Updated on:12/05/2025 05:18 PM 
A comprehensive study conducted by Pew Research Center has unveiled that despite growing awareness, the majority of Americans harbor significant reservations about cryptocurrencies, citing safety concerns as the primary barrier to adoption.
The digital currency landscape continues to represent an unfamiliar territory for most Americans, with recent market developments potentially exacerbating public skepticism toward this emerging financial ecosystem.
According to the latest data, merely 17% of American adults have engaged in cryptocurrency investments or usage, a figure that has remained relatively stable compared to 16% recorded in August 2022.
The comprehensive survey, which included 10,701 participants across the United States in March 2023, revealed that while 88% of U.S. adults are now aware of cryptocurrencies, approximately three-quarters of these individuals perceive crypto trading and investment as inherently risky and unreliable.
Confidence levels in cryptocurrency remain strikingly low, with only 2% of American adults expressing extreme confidence and just 4% reporting very high confidence. Meanwhile, 18% of respondents indicated moderate confidence in digital assets.
The research highlighted that age demographics play a crucial role in shaping perspectives on cryptocurrency, with individuals aged 50 and above demonstrating substantially greater skepticism toward digital currencies.
Statistical analysis showed that 85% of respondents over 50 years old view cryptocurrency as an unreliable investment vehicle, compared to 66% of younger Americans under 50.
Gender disparities in cryptocurrency adoption are particularly pronounced among younger demographics. The survey data indicates that young men represent the primary user base for cryptocurrency in America, with 41% of males aged 18 to 29 having participated in crypto investments, trading, or usage. In contrast, only 16% of women within the same age bracket reported similar engagement.
Overall, women exhibit greater caution regarding cryptocurrency investments and trading activities, with 80% of female respondents expressing low confidence in digital assets, compared to 71% of men.
Furthermore, the research revealed significant variations in cryptocurrency adoption across different racial groups. Asian, African American, and Hispanic adults demonstrated higher propensity to engage with cryptocurrency compared to White Americans.
Specifically, 24% of Asian adults reported having purchased, traded, or utilized cryptocurrency, while the figure stood at 21% for both African American and Hispanic adults, and 14% for White adults.
The Pew Research analysis identified clear correlations between income levels and cryptocurrency investment behavior. Individuals from upper and middle-income brackets demonstrated substantially greater likelihood to participate in cryptocurrency markets compared to those in lower-income groups.
Approximately one in five adults from upper-income backgrounds (21%) and middle-income households (19%) had engaged in cryptocurrency purchasing or trading activities, whereas only about one in ten individuals from lower-income groups (10%) reported similar participation.
Among American adults who had purchased cryptocurrency, the vast majority (69%) continue to hold some digital assets, while 31% have completely divested from cryptocurrency holdings.
The study noted that individuals from lower-income households are more likely to liquidate their cryptocurrency holdings during periods of financial stress, with 43% of such respondents having sold all their digital assets.
Regarding performance expectations, nearly half of cryptocurrency investors (45%) reported that their digital asset investments underperformed relative to expectations, while only 15% experienced better-than-anticipated returns.
Nevertheless, the majority of cryptocurrency investors (60%) indicated that their digital asset activities did not adversely affect their personal financial situations. Meanwhile, approximately 20% reported positive financial impacts from their crypto investments, while 19% experienced negative consequences.
