May 21, 2022

Survey: Crypto Holders Closing in On Brokerage Account Owners, Start Of A Trend?

3 min read

Research company Morning Consult just recently released their quarterly report and reveal intriguing data on crypto adoption in the United States. The firm’s “The State of Consumer Banking and Payments” attempts to supply insights on the brand-new characteristics, mindsets, and relationships in between customers and their banks and payment providers.

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The research firm based its conclusions on 50,000 study interviews conducted in the Americas, Europe, and the Asia Pacific region. The company likewise conducted a poll in December 2021 with a representative sample of 2,200 U.S. adults.

Amongst their key findings, Morning Consult claimed 2022 will see another crypto boom as these digital assets continue to get adoption. Because sense, the firm stated digital possessions owners aren’t always pulling out of the legacy financial system however are “dealing with more” conventional payment providers.

As seen below, the report found that crypto owners are growing and just recently went beyond other standard investment and savings vehicles, such as certificate of deposit and Robo-adviser investment accounts. Digital property owners stood at 24% of the participants and are close to the 31% that stated to own a brokerage account.

The latter permits U.S. citizens to invest in the stock exchange, and gain access to other securities managed by the U.S. Securities and Exchange Commission. The reality that crypto owners are focusing on stock financiers represents an essential shift in the U.S. and could be a sign of the future for the nascent asset class.

Crypto Poll 1
Source: Morning Consult, The State of Consumer Banking & Payments. Crypto Takes Over The World, Latin America The Friendliest Region The United States is far from the only region that experienced a boom in digital property adoption. Singapore, China, and Spain likewise saw essential boosts on these terms along with the Latin American Region. Morning Consult declared the following on their finding of digital asset adoption in other parts of the world as they stressed how

Almost 1 in 4 customers (24%) in our current global study reported home ownership of cryptocurrency, up 2 percentage points from July. Latin American nations still have among the highest rates of cryptocurrency ownership, but European nations Germany, Spain and the U.K. have actually grown considerably in the past 6 months.

Additional data offered by the report declares only 19% of the respondents are satisfied with their banks, 17% with their credit card business, 17% with their digital bank, and 13% with their cooperative credit union. This along with the data offered above recommend the potential start of a pattern that could prefer cryptocurrencies in the long run.

The report found that younger generations are more likely to own digital assets, with Bitcoin ranking as one of the fastest-growing brands of 2021. As seen below, Millennials and Gen Z adults with an income greater than $100,000 a year are the dominant groups in terms of crypto ownership.

Crypto Poll
Source: Morning Consult, The State of Consumer Banking & Payments.

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