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New Survey Finds Surprising Crypto Demographics

A new poll shows an unlikely demographic showing major interest in the crypto market. This new market is young, male, and racially diverse.

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By James Sweet III | United States

Cryptocurrency has taken the world by storm, threatening the fiat currencies of major nations. The governments of these nations are very hesitant to embrace the blockchain, but their people are not. According to a survey by YouGov, 44% of Millenials believe that crypto will become more accepted in the future. This makes them the most optimistic generation of the cryptocurrency market.

Of these Millenials, 48% would be interested in switching their primary currency over to Bitcoin or another crypto. 50% would not be interested. Overall, 36% of the Americans surveyed said they would be interested in making the switch.

You wouldn’t need a survey to know that Bitcoin is the most well-known cryptocurrency among the American population. For those that like to hear numbers, you’d be happy to know that 71% of those surveyed have heard of Bitcoin before, with the second most well-known cryptocurrency being Ethereum, with only 13% of those surveyed hearing of it before.

Men may dominate the cryptocurrency community. 74% of men saying they have heard of Bitcoin while only 68% of women say they have. 27% of women said they have not heard of any cryptocurrency before, which is a significantly more amount than the 16% of men unfamiliar with cryptocurrency.

Race might play into the stereotypes of blockchain technology. 32% of Hispanics believe that cryptocurrencies are used for legal purchases more than illegal purchases. Only 12% of Caucasian’s interviewed said the same thing. African-Americans are in the middle, with 22% saying that cryptocurrencies are used for legal reasons more than illegal reasons. Overall, 17% believe that crypto technology is used more for legal transactions, while 25% believe that it is more used for illegal transactions.

Hispanics, Millenials, and men seem to be the most likely groups to embrace cryptocurrencies than the other groups in their category. Will the future of the crypto market be young minorities in a male-dominated society? Or can these numbers change with more women embracing the revolutionary technology?


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