Millions Of Americans likely To Adopt Crypto In Next Year

Over 46 Million Americans likely To Buy Crypto In Next Year 

This survey is an eye-opener, it shows how many Americans have embraced cryptocurrency during its recent surge and its general popularity. In fact, the survey asked how respondents would feel if their insurance carrier invested less than 2% of its cash in Bitcoin:

43% said such an allocation would be acceptable42% said it might be okayOnly 15% said they didn't like the idea

The survey included a national sample of 1,050 U.S. consumers with an annual income of at least $50,000. And it used the standards of the Census Bureau's American Community Survey to weigh its data based on the demographic composition of the United States.

Over 20% of Americans that have never bought cryptocurrency are likely to buy in the next year

Our results show that interest in cryptocurrency will remain strong over the next year.

20% of American adults who have never bought cryptocurrency say they’re somewhat likely to buy in the next year. And 3% say they’re very likely to buy.

Based on those numbers, another 56.7 million Americans are likely to buy cryptocurrency in the next year, more than tripling the current 21 million or so crypto owners in mid-2021.

29% of non-crypto owners don't know what to do with cryptocurrency

Not knowing what to do with cryptocurrency and not understanding how to buy it were the two most cited reasons for not buying cryptocurrency among respondents who had never purchased crypto.

Despite the growing popularity and value of crypto, the third most likely reason for not investing in cryptocurrency was having never heard of it.

Respondents appear to have shrugged off the volatility and unique risks associated with cryptocurrency and embraced the rising valuation of major coins. Only 8% of American adults who have never purchased cryptocurrency said that was because they think it’s a bad investment.

In that same vein, very few respondents claimed that the main factor preventing them from buying cryptocurrency was that it's too expensive or it's too late to make a profit.

49% of Americans who have never owned cryptocurrency would consider buying if they could store it in their primary bank

Almost half of Americans would consider buying cryptocurrency for the first time if they could store it in an account at their primary bank.

Over 80% of those who own or have owned crypto say they'd consider buying more of it if they could store it with their bank.

While looping financial institutions into the cryptocurrency world would go against what many people think is a big advantage of crypto, there's a lot of interest in it. We could see banks trying to cater to this market in the future.

65% of Americans would consider a credit card with crypto rewards

Americans are also intrigued by credit cards that provide rewards or cash back in the form of cryptocurrency.

Nearly 65% said they would consider signing up for a credit card with crypto rewards. Almost 50% of those who had never owned cryptocurrency said they would consider it, and nearly 80% of those who own or have owned cryptocurrency expressed an interest.

Mastercard recently announced that it has partnered with Gemini, a cryptocurrency platform, to release a credit card with crypto rewards.

It wouldn't be a huge surprise to see more of these cards coming in the future.

40% of Americans would consider receiving part of their salary in cryptocurrency

Americans are more interested in crypto credit cards than they are in getting paid directly with cryptocurrency, but millions of people would still consider it.

Overall, just over 40% of Americans would consider receiving part of their salary in cryptocurrency and about 31% said they would consider receiving all of their salary in cryptocurrency.

Almost 60% of owners and previous owners of crypto would consider getting part of their salary in cryptocurrency.

Respondents who had never owned cryptocurrency were significantly less likely to consider getting any portion of their salary in crypto.