A crypto survey among US consumers commissioned by the regulated crypto platform Bakkt shows that almost half of all respondents stated that they had invested in cryptocurrencies in the first half of the year.
Study shows that nearly half of US consumers have invested in crypto in the past 6 months
A survey commissioned by the regulated digital asset platform Bakkt shows that nearly half of the consumers surveyed in the US invested in cryptocurrencies in the last six months of this year. Bakkt was launched in 2018 by Intercontinental Exchange, which operates over a dozen of the world’s best-known exchanges, including the New York Stock Exchange (NYSE).
“On behalf of Bakkt and through an online survey tool, we surveyed more than 2,000 consumers in the US and interviewed them in July 2021… The data was rebalanced by age, race, gender, education and geography using the Census Bureau’s American Community Survey reflect the demographic composition of the United States, ”explains the survey report. According to the results published on Wednesday:
Almost half (48%) of US consumers said they invested money in cryptocurrencies in the first half of the year.
“Of those who have not yet invested in cryptocurrency, 32% of those surveyed are interested in buying cryptocurrency in the next six months,” the report said.
Amount of cryptocurrency owned by respondents. Source: Bakkt’s US Consumer Crypto Survey.
The survey also found that among those who have already bought cryptocurrencies, “58% see this as a long-term investment, while 43% admit that they plan to sell if they can make a short-term profit”. In addition, 24% said they used cryptocurrency for online purchases and 12% said they used it for personal purchases.
Furthermore, “the most attractive attribute of cryptocurrency for the entire sample is its ‘long-term return on investment’ (28%), with all other attributes – lack of fees, easy access, FOMO, and lack of centralized control. ”
Meanwhile, the study shows that “almost 40% of respondents didn’t know they could buy part of a cryptocurrency (i.e. not the entire price of a coin).”
“Digital assets are driving a new, increasingly dynamic economy,” commented Bakkt CEO Gavin Michael:
Survey results show that Gen Z and Millennials are using crypto en masse and for alternative forms of payment, but the biggest hurdle they faced was a lack of understanding of entry and concerns about market volatility.
What do you think of this US consumer survey on cryptocurrency? Let us know in the comments section below.
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