Pew Research analysis reveals signs of growth in the cryptocurrency market!
According to the analysis by Pew Research Center, there is an upward trend in the cryptocurrency market. Over the past few years, there has been little change in the adoption of US cryptocurrency, and confidence remains strong.
The latest report from PY Research Center reveals that there is very little trust in American cryptocurrency markets, even as they continue to grow rapidly. The report, which was released on April 10, shows that 75% of American adults have no confidence in the security or reliability of cryptocurrencies. This discovery challenges the popular belief that cryptocurrencies are becoming more widely accepted and suggests that there is still much work to be done to convince the general public of their legitimacy.
The given statistic cannot accurately reflect the true sentiments of an average cryptocurrency investor, as there are significant differences in adoption rates based on age and gender. The survey raised several questions regarding the demographics of the US cryptocurrency market, such as age, race, and gender. The study involved communication with participants from different age groups, races, and genders, and received feedback from 10,071 respondents.
People over 50 years old and those involved in studies expressed the least emotional response, with a total of 10% and 8% of the population respectively purchasing some cryptocurrency. In contrast, at least one out of four American adult men invested in cryptocurrency.
It is worth noting that the use of cryptocurrency in the US differs from person to person. According to a report, “some 24% of Asian adults and 21% of Black or Hispanic adults say they have invested in or used cryptocurrency, compared with 14% of White adults.
The areas that should be mentioned and perhaps of concern are those where it is a fact that the use of cryptocurrencies in the USA is very low, with only 16% of participants claiming to have tried using cryptocurrency for the first time compared to previous Pew Center research. Despite this, there has been a 1% increase in total transactions between 2021 and 2023.
On the bright side, the study indicates that almost three-quarters of all American adults who invest in cryptocurrency still hold some investment.