A poll published Thursday by the Pew Research Center found that about 16% of Americans have invested, traded, or used some form of cryptocurrency. This figure rises to 31% for people aged 18-29 and even higher to 43% for men in the same age group. Black, Hispanic, and Asian study participants were more likely to invest in cryptocurrency than those who identified themselves as white. It appears that there was no difference in income.
Andrew Perrin, Pew Research Analyst, said:
“Now we see that most of the American public has heard at least a little bit about cryptocurrencies. It was amazing to see how there are demographic differences in awareness and use of cryptocurrencies.”
The survey sample consisted of 10,371 adults selected from the Center’s American Attitudes Collection. The group is recruited by randomly selecting addresses across the country and then evaluated on a number of factors, including race, political party, gender, and education.
Participants were also asked if they had ever heard of cryptocurrencies. Nearly a quarter of respondents (24%) said they had heard a lot about coding, and nearly two-thirds (62%) said they had heard something. About one-eighth (13%) have never heard of encryption at all. The dialectical tables also have some differences in race, gender, age, and income for that matter.
Asian Americans were more likely (43%) to say they know a lot about cryptocurrency. Only 25% to 29% of all other ethnic groups report being very familiar with cryptocurrency. Although the rates of investing in cryptocurrencies did not differ by income group, the proportion of respondents who declared a high level of cryptocurrency knowledge here increased in proportion to the income. As with the pace of investing in cryptocurrency, when it comes to self-esteem from crypto knowledge, there is a strong connection between being young and being a man.
In 2015, the Pew Center conducted a survey that asked similar (but not entirely identical) questions about bitcoin (BTC), and not cryptocurrency in general. At that time, the results were very different. Only 1% of respondents said they have invested in Bitcoin themselves, and only 48% have heard of Bitcoin at all. Respondents who heard about bitcoin reached white, high-income males with college degrees.