Study: 33% of Americans own crypto, 46% plan to buy in the next year

Study: 33% of Americans own crypto, 46% plan to buy in the next year
1 year ago
2 mins read

A new survey indicates that there is increasing adoption of digital assets among Americans.

The study by Piplsay, backed by MarketCube, found that 33% of Americans own at least one type of cryptocurrency, with almost half of all millennials polled owning some type of cryptocurrency compared to over a third of Gen Xers and 13% of Gen Zers.

Furthermore, almost half of the respondents are keen on purchasing services or products using cryptocurrency, with millennials leading the pack in terms of adoption once more.

Moreover, 46% of Americans plan to buy crypto in the next year. However, 21% are looking to sell, while the rest prefer to stick with their current positions.

Piplsay, MarketCube survey data.

Perception of cryptocurrencies remains firmly risky

The vast majority of respondents perceive cryptocurrency as a somewhat risky asset, citing factors such as lack of system knowledge, lack of regulations, volatility, and fear of fraudulent activities.

Notably, more than 2 out of 3 Americans polled say they are somewhat or very familiar with cryptocurrency. Of those familiar, over 40%  believe that the primary goal of crypto is to replace currencies, while more than 30% think that cryptocurrency is a store of value. 

Additionally, the research found that 88% of the respondents who invest in cryptocurrency are those with a college or a master’s degree. 

The Piplsay survey was conducted nationwide in the US in May 2021. They received 5,061 online responses from individuals aged 18 years and older.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.