According to a Pew Research Center poll issued on Thursday, around 16% of Americans had invested, traded, or used cryptocurrencies in some way. For people aged 18–29, the percentage rises to 31%, while for males in the same age group, it rises to 43%. Participants in the survey who identified as black, Hispanic, or Asian were all more likely to have invested in cryptocurrency than those who identified as white. There did not appear to be any inequality in terms of income.
Andrew Perrin, a Pew Research Analyst, stated:
“We do see now that a large share of the American public has heard at least a little about cryptocurrencies. It was striking to see how there are demographic differences in awareness and use of cryptocurrencies.”
Breakdown Of The Survey Shows Some Fascinating Results
The poll included 10,371 adults from the American Trends Panel at the center. A national random sample of addresses is used to create the panel, which is then weighted according to a variety of criteria such as ethnicity, political party, gender, and educational attainment.
Members of the panel were also asked if they were familiar with cryptocurrency. Almost a quarter of those polled (24%) said they had heard a lot about cryptocurrency, while nearly two-thirds (62%) said they had heard some. One-eighth of the respondents (13%) had never heard of cryptocurrency. In the crosstabs for this question, there is some variation based on race, gender, age, and wealth.
Asian Americans were by far the most knowledgeable about cryptocurrency (43 percent). Only 25% to 29% of people from all other ethnic groups said they knew a lot about cryptocurrency.
The Survey Also Shows Some Correlation In The Knowledge Base Of Investors
While there was no difference in crypto investment rates across income levels, the percentage of respondents reporting a high level of knowledge of crypto increased in direct proportion to income. When it comes to self-reported crypto expertise, there was a high correlation between youth and being a man, just as there was with crypto investment rates.
Pew Research Center conducted a poll in 2015 that asked similar (but not identical) questions on Bitcoin (BTC), rather than cryptocurrencies in general. The outcomes were considerably different at the time. Only 1% of individuals asked indicated they had invested in Bitcoin, and only 48% had heard of it at all. The majority of those who had heard of Bitcoin were Caucasian, college-educated men with high salaries.