Cryptocurrencies are rapidly gaining popularity among US adults, with 16% of respondents admitting they have invested, traded or used cryptocurrencies, according to a recent survey by nonpartisan think tank Pew Research Center.
In 2015, responding to an earlier survey by the center that was focused on bitcoin (BTC), only 1% of the surveyed gave the same answer in relation to the cryptocurrency.
This survey was conducted among 10,371 US adults from September 13-19, 2021, states the center.
The think tank says its latest survey shows that certain demographic groups are particularly likely to declare they have used cryptocurrencies.
Some three-in-ten Americans, or 31%, ages 18 to 29 say they have ever invested in, traded or used a cryptocurrency such as BTC or ethereum (ETH), compared with smaller shares of adults in older age groups, said Pew Research Center.
Furthermore, they found that men are about twice as likely as women to say they ever used a cryptocurrency: 22% vs. 10%.
The identified differences are especially pronounced when considering age and gender combined, as indicated by the survey.
“About four-in-ten men aged 18 to 29 (43%), for example, say they have ever invested in, traded or used a cryptocurrency, compared with 19% of women in the same age range. Among both men and women, the likelihood of having invested in, traded or used cryptocurrency decreases with age,” the center said.
The survey shows Asian, Black and Hispanic adults represent groups that are more likely to say they have ever invested in, traded or used a cryptocurrency than White adults.
At the same time, there are no statistically significant differences that would result from household income levels. Crypto investors, traders and users comprise 17% of upper and middle income respondents, and 15% of lower income respondents.
“While majorities across demographic groups say they have heard at least a little about cryptocurrency, smaller shares say they have heard a lot,” according to the think tank, adding:
“For example, adults under 50 (31%) and men (35%) are more likely than older Americans (16%) and women (15%), respectively, to say they have heard a lot,”