Crypto Adoption is Increasing in the US as New Coinbase Report Shows Over 52 Million Americans Own Crypto

• A new report shows that more than 52 million people in the United States own crypto. 
• Also, the data shows that owners of cryptocurrencies in the US are bipartisan, and they include Democrats and Republicans. 

Coinbase is one of the biggest crypto exchanges in the industry, and is one of the driving forces of crypto adoption. So, the new Coinbase report shows significant progress in crypto adoption. 

Coinbase Report Shows the State of Crypto in America 

Coinbase 

•  A new Coinbase report shows the state of the crypto industry in the United States. So, this Coinbase report was to showcase the perception of the citizens towards the financial system. The new study covered both the traditional finance system and the crypto industry. So, this new study shows that nine in ten (87%) Americans believe the financial system needs changing. About 87% of Americans believe that the current financial system in the country needs some modifications for optimal operations. 
• Another 51% believe that America’s financial system does not work fairly for everyone. Apparently, many of them think that the system exhibits traits of bias regarding certain levels of people in society. So, only around 14% of people in the United States were optimistic about the state of the financial system. 

Crypto Owners Against the Financial Systems

Coinbase

• According to the new Coinbase report, many crypto owners in the United States don’t have confidence in traditional finance. So, many of them believe that this is unjust. 
• As many as 63% of crypto owners agree that the system unfairly favors powerful entities. Another 40% of those who own crypto do so because they want to make cross-border payments to many states and countries across the world. So, another 72% of crypto owners fully believe it is the future of finance. Another 72% say they made investments in crypto because it gives them full access. 

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52M Americans own crypto. They’re younger & more diverse than the US population in total. But their voices aren’t being heard by Congress.

That’s about to change.

Here’s what we’re doing—and what you can do to help mobilize 1M people to #StandWithCrypto: https://t.co/stmH0WVUhO

— Coinbase 🛡️📞 (@coinbase) September 19, 2023

New Coinbase Report Shows Over 52 Million Americans Own Crypto 

Coinbase 

• The new Coinbase report made a breakdown of the people with cryptocurrency ownership in the United States. So, in total, about 52 million Americans have some kind of crypto ownership. In other words, 1 out of every 5 adult Americans own some crypto asset. 
• Another good point is that it is not only the more affluent class that owns crypto in the United States. So, even the middle class holds vast amounts of cryptocurrencies. About 75% of those who own crypto in the US have a yearly income of less than $100k. So, 60% of those who use cryptocurrencies in the US are either Gen Zs or millennials. Another 41% are racial minorities. So, about 21% of those owning crypto are Democrats, 18% are Republicans, and 22% are independents. 

Conclusion 

A new Coinbase report shows the diverse landscape of the crypto industry in the United States. So, their data shows that a large number of people in the US are not confident of the current financial system. Others also believe that the crypto industry is the future of finance. 

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