Nearly Two-thirds Of U.S. Adults Interested In Crypto

Tue, 20 April 2021  |  investing payments 

A new survey by Gemini, the crypto exchange and custodian, points to a significant expansion and diversification of the nation's crypto investors. The 2021 State of US Crypto Report illustrates how attributes like gender, age, income and location are changing from the typical crypto investor. According to the report the number of cryptocurrency investors is set to double this year. In addition, older women make up the majority of the "crypto curious" — those on the brink of investing — and many of whom are nearing retirement.

The survey also revealed that there are many more people who are crypto curious — 63% of U.S. adults — than who are completely disinterested in crypto — just 23% — indicating a promising future for crypto's growth.

Other key findings include:

• More women than men are among those interested in getting into crypto soon, making up 53% of those crypto curious reporting interest about investing in the asset class. Looking deeper, only a quarter of these crypto-curious women are under the age of 35, and 25% are near retirement at 55 or older.
• Education is crucial in converting crypto-curious consumers to actual holders, with 39% of those who don't hold cryptocurrency considering themselves "somewhat or very" knowledgeable about cryptocurrency, but 60% identifying as "not very" or "not at all" knowledgeable. A strong majority of U.S. adults (77%) indicate they are open to learning more about digital assets, whether they already own cryptocurrency or not.
• The number of crypto investors is set to nearly double this year, with 13% of U.S. adults planning to purchase crypto in the next 12 months.
• The "average" crypto investor will be changing soon due to these new entrants — the current profile is a 38-year-old male making approximately $111,000 a year.
• The next wave of crypto buyers are older and have slightly smaller yearly incomes, with an average age of 44 and average household income of $107,000 a year.

"This new research signals a valuable and welcome diversification of crypto's investor base. A broader set of participants establishes a positive long-term evolution of the market," said Noah Perlman, Chief Operating Officer at Gemini. "Trading platforms that prioritize security and smart regulation, while making it simple for anyone to use, make cryptocurrencies accessible and attractive. We believe digital assets are a strategic part of a well-rounded portfolio and providing crypto education will help remove barriers to entry."

Source: Gemini