Now that the crypto market is starting to pick up again, sentiment is also slowly changing. But perhaps the trust is only small-scale, according to Pew Research Center the majority of Americans have little faith in crypto.
Majority of US residents: crypto is not very safe
The research office writes about the results of a survey it conducted. 88% of those surveyed have minimal Have you heard of cryptocurrencies? But a big one 39% of those surveyed have no confidence in the market at all, and a further 36% do not have very much confidence. Only 18% have some confidence, and 6% have a lot of confidence.
Not surprisingly, there are also major differences in confidence between older and younger investors. Of the sample participants older than 50, 85% thought the market is unsafe, but of those below this age limit ‘only’ 66% thought so. Women are also slightly more careful than men. 80% of women distrust the market, compared to 71% of men.
Perhaps a good part of the distrust can be explained by a lack of experience. One in five people who have already invested in crypto describe the market as safe, but that number drops to just 2% of people who have never invested in it. Still, 43% of crypto investors believe the market is not very safe or not safe at all. So there are also skeptics among the (possibly former) crypto enthusiasts.
Minor differences from other studies
17% of the participants say they have put money in cryptocurrencies at least once. That percentage has not changed from previous 2021 and 2022 Pew Research Center studies. A Coinbase survey found 20% of the US population.
It is true that this is a sample, so the figures may differ slightly per study. According to two other surveys conducted last January and mid-December, 55% and 60% of US residents, respectively, considered the market risky.