Research Multiscope: Bitvavo is again the biggest and best valued crypto exchange in the Netherlands

In a repeat of last year, 2 million people in the Netherlands now own a cryptocurrency according to a survey of over 4,000 Dutch residents carried out by Multiscope in 2023. This is the same number as last year, with Bitcoin remaining the most popular. Dutch cryptocurrency trading platform Bitvavo once again emerged as the foremost cryptocurrency exchange. Nearly half of all Dutch cryptocurrency owners use the platform and, with a user rating of 7.9, it is also the best-rated.

Bitvavo still on top with largest market share

With a 49% market share, the survey finds Bitvavo the market leader, followed by Binance and Coinbase, each with a 14% share. Binance's market share has significantly decreased since 2022, down to 14% compared to 27% last year. This is due to its recent decision to cease Dutch operations, and the negative publicity and concerns around Binance in general. BLOX is fourth in line in regards to market share with a 9% stake, followed by LiteBit in fifth with 8%. For reference, LiteBit ceased operations in June 2023. The company's client base was acquired by Bitvavo.

Bitvavo rated best cryptocurrency platform

Users rate Bitvavo highly, and in Multiscope's survey, Bitvavo achieved an average user rating of 7.9. This rating sets Bitvavo apart as the highest-rated cryptocurrency platform for Dutch crypto traders.

Number of cryptocurrency owners still 2 million

The number of cryptocurrency owners in the Netherlands has remained the same as last year: 14% of the Dutch population aged 18+ (i.e. 2 million people) own one or more crypto coins in 2023. On average, the population has invested 11% of their disposable assets in cryptocurrencies.

Bitcoin stays ahead of the competition

Bitcoin is still the most popular cryptocurrency in the Netherlands with nearly 1 in 10 Dutch residents (8% of the population) owning the cryptocurrency. This number has dropped slightly from last year however; from 1.25 million in 2022 to 1.23 million in 2023. Next in the rankings are Ethereum with 6%, Cardano with 4%, Ripple with 3%, and Dogecoin with 2%.

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About the survey: Multiscope carried out a survey of a representative sample of Dutch cryptocurrency owners in 2023. Results are based on more than 4,100 respondents aged 18 and over.