Americans Won’t Buy Crypto And Here Is Why

Although cryptocurrencies are deep in our mainstream society today with all the news and blog posts and articles on social media and online forums, the overwhelming majority of Americans still don’t use or own any digital currencies.

The astonishing part is actually not that people aren’t buying or using cryptocurrencies but the fact that a great number of them don’t have even a plan to do so in the future. Over 40% of those people who still don’t own digital currencies reveal that they are disinterested in them or don’t really see the practical need to own these assets. Also, more than 30% say that there are huge risks when dealing with cryptocurrency and less than 30% believe that the technology, in general, is too difficult to understand. People also strongly believe that cryptocurrencies are a fraud and that there is a no way of making a profit or earning decent money from them.

Some Americans at about 15% support the bubble theory and they are waiting patiently for it to happen just so they can say ‘’I told you so’’ and believe it or not this is an actual information from actual surveys. Others believe that crypto is just too complicated or that there are too many fees involved. Crypto is, however, loved by millennials with more than 15% of them owning digital currencies. The most popular cryptocurrencies among Americans are Bitcoin with more than 5% of the American people owning it, Bitcoin Cash at 0.90%, Ethereum at 1.80% and Ripple at 0.85%.