Good day everyone,
I hope you are all well and having a great day, welcome to CryptoGod-1's blog on all things crypto. According to a recent survey by Coinbase, roughly 20% of Americans own some form of crypto, and today I will be looking into that in detail. This information was posted by Morning Consult on behalf of Coinbase, with their survey finding that about 5.3 million Americans own at least one crypto. They study was conducted to gain a greater understanding of the current global financial system and users views regarding the future of the crypto market. The survey consisted of around 2,000 American adults.
20% of Americans
Within the finding of the report, the general consensus from about 80% of Americans was that the global financial system was unfair, expensive, and even confusing. The overriding feeling was that it favours powerful interests, which is a sentiment that cuts across all demographic groups with discrimination. Basically this means they feel the current system in place is made to favour those who are in positions of power or already have wealth, while the rest have to carry the slack. From the report, an overwhelming 67% feel the overall global financial system needs a complete overhaul, while only 4% believe the system is perfectly fine as is and does not require change.
At the same time, the survey found out that Americans have expressed a favourable and optimistic view of crypto assets. From the respondents, about 52% of crypto investors indicated that they believe both crypto and blockchain will make the financial system fairer.
When it comes to owning crypto assets, the survey discovered that around 20% or 52.3 million of American adults reportedly own some type of cryptocurrency, while 75.5 million are of the opinion they will likely invest in or trade some form of crypto within the next 12 months. The highest demographics within the population which supported this notion were the Gen Z and Millennials. According to the data, a total of 36% of Gen Z and 30% of Millennials already own some form of crypto asset.
*For this survey, “Gen Z” was defined as U.S. adults aged 18-25, while Millennials were defined as U.S. adults aged 26-42.
While 2022 was a difficult year for everyone involved in crypto, there is still optimism within the space. Enthusiasm for the asset remains high among those already engaged with crypto and many believe that the best days are still yet to come within the space. An overwhelming amount of support was given from the people surveyed towards crypto being a worthwhile investment, that it will be broadly beneficial for society to address inequality in the financial system, and a great asset to have for the future. Just over half felt that it can make the financial system fairer.
Rest of the World
It certainly shows some interesting insights into the view of crypto ownership within the United States. When compared with the information available globally, as shown below from Statista, Nigeria was the most active nation on the planet in terms of crypto asset ownership. A staggering 45% of the population were involved with crypto, which considering the population of Nigeria is about 213.4 million people (U.S.A. is 331.9 million) then that equates to about 96 million people in Nigeria using crypto.
When looking at the other countries with large userbases of crypto, we can see that their population and user count amount to:
Nation - Population - Crypto Users
Thailand - 71.6 million - 31.5 million
Turkey - 84.78 million - 33.9 million
Argentina - 45.81 million - 16 million
U.A.E. - 9.37 million - 3.19 million
Philippines - 113.9 million - 33 million
Vietnam - 97.47 million - 26.3 million
India - 1.4 Billion - 350 million
Singapore - 5.45 million - 1.36 million
Brazil - 214.3 million - 51.4 million
South Africa - 59.4 million - 14.26 million
Malaysia - 33.57 million - 6.71 million
Netherlands - 17.53 million - 3.5 million
In comparison with the United States, who as noted above, have a population of 331.9 million and crypto users at 52.3 million (16% of adults, roughly 20% of overall population) then the USA would still have a similar amount of users as the likes of Brazil, more than Thailand and Turkey, and about 1/7th of India. It is all to do of course with the amount of inhabitants in said nation, but it can still give a good idea towards how adoption of crypto in going in these nation overall.
All information regarding population was taken from the most recent census data available.
So there we have it, the users and their opinions in the United States when it come to the global financial market and the use of crypto. Interesting information for sure and I am certain these figures will only grow over the coming months and years.
Have a great day.
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