90% of Americans Have at Least Basic Cryptocurrency Knowledge: Survey

According to a recent survey conducted by Pew Research Center, the vast majority of US adults (86%) have heard at least a little about digital currencies. However, only 16% of the participants admitted they have personally invested in some of them.

Americans Are Aware of Crypto

The nonpartisan think tank – Pew Research Center – surveyed more than 10,000 American citizens to determine the level of crypto awareness among them. Per the results, 24% of the participants said they know a lot about digital assets, while 62% claimed they have only heard about them. 13% are not aware of what bitcoin, ether, or any other virtual tokens are.

The poll also revealed that 31% of the US citizens who have higher earnings are more likely to have heard about cryptocurrencies, while the percentage stands at 25% among those with average salaries. Only 21% of the individuals with lower incomes have basic knowledge about the matter.

The number of people aware of cryptocurrencies has grown significantly since a similar research back in 2015 showed that less than 50% of individuals knew about bitcoin.

The share of actual crypto investors and those dealing with the asset class, though, stands at just 16%. The trends change drastically when speaking about men aged 18 to 29 years old. According to the survey, they are the most active demographic group in the industry with 43% having experience in investing, trading, or using digital assets. This share among women under 30-years-old is 19%.

Somewhat expectedly, people above 65-years-old have shown no desire to jump on the digital asset bandwagon, and only a mere 3% of them admitted ever dealing with the asset class.

Some Americans Have Made Fortune from Crypto Investments

Data from another recent poll showed that around 4% of US residents who have invested in the crypto market have resigned from their jobs over the past 12 months as they have made sufficient profits. 7% of the participants said they know someone who had quit their job because they have accumulated cryptocurrency gains.

When taking a closer look, the large proportion of the individuals are those in the lowest income brackets since 64% were people receiving not more than $50,000 per year. On the other hand, only 8% of those earning over $150,000 have done that.

The results seemed to have impressed Mark Cuban – the billionaire entrepreneur and owner of The Dallas Mavericks – as he even shared the post on his personal Twitter account. He hinted that this percentage might increase in the future if bitcoin and the altcoins continue to increase against the dollar.