Around 50% of American Gen Z on the verge of using crypto currencies: Survey


Now that the cryptocurrency has been used for a variety of purpose. Why should American Millennials lag behind? A recent survey conducted by YouGov Omnibus claims that at least half of American millennials are actively focusing to use cryptocurrency. The survey organized from 29th to 30th August with the sample of 1202 respondents to support the answers regarding their interest to use cryptocurrency in their daily life.

The excerpts from the survey shows:

“Of the people who believe that cryptocurrencies will become widely accepted, over one-third (36%) say they would be interested in converting to primarily using a cryptocurrency rather than the U.S. dollar. However, a majority (57%) say they would not be interested in converting away from the U.S. dollar. Millennials are almost equally split between being interested (48%) and not interested (50%).”

Based on the poll conducted, least of cryptocurrency knowledge has been observed in almost 79 percent of Americans. The only cryptocurrency that was widely recognized was none other than ‘Bitcoin’ (BTC). About 71 percent of Americans familiar with the BTC. With this, only 13 percent of the participants have heard about Ethereum (ETH) and altcoin.

Besides this, 87 percent are those who have heard about the Bitcoin but never transacted with it so far. On the contrary, 49 percent of respondents profusely said that they were quite happy to stay away from the cryptocurrency, as well as they have not planned to trade in cryptocurrencies in the future. Amongst all the participants, 15 percent are those that regretted not having Bitcoin with them earlier else they would have made a very good return.

With this, 34 percent were a pessimist for the cryptocurrency. However, 44 percent millennials held positive approach saying that the cryptocurrencies will be widely adopted.

In June this year, ING Bank B.V. mandated Ipsos, a research company to organize a study on cryptocurrency. The findings of the survey show that the interest for cryptocurrency will increase amongst the people in the future. The sample of the survey included 1000 participants from 15 countries.

In a nutshell, the findings of the survey show that only 9 percent of participants that own cryptocurrency, whereas 25 percent will have it in the days to come. Besides this, 66 percent of Europeans have heard of cryptocurrency, whereas 35 percent accepted the fact that the crypto will become the online spending habit. Almost 35 percent affirmed that the value of cryptocurrencies will increase in the next one year.

There are mixed of feelings being observed based on the survey. However, those that have started using the new age technology and have understood the concept of cryptocurrency are the early adopters to reap the immense benefits that the blockchain has in place!!

Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.
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