61% of US Consumers Are Considering Buying Crypto in 2022

voyager digitalCrypto Confidence Survey has announced more than 6000 Americans, and it is one of the fastest growing cryptocurrency platforms in the United States. The data shows that US consumers are gaining confidence in cryptocurrencies as they reach mainstream acceptance and continue to expand in utility.

Heading into 2022, nearly two-thirds (64%) of US consumers surveyed are “crypto bulls,” believing the category will continue to gain value in 2022, and a similar percentage (61%) saying they are considering buying cryptocurrency. general. Bitcoin set a record year in 2021, and 41% of Americans believe it will grow in value in 2022. But the growing interest in the cryptocurrency goes far beyond Bitcoin. Today, according to the survey, more Americans would consider buying altcoins, such as Dogecoin, and stablecoins, such as USD Coin, than they would buy Bitcoin (44% vs. 39%). Most of the current cryptocurrency holders bought both Bitcoin and altcoins (60%), while 18% bought only Bitcoin and 22% only altcoins.

Based on the survey, 2022 is expected to be a remarkable year with more than half of American consumers considering buying cryptocurrency. Among the current cryptocurrency owners, 76% believe that owning a cryptocurrency is a way to protect against inflation. The survey also found that a majority of Americans agree that coded education is important and should begin in the classroom, in high school, or sooner. Voyager is well positioned to serve this growing interest in cryptocurrencies with its easy-to-use app and platform that brings crypto to the real world.

Key national findings include:

Confidence in cryptocurrencies is high, and Americans are backing down from the idea that it’s just a shout:

  • 66% of Americans believe crypto will be widely accepted within the next five years, with women believing it is more likely to happen in the next three years than men (53% compared to 44%).
  • Most Americans (61%) say they will likely buy cryptocurrency in 2022, including the majority of Gen X (62%) and nearly a third of Boomers (32%).
  • Two in five Americans (43%) believe crypto is the future, including the majority of millennials (59%) and nearly half of Generation X (46%).
  • 82% of current crypto investors plan to buy more cryptocurrencies in 2022.
  • 87% of cryptocurrency investors say they are in the market in the medium or long term

Americans are excited about the opportunities to integrate cryptocurrency into their daily lives:

  • Half of Americans would be interested in getting at least 10% of their salary in cryptocurrency, while 50% of cryptocurrency owners would like at least 25%.
  • 55% of Americans are excited about their ability to buy a home with cryptocurrency.
  • Nearly a third (32%) would rather have $20 in Bitcoin than $20 in cash.
  • Half of Generation Z (51%) agree that cryptocurrency would be a good Valentine’s Day or graduation gift.

2021 saw increased regulation in the industry, but Americans are concerned:

  • More than half (54%) of Americans believe that most politicians do not know enough about cryptocurrencies to effectively regulate them.
  • More than two-thirds (71%) of Americans are concerned about regulatory overreach in cryptocurrency, including three-quarters (77%) of Millennials and Generation Z and two-thirds (67%) of Generation X and Boomers.

Millennials in particular are behind cryptocurrencies:

  • 82% of millennials are excited about the ability of cryptocurrency to reduce dependence on banks.
  • Millennials bought more cryptocurrencies (41%) in 2021 than mutual funds (23%) or new cars (27%). More millennials bought cryptocurrency in 2021 than started a romantic relationship (19%).
  • 82% of millennials are excited about being able to buy a cup of coffee with cryptocurrency.
  • 55% of millennials believe that cryptocurrency should be treated like any other currency.
  • 66% of crypto investors reported recommending cryptocurrency to their friends and/or family in 2021.
  • 67% of millennials want to know more about cryptocurrency.

Americans need and want more coding education:

  • Half of Americans would invest more in cryptocurrency if they understood it better, and most (55%) would like to know more about crypto.
  • Almost half of Gen X and Boomers (45%) wish they had learned about cryptocurrency at a younger age.
  • Half of Americans (50%) wish they had learned about cryptocurrency at an early age.
  • 66% of Americans believe that cryptocurrency should be taught in high school or before, and 33% believe that crypto education should happen even as early as middle school or earlier.
  • Most Americans follow cryptocurrency news (64%). Existing investors, in particular, are hooked, with 97% of cryptocurrency investors following crypto news.
  • Polly Jane Harrison

    Polly is a North Wales journalist, content creator and opinion-maker. She has written for a number of publications, usually hovering around the topics of fintech, technology, lifestyle and body positivity.

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