Lithuania 2018 - crypto market. Data based on surveys conducted in June/July 2018 by Luno, in cooperation with external agencies.

1. Crypto market in Lithuania
August 2018

2. Agenda
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1. Introduction
2. Market Research (BTC recognition in LT) - research
06.2018 Norstat&Luno
3. Who owns crypto in LT - profile of the owner -
research 07.2018 Metricso&Luno
4. Who actually Luno is?
5. Something special for you!

3. Head of Eastern Europe Region
Magdalena
@: magdalena@luno.com
M: +44 7904389285
Ln: https://www.linkedin.com/in/
magdalenagolebiewska/

4. Lithuania, a country of some 2.8 million. In Vilnius lives only 578K. Despite
this…
….Lithuania has outperformed nations 20 times its size in the token economy,
making it Europe’s fifth largest country for crowdfunding. The small nation
boasts a burgeoning cryptocurrency scene, aided by fast internet and a favorable
regulatory climate.
Lithuania - basic summary

5. Innovations are happening here - ICOs in LT
• ICO Watchlist places Lithuania fifth for European crowdfunding, based on the
number of projects to have launched within its borders.
• 10% of ICO money went last year to Baltic countries, leading by LT.
• In the last 10 years, Lithuanian startups raised only around €150 million. Then,
in last 18 months, companies raised around half a billion euros.
• The amount raised in 2017 through ICOs in Lithuania is the third largest
amount on the planet behind the United States and China. In a country with a
population less than a third of the size of New York.
• 35 Initial Coin Offerings ranging from $3million to $151 million were born in
Lithuania in 2017.

6. ICOs are booming, how about crypto turnover then?
Estimated value of crypto turnover in LT is 10 mln EUR per a day(!) (Q1/2
2018).
Estimated no. of people who own crypto is 100 000 (ar. 3.8% of population over
18).
AVG value of transaction in LT (BTC/ETH buy) is ar. 400EUR and sell 600EUR.
(Luno 01-06.2018)
Double digit market growth in turnover in crypto (up to 40% MtM, Luno, Q1/Q2
2018, exc. Dec./Jan. peak)

7. Demographic structure of survey: crypto market in LT (06.2018)
52.7%47.3%
Male Female
33.9%20.6%16.9%18.2%10.4%
to 24 years 25-34 years 35-44 years 45-54 years 55-74 years
Tauragė
Alytus
Utena
Marijampolė
Telšiai
Panevėžys
Šiauliai
Klaipėda
Kaunas
Vilnius 29
20.1
11.1
9.6
7.8
4.9
4.8
4.8
4.8
3.1

8. Have you heard about Bitcoin?
Yes
No
I don't know
7
16.1
76.9
4.7
7.8
87.5
Men Women
Yes
No
I don't know 5.9
12.2
81.9
Whole population

9. Have you heard about BTC - age structure
Yes
No
I don't know
9.1
18.6
72.3
5.8
1.2
83
5.3
14.2
80.5
2.7
4.9
92.3
1.9
2.9
95.2
18-24 25-34 35-44 45-54 55-74

10. Do you own cryptocurrencies?
Yes
No, but I would like to acquire
No and I wouldn't like to acquire 66.7
29.5
3.8
Whole population
Yes
No, but I would like to acquire
No and I wouldn't like to acquire
70.4
27.7
2
63
31.4
5.6
Men Women

11. Do you own cryptocurrencies - age structure
Yes
No, but I would like to acquire
No and I wouldn't like to acquire
77.6
20
2.4
77.2
21.1
1.8
62.5
33.8
3.7
52.4
39.9
7.7
51.5
44.4
4
18-24 25-34 35-44 45-54 55-74

12. Which cryptocurrencies do you own?
Bitcoin
Ethereum
Dash
Lisk
Other 25.8
6.5
6.5
48.4
77.4
Whole population

13. For what reason have you acquired these cryptocurrencies?
for investment
for online payments
for micropayments
other reason
I don't know 3.2
9.7
6.5
9.7
87.1

14. To what extent do you agree with these statements?
Rate on a scale from 0 to 10 where 0 means you totally disagree with the statement and 10 - you totally agree
Cryptocurrencies is a safe investment
Cryptocurrencies is a profitable investment
If I had the opportunity, I would be happy to pay with cryptocurrencies for goods and services or for online shopping
It is difficult for me to use cryptocurrencies
I have enough access o gain knowledge that I'm using when purchasing cryptos and completing safe transactions 3.27
5.68
3.94
4.84
3.1

15. Which sources do you use to gain more knowledge about cryptocurrencies?
media/specialst press
acquaintances, friends, family members
social tools
blogs
books
social campaigns
other
I don't know 10
4.8
0.2
0.2
0.7
29.2
32.5
70.8

16. My confidence in cryptocurrencies could be affected by…
the official position of government/financial institutions
opinion of a close friend (acquaintance, friend, family member)
opinion of a famous person who I consider to be authoritative
possibility to pay with cryptocurrencies in my favorite shop
more stable price of cryptocurrencies
lower risk of tools loss (safer contracts, minimal risk of cyber attacks)
if I could buy such currencies from a trusted supplier (for example, bank)
there is nothing that would affect my confidence in cryptocurrencies
Other reason 1.2
17.1
28.6
33.6
35.5
21.5
18.7
25.5
56.2

17. Take aways
• 81.9% Lithuanians are familiar with the definition of cryptocurrencies/Bitcoin.
• However, only 3.8% of those declare that they have acquired them. 29.5% are interested
in buying some.
• Men are more interested in cryptocurrencies. Youngest audience shows the highest interest
in digital currencies.
• Bitcoin (77.4%), followed by Ethereum (48.4%) in the second place.
• The most common reason for holding digital currencies is investment (87.1%). 9.7% of
interviewees declare that they use it to make online payments, while 6.5% use it as a means
of making micropayments.

18. Take aways cont.…
• Respondents mostly agree with the statement ‘It is difficult to me to use cryptocurrencies’
(total score 5.68 out of 10),
• Simultaneously, they tend to disagree with the statement ‘Cryptocurrencies is a safe
investment’ (total score 3.1). However, all the statements were close to the neutral position.
• The main source of knowledge about digital currencies is media and specialst press
(70.8%), followed by acquaintances, family members and friends (32.5%) and social tools
(29.2%)
• The official position of government or financial institutions plays a major role in forming or
maintaining confidence in digital currencies (56.2%). Another two important arguments
supporting an increase in confidence in digital currencies is the more stable price of digital
currencies (35.5%) and the lower risk of a loss of funds (33.6%).

19. So who is that person who owns crypto?

20. Social media behaviour

21. Combined group (M&F)
Lack of dominant interests. The
most popular main interest in the
group is sport with over 62%,
however, this interests is much
lower than the average in the
population (20% lower).
The most unique interest is
automotive with popularity 9%
lower than average in population.

22. Combined group (M&F)
Water sports, computers and travel
dominate in detailed interests (33%,
31% and 30%). Business is interest with
almost 29% popularity.
The analysed group is distinguished by a
passion for World, Box, Basketball, Blues
and Fashion.
Most of these interests are atypical from
the population's point of view.

25. Lithuania vs other markets

26. The highest recognition, but the lowest ownership is in LT

27. Bitcoin is still the King but others follow already

28. Investment is still most popular, still people don’t use transfers/payments

29. What horror movies and dance have in common? Crypto owner!
General interests (high AFF. index, top interests) Movie type Music type Series
FR Knowledge, Sports, Art and Culture, Travel, Business, Math, Startup Drama (37%) Inspirational (26%) Leftovers, The Real, Coronation Street, Downton Abbey, Futurama,
Orphan Black (among male - Narcos, PeakyBlinders, Mr. Robot with AFX
over 5)
IE Knowledge, Sports, Arts &Culture, Start ups, Humor, Business, Horror (11%) Electronic (33%) Rob and Big, Sopranos, The 100, Game of Thrones
IT Food and beverages, Knowledge, Sports, Music, Start ups, Business Comedy (47%) Rock (26%) Black Mirror, Better Call Saul, Mr. Robot, Narcos
LT Knowledge, Sports, Music, Automotive, Entertainment, Travel, Business Horror (17%) Dance (20%) Narcos, Westworld, Sopranos, Desperate Housewifes, Suits, Top Gear
NL Arts and Culture, Knowledge, Music, Sports, Crime, Humor, Business Crime (36%) Inspirational (37%) Ozark, Peaky Blinders, The Sopranos, Mad Man, Suits
PL Knowledge, Sports&Activities, Arts and Culture, Sports, Gambling, Start up,
Business
Comedy (11%), Men Si-Fi -12% Rap (41.3%) where pop 21% among
women
Narcos, Game of thrones, House of Cards, Black Mirror, Stranger Things
RO Sport, Knowledge, Music, Travel, Business, Fashion Documentary (27%) Rock (40%) Sopranos, Star Gate, Lost, The Wire, House of Cards, Narcos
UK Knowledge, Arts&Culture, Sport, Music, Business, Religion, Horror (24%)I Inspirational (27%) Dragon’s Den, THE OA, Ballers, Star Trek, The Exorcist Fox, Better Call
Saul, True Detective,

30. Our products:
Wallet Exchange Enterprise
Luno: A quick overview

31. Luno: A quick overview
Global presence in more than forty countries
and with our headquarters in London

32. Safer to store with Luno
Better to learn with Luno
Easier to buy with Luno
Easier to use with Luno
Unique and top security
structure, no hacks
2FA and other
security measures
Strong regulatory focus
(e.g. FCA sandbox)
Dynamic web and
in-app help
New Learning Portal and
rich content blog
15+ local funding
channels, and growing
Global credit/debit
card
funding
Custom KYC tech
Trading interface for
advanced users
Send Bitcoin to SMS and
email and other
Over 10k merchants and
more activated via API
Luno creates a seamless transition from local currency to
Bitcoin and Ethereum, wherever you are in the world

33. Luno is highly selective when it comes to opening the
platform to additional tokens
Bitcoin is the first decentralized
peer-to-peer payment network that
is powered by its users with no
central authority or middlemen.
From a user perspective, Bitcoin is
pretty much like cash for the
Internet. Bitcoin can also be seen as
the most prominent triple entry
bookkeeping system in existence.
Ethereum is a decentralized
platform that runs smart contracts.
These ‘Dapps’ run on a custom built
blockchain. This enables developers
to create markets, store registries of
debts or promises, move funds in
accordance with instructions given
long in the past all without a
middleman or counterparty risk.

34. The volume of bitcoin transactions
amounted to a record $1.3 trillion in 2018.
With such an indicator, the cryptocurrency
has surpassed PayPal.
This data is contained in the report by the
New York investment company ARK
Invest.
At the same time, bitcoin seriously lags
behind payment giants by the number of
transactions.
The next one who stands in the way of
bitcoin is Mastercard.
Every day, $3-4 billion or about $1.3 trillion a year is transmitted through Bitcoin.

35. Investors:

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