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8% Of US Citizens Own Cryptocurrency

Cryptocurrency is something that gets a lot of attention, but whether or not many individuals walk the walk is another storey. Finder recently conducted a survey in which 2,001 US residents were polled on their attitudes toward and dealings with cryptocurrencies. The outcomes have been surprising.

According to the report, only 7.76 percent of the 92.05 percent of Americans who have not invested in cryptocurrencies plan to do so in the future.

Bitcoin was discovered to be the most popular cryptocurrency among survey respondents. Ethereum was over 4% lower, with 1.8 percent, while Bitcoin Cash was third, with 0.9 percent, ahead of Ripple.

More than half of these (54.09 percent) chose their currency or token based on their own research, while 41.51 percent chose their coin based on the success of a peer. Others made decisions based on the authority of a coin in the news.

The study results also provide further information about persons who possess cryptocurrencies. Only 4.27 percent of women possess bitcoin, compared to 11.86 percent of males, with men also being more likely to have invested more dollars in cryptocurrency. The statistics also suggest that 17.2 percent of millennials possess cryptocurrency, while only 2.24 percent of the baby-boomer age is involved. This data is supported further by a poll conducted by Blockchain Capital, which discovered that millennials prefer Bitcoin over traditional bank accounts.

Finder’s poll also addresses the reasons why people aren’t investing in cryptocurrencies or don’t intend to buy it. The majority of males are opposed because they believe it is too risky, whilst the majority of women do not see a need or are uninterested. Only a small number of people from both genders believe there are too many fees.

According to the same survey, among those who own Bitcoin, 21% plan to keep their coins for at least seven years or longer.