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Half of American Millennials Are Interested Using Cryptocurrency Will Boost Cryptocurrency Market

A vast majority of Americans are showing interest towards using cryptocurrency which will boost a cryptocurrency market.

Cryptocurrency is a digital currency designed to be decentralized. It is stated that 79 percent of people in the United States know about cryptocurrency. In which, Bitcoin is famous amongst all cryptocurrencies. 13 percent participants heard a name of the leading altcoin Ethereum.

87 percent participants heard about Bitcoin but didn’t sell and buy anything through this virtual currency. 15 percent of participants thought that they could buy Bitcoin earlier. 9 percent participants own cryptocurrency and 25 percent stated that they will own some crypto in the coming future. 

According to a report by Cointelegraph, answers of 1202 respondents are collected from August 29-30 by evaluating their interest using cryptocurrency: “Of the people who believe that cryptocurrencies will become widely accepted, over one-third (36%) say they would be interested in converting to primarily using a cryptocurrency rather than the U.S. dollar. However, a majority (57%) say they would not be interested in converting away from the U.S. dollar. Millennials are almost equally split between being interested (48%) and not interested (50%).”

This survey has shown a mirror image in the cryptocurrency market.

The data and information collected with the help of a survey led by an investigation group service called YouGov Omnibus; and the Americans included born after the year 2000 only, according to a report by Tecnologia.

Men heard almost every kind of cryptocurrency. Out of ten (27 percent), three women have not heard of any cryptocurrency, comparatively 16 percent of men chose the same answer. 17 percent of respondents said that cryptocurrency is used more for legal purchases. In which, Hispanic Americans believe that cryptocurrency is used for legal purchases, according to a report by YouGov.

Cryptocurrency will be accepted widely as it is expected that interest in the cryptocurrency market will be double in the future.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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