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.
Today’s Bitcoin Buyers Are Still Early Adopters
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 core with an estimated 0.90% of people owning an average of $636.22 in BCH.
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.
Images courtesy of Shutterstock.
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