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Piplsay Study Says 33% of Americans Own Cryptocurrency

Piplsay Study Says 33% of Americans Own Cryptocurrency
  • There is rising adoption of cryptocurrency among Americans.
  • 33% of Americans own a minimum of one type of digital asset.

A new survey reports that there is rising adoption of cryptocurrency among Americans. Moreover, the study of Piplsay, backed by MarketCube, identified that 33% of Americans own a minimum of one type of digital asset.

In addition, nearly half of all millennials polled possess few types of crypto compared to more than a third of Gen Xers and 13% of Gen Zers. Approximately half of the respondents are keen on buying services or products utilizing digital assets. More so, the millennials lead the pack in terms of adoption again.

Moreover, 46% of Americans plan to buy crypto in the next year. However, 21% are looking to sell, while the rest prefer to stick with their current positions. The huge majority of respondents recognize cryptocurrency as a risky asset. However, they cited indicators such as lack of system knowledge, lack of regulations, volatility, and fear of fraudulent methods.

For instance, over 2 out of 3 Americans polled say they are almost or familiar with cryptocurrency. Of those familiar, more than 40% believe that the main goal of crypto is to replace money, while over 30% think that crypto is a store of value.

Added to this, the research found that 88% of the respondents who invest in crypto hold a college or a master’s degree. Furthermore, the Piplsay survey was conducted nationwide in the US in May 2021. However, they got 5,061 online responses from individuals aged 18 years and older.

Recently, another survey conducted by bitFlyer revealed that Americans are more attracted to cryptos than to gold and ETFs.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.