Coinbase Survey: 20% of US Adults Currently Own Crypto

A national survey commissioned by Coinbase suggests that about 20% of U.S. adults currently own crypto. In addition, 29% of U.S. adults plan to buy or trade crypto in the next 12 months. “The vast majority of Americans want to see the financial system updated and they believe crypto can be a powerful part of the solution,” Coinbase said.

A nationwide survey of 2,202 participants from the general population was conducted by Morning Consult from Feb. 10-14. “The data were weighted to be representative of U.S. adults based on age, race/ethnicity, gender, educational attainment, and region,” the market research firm described. “The purpose of this study was to examine perceptions of the global financial system and how U.S. adults and cryptocurrency investors view the future of the crypto market and exchanges.”

Citing the survey results, the Nasdaq-listed cryptocurrency exchange Coinbase, which commissioned the study, commented:

The vast majority of Americans want to see the financial system updated and they believe crypto can be a powerful part of the solution.

Noting that “80% of Americans think the global financial system unfairly favors powerful interests” and “67% of Americans agree that the financial system needs major changes or a complete overhaul,” Coinbase wrote:

The survey found that 80% of respondents believe the current financial system is unfair, with the overwhelming majority expressing frustration with the current financial system and a hunger for change.

The crypto exchange added that the survey further “indicates that most Americans remain optimistic about the future of crypto and understand its potential to be part of the solution to bring about meaningful change to the financial system that would benefit society as a whole.”

Morning Consult detailed: “20% of Americans currently own some type of cryptocurrency, and 29% are likely to buy or trade crypto in the next 12 months. This translates to an estimate of approximately 52.3 million American adults owning crypto, with 75.5 million adults expected to trade crypto at least once in the coming year.” According to Coinbase’s website, the trading platform has more than 110 million verified users.

Coinbase continued:

Despite the tumultuous events of 2022, crypto ownership has remained largely unchanged since early 2022, which has been the historic high watermark for crypto ownership in America.

Moreover, “76% of those who own crypto agree that cryptocurrency and blockchain are the future. These numbers are even higher amongst people of color and younger Americans,” Coinbase added.

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