How Many Americans Are Invested In Crypto

A smartphone app shows cryptocurrency exchange rates in April.
A smartphone app shows cryptocurrency exchange rates in April. (Chris Delmas/AFP via Getty Images)

Annotation: For the latest survey data on
the use of cryptocurrencies and NFTs amidst U.S. adults, read our 2022 post.

The vast majority of U.S. adults have heard at least a piffling about cryptocurrencies like Bitcoin or Ether, and 16% say they personally have invested in, traded or otherwise used one, according to a new Pew Research Center survey. Men ages eighteen to 29 are particularly likely to say they accept used cryptocurrencies.

A bar chart showing that nearly nine-in-ten Americans say they have heard at least a little about cryptocurrency, and 16% say they have ever invested in, traded or used one themselves

Overall, 86% of Americans say they take heard at to the lowest degree a little about cryptocurrencies, including 24% who say they have heard a lot about them, according to the survey of U.S. adults, conducted Sept. 13-nineteen, 2021. Some 13% say they accept heard nothing at all.

In 2015, the Eye asked Americans dissimilar questions that were focused exclusively on Bitcoin. At the time, 48% of adults said they had heard of Bitcoin (to any degree), and just one% said they had always collected, traded or used it.

Pew Research Center has conducted several studies almost Americans and cryptocurrency. This survey was conducted among 10,371 U.Due south. adults from Sept. 13-19, 2021. Everyone who took part is a fellow member of the Center’southward American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. This way nearly all U.S. adults have a chance of selection. The survey is weighted to exist representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, instruction and other categories. Read more near the ATP’s methodology. Here are the questions used for this report, along with responses, and its methodology.

This survey includes a total sample size of 362 Asian Americans. The sample includes English-speaking Asian Americans merely and, therefore, may not be representative of the overall Asian American population. Despite this limitation, information technology is important to report the views of Asian Americans on the topics in this study. Equally always, Asian Americans’ responses are incorporated into the general population figures throughout this report. Considering of the relatively small sample size and a reduction in precision due to weighting, we are non able to clarify Asian American respondents by demographic categories, such as gender, age or teaching.

In the new survey, certain demographic groups are particularly likely to say they have used cryptocurrencies, with some of the largest differences past age and gender.

A bar chart showing that 43% of men ages 18 to 29 say they have invested in, traded or used a cryptocurrency

Roughly iii-in-ten Americans ages 18 to 29 (31%) say they have always invested in, traded or used a cryptocurrency such equally Bitcoin or Ether, compared with smaller shares of adults in older historic period groups. Men are nigh twice as likely as women to say they ever used a cryptocurrency (22% vs. 10%).

These differences are especially pronounced when looking at age and gender together. Most four-in-ten men ages 18 to 29 (43%), for example, say they accept ever invested in, traded or used a cryptocurrency, compared with 19% of women in the aforementioned age range. Amongst both men and women, the likelihood of having invested in, traded or used cryptocurrency decreases with historic period.

Asian, Black and Hispanic adults are more likely than White adults to say they have always invested in, traded or used a cryptocurrency. In that location are no statistically significant differences by household income.

While majorities across demographic groups say they have heard at to the lowest degree a little about cryptocurrency, smaller shares say they have heard a lot. For case, adults under l (31%) and men (35%) are more probable than older Americans (sixteen%) and women (15%), respectively, to say they take heard a lot.

The share of adults who accept heard a lot about cryptocurrency likewise varies by race, ethnicity and household income. For example, 43% of Asian Americans say they have heard a lot about cryptocurrency, compared with 29% of Hispanic adults and about a quarter of Black or White adults. Americans with higher incomes (31%) are more probable than those with center (25%) and lower incomes (21%) to have heard a lot well-nigh cryptocurrency.

These findings sally as government leaders and others debate the regulation of cryptocurrency – which has been defined as a medium of exchange that is digital, encrypted and decentralized, with no central authority that manages and maintains its value. Fiscal regulators accept worried near policing cryptocurrencies and have raised concerns virtually the long-term viability of such currencies, such as Bitcoin.

People’s republic of china recently banned transactions using cryptocurrencies. U.S. Federal Reserve Board Chairman Jerome Powell said this summer that these currencies need more regulation, and the Biden administration is trying to gainsay ransomware past cracking downwardly on cryptocurrency payments. At the aforementioned time, Republic of el salvador in September became the start country to declare Bitcoin every bit legal tender.

Note: Here are the questions used for this report, forth with responses, and its methodology.

Andrew Perrin
is a sometime research analyst focusing on internet and technology at Pew Research Centre.


Source: https://www.pewresearch.org/fact-tank/2021/11/11/16-of-americans-say-they-have-ever-invested-in-traded-or-used-cryptocurrency/

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