Only 8% Americans Own Cryptocurrencies recently commissioned a study on Americans and their dealing with cryptocurrency which revealed that 26 million, or around 8% of the population had purchased the digital currency. The survey had a sample size of around 2001 American adults and was conducted through Pureprofile, a survey site that provides cash rewards to their users for participating.

The remaining 92% Americans who had never purchased cryptocurrencies also contained some enthusiasts, about 8% to be exact, who wanted to own digital currencies in the near future. However, with such a small fraction of the population investing in crypto, it does beg the question, why are Americans hesitant to buy digital currencies?

The survey also asked a similar question and found that most of the population found no need to invest in the digital asset or they were disinterested. The second most common reply was due to fear of the high risk involved with cryptocurrency. Some also stated that it is too complicated to understand and isn’t worth the hassle.

Apart from this, the survey took to break down the population into certain demographic based on their affinity towards crypto. It found that men are far more likely to invest in bitcoins and altcoins rather than women. 11.86% of all men compared to merely 4.27% of all women have owned cryptocurrencies or has shown interest in owning them.

Also, when taking into comparison investment tendencies amongst age groups, particular Gen X, Millennials, and baby boomers, then Millennials take the cake with 17% having owned decentralized currencies. However surprisingly, the Millennials were also the most likely to comment that “it is too difficult to use” or “too complicated to understand.”

Finally, the survey dealt with finding which cryptocurrencies were being bought by American investors. They found that 5% out of the 8% Americans were bitcoin holders, whereas around 2% invested in Ethereum and around 0.9% bought Bitcoin Cash.

Please share it if you enjoy the read!

Leave a Reply

Your email address will not be published. Required fields are marked *