Saturday, August 23, 2025

Crypto Adoption Among US Adults Drops to 7%, Fed Survey Shows

Cryptocurrency ownership and usage among adults in the United States has declined, according to the Federal Reserve’s latest annual household survey

The survey, conducted in October 2023 with 11,488 participating adults, revealed that only 7% of respondents reported using crypto in the past 12 months, a decrease from 10% in 2022 and 12% in 2021.

Source: The Federal Reserve

The survey found that just 1% of adults used crypto for payments or money transfers, while 7% held or purchased crypto as an investment. The results largely contradict Coinbase’s claim that 52 million Americans own crypto. It’s unclear where the crypto exchange platform gets this figure from.

Demographic analysis showed that millennials (aged 30-44) and adult Gen Zs (aged 18-29) were the most common crypto users, with men being three times more likely to use crypto than women. 

Source: The Federal Reserve

Black and Hispanic adults were the most frequent users of crypto for financial transactions, while Asian adults were the largest group using crypto as an investment. White adults, meanwhile, were the least likely to use crypto for any reason.

The survey also found that individuals with annual incomes of $100,000 or more were more likely to have used crypto. Among those who used crypto for financial transactions, the most common reason was the receiving party’s preference for crypto, while a lack of trust in banks was the least cited reason.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

A Medical Breakthrough the Market Overlooked | David Elsley – Cardiol Therapeutics

Why Grade Beats Size in Silver Mining | Frank Basa – Nord Precious Metals

Are Investors Missing the Start of the Next Commodity Supercycle? | Morgan Lekstrom – NexMetals

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

JPMorgan Finally Determines Bitcoin’s Intrinsic Value, Putting Price Speculation to Rest

The last few years for Bitcoin have been somewhat of a roller coaster; the cryptocurrency...

Thursday, May 28, 2020, 12:59:24 PM

Are Banks Quietly Closing Doors on the Crypto World?

In recent years, financial institutions have come under scrutiny for their alleged role in the...

Friday, November 29, 2024, 02:03:00 PM

Bitcoin Investors Should Monitor Key Policy Actions by the Incoming Biden Administration in U.S.

As Bitcoin’s ascent has grown even more steep over the last few weeks, it is...

Saturday, January 2, 2021, 09:00:00 AM

Powell Resists Trump Pressure for Aggressive Rate Cuts

Federal Reserve officials expect to cut interest rates just twice this year, down from earlier...

Wednesday, June 25, 2025, 02:18:00 PM

Gary Gensler Posts Words of Wisdom Against Crypto As SEC Nears Decision on Spot BTC ETF

US Securities and Exchange Commission (SEC) Chair Gary Gensler on Monday posted some words of...

Tuesday, January 9, 2024, 11:38:08 AM