At least 16% of Americans own cryptocurrency

A survey Released The Pew Research Center found on Thursday that approximately 16% of Americans have invested in, traded, or used some form of cryptocurrency. For people aged 18-29, this number jumped to 31%, while among men of the same age group, this number was even higher, reaching 43%. Black, Hispanic, and Asian participants in the study were also more likely to invest in cryptocurrencies than those who claimed to be white. There seems to be no difference in income.

Pew Research Analyst Andrew Palin said:

“We do see now that a large part of the American public at least knows about cryptocurrency. What is shocking is that there are demographic differences in people’s understanding and use of cryptocurrency.”

The survey sample included 10,371 adults selected from the center’s American Trends Group. The team was recruited through a random nationwide sample of addresses, and then weighted based on a series of factors, including race, political party, gender, and education.

The panel members also accepted a survey on whether they had heard of cryptocurrency. Nearly one-quarter (24%) of respondents said they had heard a lot about encryption, and nearly two-thirds (62%) said they had heard of some. Approximately one in eight (13%) knows nothing about encryption. In the cross-tabulation of this question, there are also some differences in race, gender, age, and income.

So far, Asian Americans are most likely (43%) to report that they know a lot about cryptocurrencies. Only 25% to 29% of all other ethnic groups say they know cryptocurrencies very well. Although the encryption investment rate has not changed within different income ranges, the proportion of respondents who claim to have a high degree of encryption does increase in proportion to their income. Very similar to the crypto investment rate, there is a strong correlation between young people and men in terms of self-reported crypto knowledge.

In 2015, Pew did a survey and found that Ask Similar (though not identical) questions about Bitcoin (Bitcoin) Instead of the entire cryptocurrency. At that time, the results were very different. Only 1% of respondents said they invested in Bitcoin themselves, and only 48% had never heard of Bitcoin at all. Respondents who have heard of Bitcoin tend to be high-income, college-educated white men.