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.