Finder’s Cryptocurrency Adoption Index measures cryptocurrency adoption in the United States through a quarterly survey.
Key US crypto adoption trends from our July 2023 survey
US crypto ownership
58.8M American adults own crypto.
US men are 3.7x more likely than women to own crypto.
77% of American crypto owners hold ₿itcoin.
Cryptocurrency adoption statistics in the US
Currently, 23% of Americans own cryptocurrency, which is up from 18%, as reported in our April 2023 survey.
However, our data shows that the majority of Americans have yet to invest in cryptocurrency and don’t plan to do so.
Is cryptocurrency a good investment?
More than two-thirds of our respondents (66%) feel cryptocurrency isn’t a good investment, while 34% feel it is.
More men than women feel cryptocurrency is a good investment.
Only 20% of the women polled feel cryptocurrency is a good investment, while 48% of the men polled feel it is.
Crypto is a young person’s game
Just 4% of baby boomers and 22% of Gen X say cryptocurrency is a good investment compared to over half of both Gen Y (55%) and Gen Z (54%).
Popular cryptocurrencies in the US
Bitcoin (BTC) remains the most-held cryptocurrency, with 77% of American crypto owners holding BTC. Ethereum (ETH) comes in second, with 37% of Americans who own crypto holding it.
First cryptocurrency purchase
BTC is the entry point for the majority of crypto owners. However, the number of respondents who say that BTC was their first crypto purchase ebbed over the last year.
In our October 2022 survey, 58% said BTC was their first crypto, followed by 52% in January 2023 and 46% in April, before rebounding to 55% in the latest iteration (July 2023).
Total investment in crypto
With each report, the average amount of US dollars our respondents say they have invested in cryptocurrency consistently doubles.
The largest portion of our respondents (43%) are investing more conservatively than six months ago, while 39% are investing in a similar fashion. Only 17% are investing more adventurously than they were.
Reasons for not investing in cryptocurrency
“Crypto is a scam” is the most common reason cited by our respondents for why they don’t own crypto (28%). However, the percentage of respondents who think crypto is a scam is on the decline.
The effect of the FTX collapse
Our respondents were split as to whether the FTX collapse affected their decision to remain invested in cryptocurrency.
34% say that the FTX collapse prompted them to leave the market, while 38% have chosen to remain invested in crypto despite the FTX debacle.
The majority of our respondents (83%) hold their crypto in a non-custodial wallet. Only 7% of our respondents leave their crypto in the custody of an exchange with no intentions of holding it in self-custody.
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