78% of Americans Seek Diversification With Crypto, 46% Satisfied With Such Investments – Survey

Among the Americans who have invested in crypto, as many as 78% view it as a way to diversify their investments, and a combined 46% say their allocations to crypto have brought about the same performance as they expected or better, according to a recent survey by US nonpartisan think tank Pew Research Center.

This survey was conducted among 6,034 US adults from July 5 to July 17, 2022. 

About 16% of the polled US adults have admitted to investing, trading, or using crypto, according to the poll. Some 71% have not engaged in such activities, and 12% declared they have not heard about cryptocurrencies.

Among those who have invested their funds into crypto, 15% say their investments have performed better than they expected, and for 31%, these investments have done about the same as they expected. These two groups combined represent 46% of the polled. 

Meanwhile, another 46% of the surveyed believe these crypto ventures have performed worse than they expected, and 8% are not sure how to evaluate their performance, as indicated by the survey.

While 78% of the polled say their crypto activities are driven by a need to diversify their investments, 75% stated that they are a good way to make money.

“Some 54% say at least a minor reason [for investing] is that they think crypto is easier to get into than other ways to invest. Smaller shares cite being more confident in cryptocurrencies than other investments (39%) and wanting to be part of a community (33%) as at least a minor reason for investing,” Pew Research Center said.

Based on the survey’s results, US men are 14 percentage points more likely than women to declare they have used crypto, and adults under the age of 50 are more likely than those 50 and older to be crypto users, at 25% and 7%, respectively.

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– 13% of Surveyed Canadians Owned Bitcoin in 2021, Up from 5% in 2020 – Bank of Canada

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