The turmoil in cryptocurrency markets has taken a toll on investments. Among the 16% of U.S. adults who say they have ever invested in, traded or used a cryptocurrency such as bitcoin or ether, 46% report their investments have done worse than they expected, according to a new Pew Research Center survey.
By comparison, 15% of these Americans say their investments have done better than they expected, 31% say they have worked out about the same as they expected and another 8% say they are not sure.
The survey, which was conducted July 5-17, 2022, shows that the overall share of U.S. adults who have ever invested in, traded or used a cryptocurrency (also referred to as “crypto users” in this analysis) is unchanged since September 2021. This lack of overall change comes despite strong attention to crypto in the news.
Pew Research Center conducted this study to examine the ways technology is transforming how Americans invest and make purchases. This survey was conducted among 6,034 U.S. adults from July 5-17, 2022. This included 4,996 respondents from the Center’s American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. This way nearly all U.S. adults have a chance of selection. It also included an oversample of 1,038 respondents from Ipsos’ KnowledgePanel who indicated that they are lesbian, gay or bisexual (LGB), with oversampled groups weighted back to reflect proportions in the population. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Read more about the ATP’s methodology. Here are the questions used for this analysis, along with responses, and its methodology.
This survey includes a total sample size of 234 Asian adults. The sample primarily includes English-speaking Asian Americans and, therefore, may not be representative of the overall Asian adult population. Despite this limitation, it is important to report the views of Asian Americans on the topics in this study. As always, Asian adults’ responses are incorporated into the general population figures throughout this report.
The new survey also explores the reasons people have for investing in cryptocurrencies.
Among the 16% of Americans who say they have ever invested in, traded or used a cryptocurrency, about three-quarters say that a major or minor reason is that they want a different way to invest (78%) or that it is a good way to make money (75%). Some 54% say at least a minor reason is that they think crypto is easier to get into than other ways to invest. Smaller shares cite being more confident in cryptocurrencies than other investments (39%) and wanting to be part of a community (33%) as at least a minor reason for investing.
Certain groups are particularly likely to say they have used cryptocurrencies
As the Center found in the 2021…
Read More: www.pewresearch.org