Cryptocurrency Adoption and trends in USA in 2021
It is estimated that 27 million people, 8.3% of America’s total population, currently own cryptocurrency.
American men are almost twice as likely to invest in crypto, with 19% of American men owning crypto versus just 10% of American women.
In 2018, a survey conducted by ING found that 57% of America residents had heard of cryptocurrency. Comparing this with the 2019 survey results from IE CGC, more Americans (almost 70%) have heard of cryptocurrencies. This suggests a growing interest among Americans in purchasing cryptocurrency since 2018 which varies significantly across age and income.
Breaking down cryptocurrency ownership by income, ownership levels are significantly higher among the very wealthy. Out of the surveyed owners, over 70% of them have an annual income above USS1 million, and 33% of them with income between US$500,000 and US$999,999.
Majority of the US cryptocurrency owners are in the 18-44 age group (58%). 5% of them are 55 and above. This concludes that cryptocurrencies are largely owned by young, tech savvy and wealthy Americans.
Highly educated Americans are more likely to own cryptocurrencies, 17% of them hold a doctorate education and equivalent, while 9% with a secondary education. On top of that, a higher percentage of American men (16%) own cryptocurrencies than women (7%).
USA has the highest distribution of traders on major crypto exchange and wallet Coinbase (60%), while on Binance, Bittrex and Poloniex, U.S. traders make up a substantial 24%, 27% and 28% of total crypto traders respectively.
46% of American cryptocurrency owners are already using cryptocurrency to make purchases, while the rest own cryptocurrency solely for investment purposes.