16% of Individuals say they’ve invested in, traded or used cryptocurrency

A smartphone app reveals cryptocurrency change charges in April. (Chris Delmas/AFP through Getty Pictures)

The overwhelming majority of U.S. adults have heard not less than a bit of about cryptocurrencies like Bitcoin or Ether, and 16% say they personally have invested in, traded or in any other case used one, in response to a brand new Pew Analysis Heart survey. Males ages 18 to 29 are notably more likely to say they’ve used cryptocurrencies.

A bar chart showing that nearly nine-in-ten Americans say they have heard at least a little about cryptocurrency, and 16% say they have ever invested in, traded or used one themselves

Total, 86% of Individuals say they’ve heard not less than a bit of about cryptocurrencies, together with 24% who say they’ve heard quite a bit about them, in response to the survey of U.S. adults, carried out Sept. 13-19, 2021. Some 13% say they’ve heard nothing in any respect.

In 2015, the Heart requested Individuals completely different questions that have been centered completely on Bitcoin. On the time, 48% of adults stated they’d heard of Bitcoin (to any diploma), and simply 1% stated they’d ever collected, traded or used it.

Pew Analysis Heart has carried out a number of research about Individuals and cryptocurrency. This survey was carried out amongst 10,371 U.S. adults from Sept. 13-19, 2021. Everybody who took half is a member of the Heart’s American Traits Panel (ATP), an internet survey panel that’s recruited by way of nationwide, random sampling of residential addresses. This fashion almost all U.S. adults have an opportunity of choice. The survey is weighted to be consultant of the U.S. grownup inhabitants by gender, race, ethnicity, partisan affiliation, schooling and different classes. Learn extra in regards to the ATP’s methodology. Listed here are the questions used for this report, together with responses, and its methodology.

This survey features a whole pattern measurement of 362 Asian Individuals. The pattern contains English-speaking Asian Individuals solely and, subsequently, will not be consultant of the general Asian American inhabitants. Regardless of this limitation, it is very important report the views of Asian Individuals on the matters on this research. As all the time, Asian Individuals’ responses are integrated into the final inhabitants figures all through this report. Due to the comparatively small pattern measurement and a discount in precision on account of weighting, we’re not capable of analyze Asian American respondents by demographic classes, resembling gender, age or schooling.

Within the new survey, sure demographic teams are notably more likely to say they’ve used cryptocurrencies, with a number of the largest variations by age and gender.

A bar chart showing that 43% of men ages 18 to 29 say they have invested in, traded or used a cryptocurrency

Roughly three-in-ten Individuals ages 18 to 29 (31%) say they’ve ever invested in, traded or used a cryptocurrency resembling Bitcoin or Ether, in contrast with smaller shares of adults in older age teams. Males are about twice as probably as girls to say they ever used a cryptocurrency (22% vs. 10%).

These variations are particularly pronounced when age and gender collectively. About four-in-ten males ages 18 to 29 (43%), for instance, say they’ve ever invested in, traded or used a cryptocurrency, in contrast with 19% of ladies in the identical age vary. Amongst each women and men, the probability of getting invested in, traded or used cryptocurrency decreases with age.

Asian, Black and Hispanic adults are extra probably than White adults to say they’ve ever invested in, traded or used a cryptocurrency. There aren’t any statistically vital variations by family earnings.

Whereas majorities throughout demographic teams say they’ve heard not less than a bit of about cryptocurrency, smaller shares say they’ve heard quite a bit. For instance, adults underneath 50 (31%) and males (35%) are extra probably than older Individuals (16%) and ladies (15%), respectively, to say they’ve heard quite a bit.

The share of adults who’ve heard quite a bit about cryptocurrency additionally varies by race, ethnicity and family earnings. For instance, 43% of Asian Individuals say they’ve heard quite a bit about cryptocurrency, in contrast with 29% of Hispanic adults and a couple of quarter of Black or White adults. Individuals with larger incomes (31%) are extra probably than these with center (25%) and decrease incomes (21%) to have heard quite a bit about cryptocurrency.

These findings emerge as authorities leaders and others debate the regulation of cryptocurrency – which has been outlined as a medium of change that’s digital, encrypted and decentralized, with no central authority that manages and maintains its worth. Monetary regulators have nervous about policing cryptocurrencies and have raised issues in regards to the long-term viability of such currencies, resembling Bitcoin.

China just lately banned transactions utilizing cryptocurrencies. U.S. Federal Reserve Board Chairman Jerome Powell stated this summer season that these currencies want extra regulation, and the Biden administration is attempting to fight ransomware by cracking down on cryptocurrency funds. On the similar time, El Salvador in September grew to become the primary nation to declare Bitcoin as authorized tender.

Word: Listed here are the questions used for this report, together with responses, and its methodology.

Andrew Perrin  is a analysis analyst specializing in web and expertise at Pew Analysis Heart.

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