Brussels was the home of five Bitcoin ATMs as of June 2020, whereas Amsterdam had more than 20 of these cryptocurrency installations. In general, Bitcoin ATMs were to be found in the bigger cities of the two cities, but they also sporadically appeared in smaller cities. No recent data exists on the market size of Bitcoin in either Belgium or the Netherlands. In the first three quarters of 2017, there were approximately 44,000 transactions in Bitcoin from the Netherlands on a domestic trading platform called BTC Direct. This lack of market data has two reasons. First, the design of the digital currency (meant to provide privacy) makes it is difficult to trace. Second, Bitcoin did not reach the news in the two countries that often after 2017. Approximately 60 percent of the households in the Netherlands who invested in cryptocurrencies started doing so in that year. Data on cryptocurrencies in Belgium and the Netherlands therefore mostly stems from 2017 and 2018, not from 2019.
What can be said about cryptocurrencies in Belgium and the Netherlands?
According to a survey held in Belgium, Luxembourg and the Netherlands in early 2018, Dutch respondents had the highest cryptocurrency ownership. This could be any cryptocurrency, like Bitcoin but also Ethereum or Ripple. However, consumers from the Benelux region held much less blockchain-powered currencies than their European counterparts. Not only that, they also were less likely to buy into the trend of buying cryptocurrencies over time. This might have to do with the steep decline in Bitcoin prices by the time of the survey. The biggest reason for Dutch consumers to invest in the digital money was not because of technology or out of curiosity, but simply to earn money.
Who owns cryptocurrencies in the Netherlands?
Bitcoin was owned in roughly equal amounts by both male (69 percent) as well as female (65 percent) respondents to a 2018 survey in the Netherlands. Ethereum and Litecoin, however, were way more popular amongst male respondents. Women were overall less likely to invest in cryptocurrencies but did show an interest in coins like Ripple and TRON.
