A survey emanating from Pew Research Centera Washington DC-based think tank, found that around 16% of American adults have invested in, traded or used cryptocurrencies.
In its paper, Pew Research pointed out that the turmoil in the cryptocurrency market has taken its toll on this demographic. About 46% of these crypto users said that their investment performed below their expectations.
Only about 15% said their investment exceeded their expectations and 31% just broke even.
The main reasons given by crypto users to justify their investments are the diversification of investments, as well as the fact that crypto is an asset class in which it is easier to invest and that the barriers to entry are weak.
The survey found that a very small percentage of Americans – 2% – had invested in non-fungible tokens (NFTs).
Pew Research noted that statistics, tellingly, show that the U.S. cryptocurrency market has failed to register a significant surge in investors since 2021, despite increased media attention for the asset class.
“…the overall share of American adults who have ever invested in, traded or used a cryptocurrency (also referred to as “crypto users” in this analysis) is unchanged since September 2021. This lack of overall change comes despite strong attention to crypto in the news,” the poll read.
This poll references another published in November 2021, which also found that 16% of American adults had invested in, traded or used cryptocurrencies.
The United States lags other countries in cryptocurrency adoption
Although the United States is full of crypto companies (1,800) and more than 2,200 founders according the data of Crunchbasethe United States is lagging behind other countries when it comes to crypto adoption and interest.
Furthermore, a study of chain analysis, a blockchain and cryptocurrency analytics firm, ranked the United States eighth, up from sixth, in its 2021 Global Cryptocurrency Adoption Index, adoption in the country being 14%. According to Chainalysis, the main reason the country has gone down is that population-weighted P2P trading volume using the internet has dropped significantly. However, the data also suggests an increase in cryptocurrency adoption around the world.
Meanwhile, another poll shows that many more Americans who are not yet crypto users intend to become one before the end of 2022. The poll conducted by rise revealed that approximately 56% of the US adult population, or approximately 46 million Americans, plan to invest in cryptocurrencies in 2022.
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The survey revealed that 2% had invested in NFTs
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