Cryptocurrencies Gain Following Among Americans

October 28, 2019 James Heinsman In the News

According to a recent survey conducted by Finder, the number of Americans who own cryptocurrencies went up by 81% from 2018 to 2019. That translates to ownership in cryptocurrency by about 36.5 million Americans.


In 2018 almost 8% of US citizens were owners of cryptocurrencies, but that number increased to 14.4% in 2019. The survey showed that the average value of cryptocurrency in each person’s digital wallet amounted to about $5,447. However, the survey also found that around 75% of those people owned less than that amount, with the median amount only $360.


The report pointed out that the most well-known cryptocurrency is Bitcoin (BTC), but there are other types of crypto, and over half of BTC owners also own other kinds of crypto.


Men like crypto better than women, apparently, at a rate almost double that of women. Of all the men surveyed, 19% said they own crypto, while only 10% of women answered in the affirmative. That means that 23.6 million men are owners, while only 12.9 million women are.


Most people are holding their digital currency as an investment. According to the survey 61% say they own crypto as an investment vehicle. The second most common reason is as a method of making transaction payments, with about 29.3% giving transactions as the reason they own crypto. About 25.6% said they own crypto as a way to keep their savings outside of traditional banks.

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