Survey: 42 Percent Don't Own Crypto Because Not Sure How to Buy

Survey: 42 Percent Don’t Own Crypto Because Unsure How to Buy

Commissioned by CreditCoin, a new survey of 1,000 U.S. consumers highlighted a variety of interesting dynamics regarding public sentiments over the rising cryptoeconomy. One of the biggest takeaways from the survey? Buying crypto is still difficult for many, though optimism toward the fledgling tech seems to be steadily growing in the states. 

Also see: Does Ross Ulbricht Deserve a Presidential Pardon?

Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts

Crypto Not Easy Enough Yet, Many Find

New crypto purchasing play CreditCoin has conducted a survey of 1,000 American consumers who have heard of bitcoin before, and the results are in.

Infographic via CreditCoin

The survey encompassed responses from members of three U.S. generations — Baby Boomers, Gen Xers, and Millennials — and found that 42 percent of respondents hadn’t invested in cryptocurrencies yet because they didn’t “know how to purchase it.” On the surface, then, that result suggests America’s nook of the cryptoverse has considerable room to grow as crypto purchasing options continue to develop and get easier.

Going off that last point, 44 percent of the survey’s respondents said their “biggest concern” is how hard they currently find purchasing cryptocurrencies. Again, it’s another figure that suggests more mainstream American users will eventually take the leap into crypto as their options get more accessible from a UX perspective.

Age, Sex Differences

Millennials unsurprisingly led the charge on crypto ownership per the survey, with nearly 40 percent of Millennial respondents saying they’ve held crypto before. Baby Boomers were in last place here, with 15 percent saying they’d owned crypto previously compared to 24 percent of Gen X individuals.

The much-discussed gender divide in crypto also surfaced in the survey, as it was found that 26 percent of Millennial women have owned blockchain assets before compared to 48 percent of Millennial men.

Optimism Growing?

Across all generations, many of those who hadn’t owned cryptocurrency before were seemingly interested in doing so — according to the survey, almost 60 percent of those that didn’t have crypto “wish they did.”

75 percent of the participants wanted to be able to use cryptocurrencies for payments in “brick-and-mortar stores,” whereas that number somewhat surprisingly jumped to 84 percent for Baby Boomers. More than 50 percent of the participants also said they could envision having 1/10th of their savings comprised of crypto holdings in a decade’s time.

A plurality of respondents, 39 percent, said that if gifted $10,000 USD they’d put it into cryptocurrencies. On the flip side, 33 percent said they’d put that sum into a house first and 28 percent said the same about a car.

Still, it wasn’t all gravy for crypto use according to those surveyed by CreditCoin. A majority said they’d prefer to date a divorced person who has a child rather than a person who has put everything they have financially into crypto.

We’ll have to see how these perceptions evolve in the years ahead, wherever the ecosystem goes.

What’s your take? Do you think people are starting to view cryptocurrencies with more open-mindedness? Sound off in the comments below.

Images via CreditCoin, Pixabay

Related News