Americans’ interest in the cryptocurrency industry has grown significantly in the past year, according to a survey by the Winklevoss-run crypto exchange, Gemini. Interestingly, Bitcoin has remained the most popular crypto asset, but the results show that US citizens have larger on-average positions in ETH, BCH, and LTC.
US Appetite for Crypto Rises
The past twelve months were somewhat transformative for the crypto space, with the COVID-19 pandemic serving as the catalyst. This resulted in the entrance of numerous large corporations and institutions.
Apart from impacting the prices, the purchases made from prominent companies such as MicroStrategy, MassMutual, Tesla, and more, made the news, which enhanced the industry’s popularity among crypto outsiders.
To better understand people’s changing perspective on the sphere, Gemini conducted a survey trying to determine if their demand has indeed risen. Roughly 14% of all participants said they had bought digital assets, with the majority – 74% being men and 26% women.
When it came down to age, the poll concluded that most investors are between 25 and 44 years old. In fact, Gemini noted, “our data shows that the ‘average’ cryptocurrency owner is a 38-year-old male making approximately $111k a year.”
63% of the respondents classified themselves as “crypto curious,” while 23 went into the “disinterested” graph. Surprisingly, more than half of the so-called curious were actually women.
“While just 26% of current crypto holders are women, we see the potential for this to change significantly. Women account for more than half (53%) of those interested in getting into crypto soon, representing a major potential shift.”
Americans HODL More Value in ETH and BCH
The paper outlined that among cryptocurrencies, BTC remains the most popular one for Americans. Nearly all (95%) participants answered that they are familiar with BTC. The percentage for ETH was 38%, BCH – 24%, LTC – 16%, USDT – 11%, LINK – 8%, XRP – 6%, BNB – 5%, and ADA – 2%.
Somewhat expectedly, 87% of those who already have bought digital assets said they own bitcoin. Ether, Bitcoin Cash, and Litecoin took the following spots with 36%, 22%, and 21%, respectively.
However, the average value owned – meaning the USD funds allocated in the aforementioned digital coins – showed significantly different results.
Americans love altcoins with average holdings of over $11,000 in Bitcoin cash (BCH), more than $10,000 in Ethereum (ETH), and just shy of $9,000 in litecoin (LTC). In contrast, the USD amount worth of BTC was about $8,500.