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Nearly 50% of American millennials are interested in cryptocurrency

A report by You.Gov shows that 48% of millennials in the United States are interested in the concept of cryptocurrency.

Written by Becky Leighton Published on

Almost half of the millennial population in the United States are interested in using cryptocurrency, according to studies.

A report from You.Gov, an American research service, has shown that 48% of American in the “millennial generation” are interested in the idea of digital tender:

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 US dollar. However, a majority (57%) say they would not be interested in converting away from the US dollar. Millennials are almost equally split between being interested (48%) and not interested (50%).”

The research also explored which cryptocurrencies are widely known and most popular in America. According to the results, 71% of Americans have heard of Bitcoin and a much lower 13% have heard of Ethereum. The study also found that 84% of men had heard of cryptocurrency as a concept with 73% of women saying the same.

The study investigated the interaction of those who had knowledge of cryptocurrency:

Of those who have heard of Bitcoin, 87% have had no interaction with it, meaning they haven’t bought, sold, or mined it. About half (49%) in this group say “I’m glad I didn’t buy Bitcoin earlier, and I don’t plan to buy it,” while 15% say “I wish I had bought Bitcoin earlier, but I feel like it’s too late now.” About one in five (21%) people between 35 and 54 chose this response, while only 11% of people 55 and up did.”

A similar study was done by Sustany Capital about a month ago and the research explored the interest that millennials have in adding cryptocurrency to their investment portfolios. That report showed that 88% of the 1,000 American adults who were surveyed said that they want to extend their investment options to include cryptocurrencies and a further 42% claimed that they would look to using cryptocurrency as some manner of savings.

Sustany’s report by the firm also showed that over 75% of those surveyed view cryptocurrencies as an investment option (rather than a means of tender). This is interested owing to the fact that 75% also expressed concern about the risk of security of the technology involved.

Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton

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