Finance comparison company Finder.com conducted a survey on 2,001 Americans to study the trends of cryptocurrencies among adults. The results show that only 7.95% of these people have bought Bitcoin or altcoins, while 7.76% plan to buy them sometime in the future.
Percentage of Cryptocurrency Users in America
92.05% of Americans don’t own cryptocurrencies – they are divided into eight groups: 40.01% don’t feel the need to invest in this area, 35.02% find it too risky and volatile, 27.04% are still having problems understanding the concept and 17.97% believe the one thing cryptocurrencies have been battling ever since they were launched: they are all a scam. The rest of the groups, along with 7.76% who want to purchase it later, are explained as, “16.12% are waiting for what they think is a bubble to burst. A further 11.40% find it too difficult to use, and 5.75% think that there are too many fees involved.”
Most Popular Cryptocurrencies Among Americans
5.15% Americans have bought Bitcoins, while 1.8% own Ethereum. Bitcoin Cash or Ripple. Other cryptocurrencies follow them with 0.9%, 0.85% and 0.75%. Cardano and Stellar Lumens are the least bought coins with 0.45% and 0.4% of American owners respectively. Once again, an increasing number of people bought these cryptocurrencies based on their popularity and success. For instance, 41.51% people saw someone else receive cryptocurrency gains and followed his/her path.
Who Bought More Coins?
Men are noted to purchase more cryptocurrencies with an average of 11.86%, while only 4.27% women are owners of these coins. Both genders find it difficult to understand and use them, but men are more likely to believe they are a scam. 23.27% of men believe it is a bubble, compared with 9.93%of women. In another survey by Coin Dance, only 5.27% of women were found to participate in the Bitcoin community.
17.21% of millennials own one or more cryptocurrencies, while Generation X and Baby Boomers lag behind with 8.75% and 2.24% respectively. However, among those who haven’t purchased coins yet, millennials find it more difficult to understand cryptocurrencies in comparison with the other two generations.