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21.2 Million US Adults own Cryptocurrency – Gemini Survey

Popular New York Crypto Exchange, Gemini has recently published a report showing the statistics of crypto users in the United States. The report shows that about 14% of US adults which translates to 21.2 million individuals own crypto assets. Gemini is an exchange known for its reliability and great customer service. The company carried out the survey in the months of October and November 2020. The aim of the survey was to provide market indicators for the company.

Data Extracted from the Survey

The project ensured that about 3000 individuals were questioned as to their knowledge and use of cryptocurrencies. Out of the 3000 individuals, 1697 of them indicated their desire to learn more about cryptocurrencies. From the stats gathered, 14% identified themselves as current owners of one or more cryptocurrency. A larger portion of the population signified their interest to learn more. This amounted to 63% of the respondents while 23% claimed they were not interested in cryptocurrencies.

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Majority of those who were already in the crypto space were born between 1980s and 1990s. Very few of those into it in the US were born in the late 1990s and early 2000s. This may be due to the fact that in most lands, only adults are permitted to own or trade cryptocurrencies. The United States has been identified as the home of most Bitcoin holders. It is closely followed by China. Other countries with a good number of holders include China, Switzerland and South Korea.

Crypto is most popular among the Caucasians or White Americans. About 71% of White Americans use or know about crypto. Among the Latino Americans, 13% use or know about cryptocurrencies. The Asian Americans and Black Americans follow with 10% and 9% respectively. While other ethnic groups in the US have only 1% of their population aware of cryptocurrencies.

From the Gemini survey, the respondents were also tested in terms of crypto asset awareness. As expected, some cryptocurrencies are more popular than others. When the respondents were asked about coins like Polkadot and Cardano, only 2% of the respondents who showed interest in crypto knew these coins.

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The Binance Coin which is becoming more and more popular was known by 5% of the respondents while Ripple was known by 6%. Chainlink was known by 8%, Tether 11 % and Litecoin 16%.

The most popular coins among the respondents were Bitcoin, Ethereum and Bitcoin Cash. Bitcoin was known by 95% of those who signified interest in cryptocurrencies while Ethereum and Bitcoin Cash grabbed the attention of 38% and 24% of the respondents respectively.

Info Drawn from the Statistics

The statistics of the survey reveal that there’s a lot of interest from US citizens in the crypto space. More individuals are willing to know more about cryptocurrencies.

This could also mean something for Gemini, the company that carried out the survey. There is a market gap that can be filled in the crypto space. Crypto Education is the niche that has such gap to be filled.

A unique selling point in the crypto education space targeted for the citizens of US can increase the revenue of Gemini or any company willing to take up this challenge.

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While crypto education already exists today, learning could be made more fun if some already existing complex learning methods are simplified.

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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