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Finder’s Cryptocurrency Adoption Index measures cryptocurrency adoption in the United States through a quarterly survey.
38.4M American adults own crypto.
US men are 1.14x more likely than women to own crypto.
68% of American crypto owners hold ₿itcoin.
Currently, 15% of Americans own cryptocurrency, which is down from 18%, as reported in our April 2023 survey.
Our data shows that the majority of Americans have yet to invest in cryptocurrency and don’t plan to do so.
Almost three quarters of our respondents (73%) feel cryptocurrency isn’t a good investment, while 27% feel it is.
More women than men feel cryptocurrency is a good investment.
This is the first time in the five times we’ve conducted this survey that a higher percentage of women than men reported that they feel crypto is a good investment.
29% of the women polled feel cryptocurrency is a good investment, while only 25% of the men polled feel it is.
Just 5% of Baby Boomers and 17% of Gen X say cryptocurrency is a good investment compared to close to half of both Gen Y (42%) and Gen Z (48%).
Higher percentages of Baby Boomers and Gen X reported that they believe crypto is a good investment in this survey compared to our April 2023 survey, while the percentages were lower for Gen Y and Gen Z in this survey compared to the April 2023 survey.
Bitcoin (BTC) remains the most-held cryptocurrency, with 68% of American crypto owners holding it. Ether (ETH) comes in second, with 42% of Americans who own crypto holding it.
BTC is the entry point for the majority of crypto owners.
Until July 2023, the average amount of US dollars our respondents say they had invested in cryptocurrency consistently doubled.
However, this average amount got more than cut in half from July 2023 to October 2023.
The largest portion of our respondents (47%) are investing about the same as they were six months ago, while 44% are investing more conservatively.
Only 8% are investing more adventurously than they were.
“I think crypto is a scam” is the most common reason given by our respondents for why they don’t own crypto. While the percentage of respondents who felt that crypto is a scam had been on the decline in the previous two surveys, this number is once again on the rise.
Almost half of our respondents (45%) have only been investing in crypto for 1 to 2 years. Just under a third (30%) have been investing for 3 to 4 years.
The majority of our respondents (68%) hold their crypto in a self-custody wallet, also referred to as a non-custodial wallet.
With all this speculation surrounding the bitcoin ETF here’s the good news if we don’t get a spot bitcoin ETF soon.
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According to our recent survey, a whopping 92.05% of us haven’t invested in cryptocurrency yet. But with crypto in the headlines and on the lips of “experts” — why not?
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