The latest survey conducted by Finder.com showed that approximately 16.3 million Americans (8 percent of the country) own some form of cryptocurrency. The survey also found that a little more than 5% of Americans owned Bitcoin.
If these results are correct, then there is a marked increase from a study published by Pew Research Centre in December 2016.
The study had revealed that only 1% of Americans used, collected or traded Bitcoin although half the population had heard of the crypto.
The recent survey also investigated about why the remaining 92% of people hadn’t purchased cryptocurrency: 40% felt “there is no need or they are disinterested,” 35% said “it’s too high risk.
Among the remaining respondents, “27% said “it’s too complicated to understand,” 18% said “it’s a scam,” 11% believed “it’s too difficult to use” and 6% said, “there are too many fees.”
When comparing ownership of cryptocurrency between men and women, men were nearly three times likely to own a crypto than women.
The study also broke down respondents among millennials, generation x, and baby boomer. Millennials were the most likely to own a crypto with 17%, but they were also the most likely to find it too difficult to use of too complicated to understand.
When the study asked about which cryptocurrencies were most invested into, Bitcoin was the most used at 5%, followed by Ethereum at 2% and BHC at 0.90%.
Finder.com conducted this survey on 2,001 American Pureprofile users. Pureprofile is a website where people can voluntarily answer questionnaires for rewards and cash prize. Since Pureprofile users are familiar with how to use the web enough to make money, this study’s findings may be skewed.