Finder conducted a survey in order to find out the American population’s digital currency interest, ownership, and distribution statistics.
As per the survey, around 92% of the American population not invested in cryptocurrencies. Hence, it is discovered that just 8% of them are planning to invest in digital currencies in the coming time.
Although, research shows that survey of Finder is not correct representation of digital currency demographics in the United States. For proper information on it, take a look on the following numbers-
Information by Finder
Finder surveyed that how many Americans hold virtual currency, which cryptocurrency is purchased by people, why they choose a particular crypto, and individual’s percentage owning cryptocurrency and generation proportion purchasing the crypto. Also, the reasons why Americans are not purchasing cryptocurrency. Finder addressed these questions and reported that around 5.15% of crypto investors hold Bitcoin.
In the country, around 23.63% men and 29.99% women don’t have a faith in digital currency. They think that cryptocurrencies are complex to understand.
Although, the survey data not correctly represents the population of America. Finder has surveyed just 2,001 American adults that means 0.0011% of American adults as per the US Census Bureau.
Moreover, Finder have also not used weighting scheme. So, the surveyed 2,001 individuals doesn’t provide correct info of the population of America.
The analyses involves statistics weighing the data where the found data is multiplied through a factors in order to equal the population size, despite the population size sampled. Data provides the complete American population’s cryptocurrency demographics not only the sampled ones.
Correct representation of crypto sentiments and ownership in the country will be done by Finder if it have weighed data as per sex, race, education, geography demographics, and education in the American Community Survey Census Bureau.
Apart from this survey, there has been many surveys done. Survey Monkey and Global Blockchain Business did a joint survey using the weighing scheme in the month of January this year. As per the survey, statistics have been produced on cryptocurrency sentiments and ownership provided two percent +/- error margin.
The survey polled around 5,761 American adults and it has been found that just 5% of the American adults hold cryptocurrency, 21% thinking of purchasing digital currency, and remaining 58% crypto owners are white males (Less than 34).
In 2017, a survey done by LENDEDU searched the role of digital currency within the economy of America. Although, in data, no weighed data has been found; therefore, no accurate American cryptocurrency ownership data can be expected.
Nevertheless, a few statistics of the survey has been examined and compared with the Finder survey data. Though, in LENDEDU survey, just 1,000 individuals surveyed and in Finder survey, around 2,001 individuals surveyed.
It has been found by LENDEDU that
• Around 13.99% American adults own Bitcoin
• 17.18% American individuals are planning to invest in Bitcoin
Generation X and Millennials
The similarity that has been found in between the LENDEDU survey and Finder survey is millennials are the ones investing more money in digital currency. They are tracked by Generation X.
The Finder survey found –
• 8.75% Generation X surveyed
• 17.21% Millennials surveyed
The LENDEDU survey found –
• 32.54% Generation X surveyed that owned Bitcoin earlier
• 28.64% Millennials surveyed
The second similarity found in the statistics of both the surveys was females own more digital currencies as compared to males.
As per the Finder Survey –
• 4.27% females surveyed holding crypto
• 11.86% males
As per the LENDEDU Survey –
• 8.98% females surveyed own Bitcoin
• 21.82% males
Waiting for an Exemplary Survey
More studies and polling can be expected considering sentiments of different populations towards holding digital currency and making a crypto investment in the coming time as the market’s popularity will increase. However, at the moment, there is not a correct data that can provide useful statistics of digital currency ownership demographics. A good survey comes after calculating different gender, race groups, and ethnic in the US and that can correctly depicts the American population’s sentiments. Therefore, an exemplary survey is still awaited.