There are always concerns over the rate at which cryptocurrencies are embraced globally. A new survey conducted by CoinFlip shows things are heading in the right direction across the US. Nearly 20% of the population holds, or has ever invested in cryptocurrencies.
Cryptocurrencies in the US.
In theory, the United States should dominate the cryptocurrency landscape. It is the country with the most Bitcoin ATMs, as well as some of the biggest exchanges in the world. Moreover, every trading platform supports the US Dollar, just in case some Americans would explore their options. Even so, it remains incredibly to difficult how popular crypto assets really are.
Conducting a survey is one way of obtaining more useful data. CoinFlip has done exactly that, and the results are rather interesting. Not only are American still very keen on cash payments, they also show an interest in cryptocurrencies. So much even that roughly 20% of all citizens could have owned crypto at one point, or is still invested in it today.
Surprisingly, the Southern part of the US is more keen on exploring Bitcoin and altcoins. Half of the respondents from that part of the country confirm they try to pay for living expenses with cryptocurrencies. It is not always possible to do so, but it shows there is a loyal community. Making a real impact in the other half of the US will remain a key challenge.
Of all Americans responding to the survey, most of them only know about Bitcoin. No big surprise there, as it is the only cryptocurrency making mainstream media headlines more than once every blue moon. It also goes to show that, for those not invested in crypto, altcoins are completely irrelevant. An interesting tidbit to keep in mind.
Cash Remains Popular
Contrary to what the media may want Americans to believe, cash payments aren’t going anywhere. Primarily the West Coast is intent on paying with cash whenever possible. Over half of the population always has it on hand. Similar trends can be noted in the Northeast and Midwest regions of the US. In the South, it is far less popular, yet that is the place where crypto adoption is on the rise.
Speaking of which, cryptocurrency enthusiasts have no love lost for cash these days. Three in four crypto investors are confident they can live without paper bills and coins for the rest of their life. A very bold statement, especially when Bitcoin isn’t a viable payment method throughout most of the country. Until that changes, it may be best to keep a few dollars in one’s pocket.
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