Americans’ interest in the cryptocurrency industry has grown significantly in the past year, found a survey by the Winklevoss-run crypto exchange, Gemini. Interestingly, BTC has remained the most popular digital asset, but the results show that US citizens have larger on-average positions in ether, BCH, and LTC.
US Appetite for Crypto Rises
The past twelve months were somewhat transformative for the crypto ecosystem, with the COVID-19 pandemic serving as the catalyst. This led to the entrance of numerous large corporations and institutions.
Apart from impacting the prices, the purchases made from prominent companies like MicroStrategy, MassMutual, Tesla, and more, made the news, which enhanced the industry’s popularity among crypto outsiders.
To better understand people’s changing perspective on the space, Gemini conducted a survey trying to determine if their demand has indeed increased. Roughly 14% of all participants said they had purchased digital assets, with the majority – 74% being men and 26% women.
When it came down to age, the poll concluded that most crypto investors are between 25 and 44 years old. In fact, Gemini noted, “our data shows that the ‘average’ cryptocurrency owner is a 38-year-old male making approximately $111k a year.”
63% of the respondents classified themselves as “crypto curious,” while 23 went into the “disinterested” graph. Interestingly, more than half of the so-called curious were actually women.
“While just 26% of current crypto holders are women, we see the potential for this to change significantly. Women account for more than half (53%) of those interested in getting into crypto soon, representing a major potential shift.”
Americans HODL More Value in ETH and BCH
The paper outlined that bitcoin remains the most popular cryptocurrency for US citizens. Nearly all (95%) participants answered that they are familiar with BTC. The percentage for ETH was 38%, BCH – 24%, LTC – 16%, USDT – 11%, LINK – 8%, XRP – 6%, BNB – 5%, and ADA – 2%.
Somewhat expectedly, 87% of those who already have purchased digital assets said they own bitcoin. Ether, Bitcoin Cash, and Litecoin took the following spots with 36%, 22%, and 21%, respectively.
However, the average value owned – meaning the USD funds allocated in the aforementioned digital coins – showed significantly different results.
Americans love altcoins with average holdings of over $11,000 in BCH, more than $10,000 in ETH, and just shy of $9,000 in LTC. In contrast, the USD amount worth of BTC was about $8,500.