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Survey Says 8% of the American Population Now Own Cryptocurrency

A new survey of Americans has discovered that the cryptocurrency community still has a long way to go to in order to simplify the technology or to reach out and educate more people in the United States, especially among women and older folks.

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Today’s Bitcoin Buyers Are Still Early Adopters

Survey Says 8% of the American Population Now Own CryptocurrencyPersonal finance comparisons portal Finder recently commissioned a survey of 2,001 American adults to help map out the cryptocurrency landscape in the US. It found that 7.95% of the population has invested in a cryptocurrency, leaving much room for adoption to grow among the vast majority of Americans. And among the 92.05% of didn’t buy any cryptocurrency, 7.76% do plan to purchase some in the future.

As for the reasons people didn’t invest in cryptocurrency, 35.02% fear that the risk is too high, 27.04% find it too difficult to understand, 17.97% say it’s a scam, 16.12% are waiting for the “bubble” to burst, 11.40% find it too difficult to use, and lastly 5.75% think that there are too many fees. Just 40.01% say they are not interested or they think there’s no need for them.

The three most popular cryptocurrencies are bitcoin, with an estimated 5.15% of Americans surveyed owning an average of $3,453.89 in BTC; ethereum, with an estimated 1.80% of people owning an average of $1,243.42 in ETH; and bitcoin cash with an estimated 0.90% of people owning an average of $636.22 in BCH.

27% of Americans Find Cryptocurrency Too Difficult to Understand
Source: finder.com

Cryptocurrency Demographics

27% of Americans Find Cryptocurrency Too Difficult to UnderstandThe survey also found a major gender gap in cryptocurrency holding, with just 4.27% of women saying they own cryptocurrency compared with 11.86% of men. And the average amount of bitcoin purchased by women is just $1,821.65, compared with $3,923.16 for men. This gap appears likely to continue in the future as of those who don’t own cryptocurrency, 6.28% of women and 9.47% of men plan to purchase.

The results also show a distinct generational gap in cryptocurrency ownership, with 17.21% of millennials having skin in the game compared with only 8.75% of Gen X and 2.24% of baby boomers. And millennials who haven’t purchased cryptocurrency are much likelier to just be those who find it too complicated to understand or too difficult to use.

27% of Americans Find Cryptocurrency Too Difficult to Understand

How should bitcoin advocates make the cryptocurrency more easily accessible to a wider segment of the American population? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

Tags in this story
America, American, Bitcoin survey, Middle-Class Americans, N-Featured, Survey, US, USA, Young Americans
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Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.