Crypto Becomes A Major Investment Way Between Americans In 2022

A recent survey revealed the level of crypto adoption among US citizens, with various assets becoming preferred investment options over traditional ways.

U.S Citizens Prefer Investing In Crypto than Other Traditional Means

According to Morning Consult’s The State of Consumer Banking & Payments study, published on January 25, 24% of U.S adults held Bitcoin or other coins/tokens since 2021.

It was somewhat more than the 23% of U.S citizens who held certificates of deposit. Furthermore, a certificate of deposit is a savings account that holds a fixed sum of money for a certain length of time.

In addition, 31% of respondents had brokerage accounts, while 14% had Robo-adviser investing accounts. A total of 2,200 adults in the United States participated in the study.

The rising cryptocurrency holders corresponds to the general market expansion lead by Bitcoin in 2021. Furthermore, the virtual money industry saw an invasion of institutional investors last year.

However, it is important to consider when investing in cryptocurrency. Bank savings accounts are insured and have a fixed value, while crypto market is extremely volatile.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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