Bakkt study finds nearly half of reported U.S. consumers have invested in crypto

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ALPHARETTA, Ga .– (BUSINESS WIRE) – Bakkt Holdings, LLC (Bakkt), a trusted digital asset platform that enables institutions and consumers to buy, sell, store and spend a range of assets digital, including bitcoin, released the results of its US Consumer Crypto Survey of more than 2,000 U.S. consumers, examining how ordinary consumers perceive cryptocurrencies and other digital assets.

Almost half (48%) of U.S. consumers said they invested money in cryptocurrency in the first half of the year. The findings provide additional context on how consumers would prefer to get the most out of digital assets in their daily lives, as well as the sentiments that inform their cryptocurrency habits.

Of those who have not invested in cryptocurrency, 32% of respondents are interested in purchasing cryptocurrency in the next six months. However, education will remain an important part of crypto adoption with 24% of respondents saying they don’t know where to start. The results also reveal the biggest barriers consumers face when buying crypto, as well as other habits and opinions that impact behavior.

Main national findings

Younger generations are embracing the digital economy: 37% of respondents aged 18-29 and 30-44, who have not bought cryptocurrency in the past six months, are somewhat or very interested in invest in cryptocurrency. This perception indicates that the ubiquity of digital assets and cryptocurrency is revolutionizing consumer buying habits and stimulating an increasingly dynamic new economy. Alternatively, people who haven’t bought cryptocurrency in the past six months, aged 45-60 and 60 and older, show less interest, confidence, and knowledge than their younger counterparts. , with only 25% interest in the 45 to 60 age group and 19% in the 60+ range. The Crypto Appeal: For those who have bought crypto before, 58% see it as a long-term investment, while 43% admit that they plan to sell when they can make a short-term profit. The purchasing power of crypto shows up prominently with 24% saying they plan to use it for online purchases and 12% saying they plan to use it for in-person purchases. Just as peer-to-peer (P2P) revolutionized cash, we are seeing that sending crypto to peers is possible and 11% of people were interested in doing so. The most attractive attribute of cryptocurrency for the full sample is long-term ROI (28%), with all other attributes being no fees, ease of access, FOMO, and lack of centralized control following closely. There is an opportunity to educate and demystify: almost 40% of respondents did not realize that they could buy part of a cryptocurrency (i.e. not the full price of ‘a play). Financial literacy and consumer understanding are essential to unite the cryptocurrency and digital asset ecosystem so that consumers can take advantage of new ways of acquiring and trading.

Survey results show Gen Z and millennials are embracing crypto and other forms of payment overwhelmingly, but the biggest obstacle in their path has been the lack of understanding of how to get started and concerns about market volatility, said the CEO of Bakkt. Gavin Michel. Digital assets are the engine of an increasingly dynamic new economy, and Bakkt is creating tremendous value for consumers by providing an extremely accessible and inexpensive entry into bitcoin investing.

Opportunities and Barriers for U.S. Crypto Consumers

As cryptocurrency becomes more and more mainstream, changing habits and perceptions bring opportunities and hurdles for new and inexperienced investors, including:

32% of respondents say that too much volatility is the main obstacle to buying cryptocurrency, while 24% of respondents do not know where to start. While some may think prices are high today, this was for a smaller group (11%) and the smallest barrier identified across all age groups. 39% of men surveyed said their biggest barrier to buying cryptocurrency is its volatility, while the biggest barrier for women (30%) is figuring out where to start. 35% of respondents have little knowledge of blockchain and cryptocurrencies while 35% of respondents said they have no knowledge. 45% of women surveyed said they knew nothing about blockchain and cryptocurrencies, compared to 24% of men. 27% of respondents say costs / fees are the most important factor in deciding which platform to buy cryptocurrency on, while 26% say they want a platform that is easy to use. 29% of men surveyed were most concerned about the costs and fees associated with buying cryptocurrency, while women put the most emphasis (28%) on wanting an easy-to-use platform. use for cryptocurrency transactions.

Overall, nearly 30% of respondents are either very or somewhat confident and 34% are neutral when asked how confident and confident they are in cryptocurrency. Similar to the trends shown with adoption levels across all age groups, younger people aged 18 to 44 are more likely to be very or somewhat confident in cryptocurrency than those aged 44 and over. who are generally less confident.

About the survey

Commissioned by Bakkt and conducted via an online survey tool, the survey interviewed over 2,000 consumers across the United States and was conducted in July 2021, providing insight into the number of people who have started exploring and to invest in cryptocurrency in the past six months. than those who plan to do so in the next six months.

To learn more about this research, please click here.

To download the Bakkt app, visit the App Store and the Google PlayTM store

About Bakkt:

Bakkt is a trusted digital asset marketplace that enables institutions and consumers to buy, sell, store and spend digital assets. Bakkt’s retail platform, now available through the recently released Bakkt app, amplifies consumer spending, lowers payment costs and strengthens loyalty programs, adding value for all key stakeholders in the market. within Bakkt’s payments and digital assets ecosystem. Launched in 2018 by Intercontinental Exchange, Inc., Bakkt is headquartered in Alpharetta, Georgia. For more information visit: https://www.bakkt.com/

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