American adults with a relatively high income were more likely than adults with lower incomes to hold cryptocurrency as an investment tool. This is according to an annual household survey in the United States, that asked about how and why consumers would be using the digital asset. Lower incomes were more likely to use cryptocurrency as a transaction option – be it for retail payments, or to send money to family and friends in P2P or cross-border in a remittance. The use of cryptocurrency for financial transactions occurred more among Black and Hispanic adults than White or Asian adults. The source also adds that the typical crypto owner – regardless of being an investor or a user of transactions – was male and a young adult.
Share of respondents who said they used cryptocurrency either for investments or transaction in the United States in 2023, by age, gender, income, and race
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Starter Account
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Federal Reserve. (May 22, 2024). Share of respondents who said they used cryptocurrency either for investments or transaction in the United States in 2023, by age, gender, income, and race [Graph]. In Statista. Retrieved June 25, 2024, from https://www.statista.com/statistics/1421729/crypto-use-demographics-usa/
Federal Reserve. “Share of respondents who said they used cryptocurrency either for investments or transaction in the United States in 2023, by age, gender, income, and race.” Chart. May 22, 2024. Statista. Accessed June 25, 2024. https://www.statista.com/statistics/1421729/crypto-use-demographics-usa/
Federal Reserve. (2024). Share of respondents who said they used cryptocurrency either for investments or transaction in the United States in 2023, by age, gender, income, and race. Statista. Statista Inc.. Accessed: June 25, 2024. https://www.statista.com/statistics/1421729/crypto-use-demographics-usa/
Federal Reserve. “Share of Respondents Who Said They Used Cryptocurrency Either for Investments or Transaction in The United States in 2023, by Age, Gender, Income, and Race.” Statista, Statista Inc., 22 May 2024, https://www.statista.com/statistics/1421729/crypto-use-demographics-usa/
Federal Reserve, Share of respondents who said they used cryptocurrency either for investments or transaction in the United States in 2023, by age, gender, income, and race Statista, https://www.statista.com/statistics/1421729/crypto-use-demographics-usa/ (last visited June 25, 2024)
Share of respondents who said they used cryptocurrency either for investments or transaction in the United States in 2023, by age, gender, income, and race [Graph], Federal Reserve, May 22, 2024. [Online]. Available: https://www.statista.com/statistics/1421729/crypto-use-demographics-usa/
