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Coinbase Publishes Research of Crypto Awareness in the United States

The crypto space continues to advance, with the online crypto trading getting busier than ever. Many in the crypto space find it fascinating to observe how the industry is progressing before their eyes. With that in mind, it is hardly surprising that there is a huge demand for data that would represent this constant progress.

Because of that the biggest crypto in the US, and one of the largest digitalcryptocurrency exchanges in the world, Coinbase, decided to do a research on the adoption and awareness levels of crypto in the United States. Not only that, but the exchange also published the results of its findings yesterday, June 28th.

What did Coinbase find out?

According to their survey, which spaned throughout 2018, the company managed to question over 2,000 participants. The results are quite insightful, as they show that crypto awareness in the US continues to grow.

Coinbase noted that around 58% of Americans have at least heard of Bitcoin and cryptocurrencies. Some of them are even interested in getting better acquainted with the crypto trend, as well as diversifying their investment portfolio with other coins. Furthermore, many are excited by the idea that a single currency could be used around the world. Of course, the low fees per transaction is also a popular aspect of the crypto space.

Coinbase was also interested in specifying which of the US states have the highest percentage of crypto ownership. According to their findings, the most crypto-friendly state is California, followed by the likes of New Jersey, Washington, New York, Colorado, Utah, Florida, Alaska, Nevada, and finally — Massachusetts. As for some other states, such as Wyoming, Delaware, and Nevada — the exchange discovered that the overall percentage of coin owners is lower. However, the percentage of ownership per-capita is higher, which indicates that a smaller number of investors tend to hold larger amounts of digital coins in these states.

Americans are excited about the idea of a world-wide currency

Next, Coinbase also wanted to know the coin holders’ motivations, asking them what inspired them to get involved with cryptocurrency in the first place. Many have responded by pointing out that it was a good investment opportunity. They wanted to learn more about the new technologies and get better acquainted with it. One 30-year-old participant even said that they believe that investing in cryptos makes more sense for people of their generation, at least when compared with other assets, such as stocks, bonds, and alike.

Clearly, the crypto adoption continues to grow in the US, and if the situation was like this last year, during the harshest crypto winter in the digital currencies’ history, the situation is likely even better now. Meanwhile, the increased rate of adoption has caused regulators around the world to start coming up with legislation that would address crypto and blockchain technologies.

The progress of crypto awareness’ growth can also be seen in online statistics, particularly when it comes to Google and YouTube searches. Bitcoin searches are particularly high on both, the video streaming platform, as well as on the world’s largest search engine. The attention has clearly shifted from some of the last year’s top searches, which included phrases such as ‘election results,’ ‘royal wedding,’ and alike.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.