Using a survey of 39,507 adults in 17 euro-area countries, I find that crypto-asset owners and the niche subgroup of payers have distinct profiles. Owners – typically younger, male, and financially active – exhibit mixed preferences, valuing both cash-like privacy and cardlike speed. Crypto payers display a cash-centric profile, seeking to replicate physical cash’s privacy and ease of use in digital form. While standard specifications show that holding cash reserves is positively associated with owning crypto – challenging the view that early adopters reject cash –, a multiple-instrument IV strategy exploiting ... (full story)