- Younger generations are now leading the position in terms of crypto adoption. Gen Z normally initiates investing at an average age of 22.
- As per the report released by ChainPlay, the survey comprised two attention-check questions to make sure participants answered considerately.
- As per the Federal Bureau of Investigation, crypto-associated scams are on the rise, after Americans lost more than $5.6 billion one year ago, a surge of 45% from 2022.
An online NFT and Dapps data-providing site, ChainPlay has recently conducted a survey that reveals that 70% of Americans own crypto, indicating a crucial step for virtual assets in the United States.
The survey comprised 1,428 participants, revealing crypto is becoming a go-to investment for people of any age. Political events play a significant role in this. After the notable win of Donald Trump, around 40% of Americans put more money into crypto.
52% sold stocks and gold to buy Bitcoin
It is important to note that 84% of these investors were first-time buyers, demonstrating how significant events can spark new interest in crypto. Most Americans are also upsetting their portfolio to purchase crypto.
More than half about 52% mentioned that they sold stocks or gold to purchase Bitcoin at the same time, and around 20% have put over 30% of their overall investments into crypto. Evidently, people are betting a large amount on the future of cryptocurrencies.
Chainplay quoted “Looking to the future, the survey on our platform shows a powerful sense of confidence in the crypto market. The majority of 60% of investors anticipate doubling their holdings by this year, indicating high optimism in the carried-on growth of digital currencies.
The younger generation leading the way
Younger generations are now leading the position in terms of crypto adoption. Gen Z normally initiates investing at an average age of 22, and millennials do the same at the age of 29, at the same time, Baby Boomers are late with this and start investing at an average age of 50.
The shift also shows that younger generations are more likely to be comfortable with virtual assets, and the older generations are adopting crypto at a comparatively slower pace.
At the same time, the boom of crypto has not come without risks. As per the Federal Bureau of Investigation, crypto-associated scams are on the rise, after Americans lost more than $5.6 billion one year ago, a surge of 45% from 2022.
The Federal Bureau of Investigation got over 69,000 complaints about crypto fraud, investment scams comprising 71% of the overall losses or estimated around $3.96 billion.
As per the report released by ChainPlay, the survey comprised two attention-check questions to make sure participants answered considerately. The invalid responses were not included in the final results. And we can conclude that cryptocurrency is becoming a mainstream asset for the majority of Americans.
