Coinbase Crypto Adoption Rate released! Coinbase has published key findings about awareness and adoption trends in the United States. It’s findings? Crypto Adoption and awareness continues to grow!
The Coinbase survey spanned the past year and a sample size of 2,000 participants were polled. They revealed that cryptocurrency awareness in the US continues to grow, with about 58% of Americans having heard of Bitcoin. Many who had heard of Bitcoin were intrigued and expressed interest in diversifying their investment portfolio with digital currencies – another key factor of their interest in crypto was the idea of a worldwide currency and the lack of a high transfer fee.
The top 10 states with the highest crypto ownership are as follows – California, New Jersey, Washington, New York, Colorado, Utah, Florida, Alaska, Nevada, and Massachusetts. States like Delaware, Nevada, and Wyoming have an overall lower percentage of crypto owners, but a higher per capita ownership – fewer people own crypto in those states, but those that do own crypto hold a larger than average amount of them.
The primary reason why people chose to purchase cryptocurrency seems to be for the investment opportunity, new technology, and the ability to educate themselves about crypto.
One millennial respondent said that “for people in my generation, I think it makes a lot more sense than stocks, bonds, inflated real estate, or other depreciating assets.”
We can, of course, expect to see more legislation and regulations on crypto as adoption grows. As of this month, over 70% of US states have reportedly enacted regulations pertaining to crypto or blockchain.
In April of this year, Blockchain Capital revealed that a vast majority of Americans had heard of Bitcoin. The proportion of people who heard of Bitcoin increased from 77% in October 2017 to 89% in April 2019.
What do you think? When did you first hear of cryptocurrency? When did you first invest? Let us know on our Facebook page!
