Be aware: For the newest survey information on the usage of cryptocurrencies amongst U.S. adults, learn our 2023 post.
The turmoil in cryptocurrency markets has taken a toll on investments. Among the many 16% of U.S. adults who say they’ve ever invested in, traded or used a cryptocurrency equivalent to bitcoin or ether, 46% report their investments have performed worse than they anticipated, based on a brand new Pew Analysis Heart survey.
By comparability, 15% of those Individuals say their investments have performed higher than they anticipated, 31% say they’ve labored out about the identical as they anticipated and one other 8% say they don’t seem to be positive.
The survey, which was performed July 5-17, 2022, exhibits that the general share of U.S. adults who’ve ever invested in, traded or used a cryptocurrency (additionally known as “crypto customers” on this evaluation) is unchanged since September 2021. This lack of total change comes regardless of robust attention to crypto in the news.
Pew Analysis Heart performed this examine to look at the methods know-how is reworking how Individuals make investments and make purchases. This survey was performed amongst 6,034 U.S. adults from July 5-17, 2022. This included 4,996 respondents from the Heart’s American Tendencies Panel (ATP), a web based survey panel that’s recruited via nationwide, random sampling of residential addresses. This fashion practically all U.S. adults have an opportunity of choice. It additionally included an oversample of 1,038 respondents from Ipsos’ KnowledgePanel who indicated that they’re lesbian, homosexual or bisexual (LGB), with oversampled teams weighted again to mirror proportions within the inhabitants. The survey is weighted to be consultant of the U.S. grownup inhabitants by gender, race, ethnicity, partisan affiliation, schooling and different classes. Learn extra concerning the ATP’s methodology. Listed below are the questions used for this analysis, along with responses, and its methodology.
This survey features a complete pattern dimension of 234 Asian adults. The pattern primarily contains English-speaking Asian Individuals and, subsequently, will not be consultant of the general Asian grownup inhabitants. Regardless of this limitation, it is very important report the views of Asian Individuals on the matters on this examine. As all the time, Asian adults’ responses are integrated into the overall inhabitants figures all through this report.
The brand new survey additionally explores the explanations individuals have for investing in cryptocurrencies.
Among the many 16% of Individuals who say they’ve ever invested in, traded or used a cryptocurrency, about three-quarters say {that a} main or minor motive is that they need a distinct approach to make investments (78%) or that it’s a good approach to earn money (75%). Some 54% say not less than a minor motive is that they assume crypto is simpler to get into than different methods to speculate. Smaller shares cite being extra assured in cryptocurrencies than different investments (39%) and eager to be a part of a neighborhood (33%) as not less than a minor motive for investing.
Sure teams are notably more likely to say they’ve used cryptocurrencies
Because the Center found in the 2021 survey, males ages 18 to 29 stand out for saying they’ve ever invested in, traded or used a cryptocurrency equivalent to bitcoin or ether. About four-in-ten males ages 18 to 29 (42%) have used cryptocurrencies, in contrast with 17% of ladies in that age vary.
Total, males are 14 share factors extra probably than ladies to say they’ve used cryptocurrencies. And adults below age 50 (25%) are extra probably than these 50 and older (7%) to be crypto customers. There are additionally variations by race and ethnicity. About one-in-five Black, Hispanic or Asian Individuals say they’ve ever invested in, traded or used a cryptocurrency, in contrast with 13% of White Individuals who say the identical.
Whereas comparatively few Individuals total say they’ve ever invested in, traded or used cryptocurrencies, the overwhelming majority of Individuals have heard about them. Roughly nine-in-ten Individuals (88%) say they’ve heard not less than a bit about cryptocurrencies, together with 26% who’ve heard rather a lot.
About half of Individuals have heard about NFTs, however few have ever purchased one
Along with asking about cryptocurrencies, the survey explored common public consciousness and use of non-fungible tokens (NFTs), prompted by the rising consideration being paid to artists, athletes and journalists who’ve created and offered NFTs.
About half of U.S. adults (49%) say they’ve heard not less than a bit about non-fungible tokens, together with 11% who’ve heard rather a lot. However simply 2% of Individuals say they’ve purchased an NFT.
Consciousness of and funding in NFTs fluctuate by demographic elements, notably gender and age. Males are 22 share factors extra probably than ladies to say they’ve heard of NFTs. And 69% of adults ages 18 to 29 say they’ve heard not less than a bit about NFTs, in contrast with 56% of these ages 30 to 49 and 36% of these 50 and older.
Variations once more stand out when gender and age collectively. For instance, males below 30 are 21 factors extra probably than ladies below 30 to say they’ve heard not less than a bit about NFTs (79% vs. 58%). Notably, although, amongst adults below 30, women and men are about equally more likely to say they’ve truly purchased an NFT (5% vs. 7%).
The share of adults who’ve heard about NFTs additionally varies by race, ethnicity and revenue. Asian Individuals, for instance, are the probably amongst racial and ethnic teams studied to say they’ve heard not less than a bit about NFTs (66%). That compares with about half of White or Hispanic adults (49% and 48%, respectively) and 38% of Black adults. Equally, Individuals with comparatively increased incomes are probably to have heard about NFTs: About two-thirds (66%) have heard not less than a bit, adopted by roughly half of Individuals within the center revenue vary (51%) and a couple of third (36%) of these with decrease incomes. Small shares of all these teams have truly purchased NFTs.
Be aware: Listed below are the questions used for this analysis, along with responses, and its methodology.
Learn extra from our collection analyzing Individuals’ experiences with cash, investing and spending within the digital age:
