Survey Shows Young Americans’ Interest in Cryptocurrencies

Survey Shows Young Americans’ Interest in Cryptocurrencies

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Compared to other age groups, younger Americans seem to be more interested in cryptocurrencies.

According to the most recent broadcast published by LendEDU at the end of October, the digital student loan consultant company asked around 1,000 American citizens about Ripple’s XRP token.

The survey accordingly showed 31.6% of participants have previously heard of Ethereum (with the intention to invest from 18.2%) while 22.2% have heard of XRP (with the possibility of purchase of 14.8% in some)

After analyzing the results by demographic and age, the data shows that around a third of participants between the ages of 18 and 44 showed interest to invest in ether, while another third refused. The remaining third showed uncertainty.

A far lesser portion of adults aged 45 and above prepared to invest in ethereum, with 89%-98% of participants saying they were either uninterested in the service or unsure.

The results of this analysis closely resemble LendEDU’s initial survey, which instead focused on bitcoin. In the survey, most of the participants who had heard of bitcoin were also among younger age demographic, while participants of old age payed less attention to the cryptocurrency.

The most recent survey also discussed initial coin offerings (ICO), claiming that around a quarter of participants have heard of the blockchain model, while the remaining 75% had not. However, there was evident uncertainty around the opinion of ICOs even among the participants who have heard of them.

LendEDU discussed the results by stating:

“In the survey we conducted in September, we found that 10.69% of Americans believed that obtaining bitcoin was against the law in the United States. In October, it increased to 21% of respondents believe that investing in an ISO is illegal. And, 61% of participants were uncertain about the legality of the investment.”

On the contrary, 15% of participants revealed that they would like to plan in an ICO in the likely future.

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