Coinbase recently reported that 1 out of every 5 US adults own crypto. That puts the total crypto holders in the US at 20%. In addition, the survey by the exchange also showed that about 29% of adults have plans to start trading crypto in the next 1 year. The exchange says that US citizens want the country’s financial system to be updated as they believe crypto can be the solution for it.
Coinbase’s latest crypto survey
Morning Consult conducted the survey for a population of 2,202 users in the US between February 10 and February 14. The results were calculated by taking into account the age, race, gender, region and educational background of the participants. Coinbase conducted the survey to understand how US citizens view crypto and its future. And the results were positive, as 4 out of 5 Americans understood the flaw in the current financial systems, and about 67% of the participants believed that an overhaul is required.
The survey also showed how interested people are in buying crypto. According to the results, about 52.3 million US adults already hold some cryptocurrency. At the same time, approximately 75.5 million expect to trade crypto at least once in the next 12 months. The survey also shows that Coinbase has a vast market it can cater to, as the exchange currently has about 110 million verified users.
The future
Despite the huge volatility in the market, crypto investors haven’t been shaken off. The Luna UST collapse and FTX bankruptcy did deter the growth of crypto adoption in 2022 and also affected the price. However, we haven’t seen a major decline in crypto ownership among US investors, which was at historic highs at the beginning of 2022.
Americans also largely believe that crypto and blockchain are the future. 76% of people agreed to the same, and the trend seemed stronger among the younger generation and black US citizens. This could indicate that they believe that crypto could help reduce the gap between the rich and the poor and reduce the control of authorities over them. All in all, the future of cryptocurrencies is bright.
What are your thoughts as the Coinbase survey shows that 1 out of every 5 US adults own crypto? And do you think that in 2023 we might see this number double down? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
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