One in five cryptocurrency users say the investments have hurt their economy

One in five cryptocurrency users say the investments have hurt their economy

Cryptocurrencies fascinate many but people have also been lured to invest in schemes that do not exist. A new survey shows that as cryptocurrency markets are taking hits from all sides – from declines in value to multiple corporate bankruptcies to lawsuits and regulatory threats – three quarters don’t trust these currencies. Roughly one-in-five cryptocurrency users say their investments have hurt their personal finances at least a little

Women are slightly more skeptical of investing in, trading or using cryptocurrencies. Among Americans who have heard about cryptocurrency, 80% of women say they are not confident in it, compared with 71% of men.

Among the vast majority of Americans who say they have heard at least a little about cryptocurrency (88%), three-quarters say they are not confident that current ways to invest in, trade or use cryptocurrencies are reliable and safe, according to a Pew Research Center survey.

39% who have heard about cryptocurrency say they are not at all confident and an additional 36% are not very confident in the reliability and safety of cryptocurrencies. 

Read Also:  Hundreds of millions euros lost via fake cryptocurrency call centres

On the other end of the spectrum, few of these adults are extremely (2%) or very (4%) confident in cryptocurrencies. About one-in-five (18%) say they are somewhat confident.

While concern about cryptocurrency is broad, some groups are more concerned than others. Adults ages 50 and older who have heard about cryptocurrency are more likely than their younger counterparts to say they are not confident in its reliability and safety (85% vs. 66%).

“Attitudes also differ based on whether someone has invested in cryptocurrency. While one-in-five cryptocurrency users say they are extremely or very confident that it is safe and reliable, that share drops to 2% among those who are familiar with cryptocurrency but have not invested. 

Read Also:  Romance online scams: $139 million in cryptocurrencies lost in 2021

Still, many who have invested in cryptocurrency also have concerns about its security: 43% of this group say they are not very or not at all confident in it.”

Overall, 17% of U.S. adults say they have ever invested in, traded or used a cryptocurrency. This share is mostly unchanged from surveys in 2021 and 2022.

“Younger men are more likely to use cryptocurrency compared with men 50 and older and women of any age. For example, 41% of men ages 18 to 29 say they have ever invested in, traded or used cryptocurrency, compared with 16% of women in the same age range.”

Roughly three-in-ten adults (31%) who have ever invested in, traded or used cryptocurrency say they currently do not have any cryptocurrency. Still, a majority (69%) say they do currently have 

45% of cryptocurrency users report that their investments have performed worse than they expected, a result that is statistically unchanged since July 2022, when the Center last asked about this. In comparison, 15% say their investments have done better than expected, 32% say they have done about the same as expected and 7% are unsure.

Read Also:  Fighting scammers: Go slow!


Moonshot News is an independent European news website for all IT, Media and Advertising professionals, powered by women and with a focus on driving the narrative for diversity, inclusion and gender equality in the industry.

Our mission is to provide top and unbiased information for all professionals and to make sure that women get their fair share of voice in the news and in the spotlight!

We produce original content, news articles, a curated calendar of industry events and a database of women IT, Media and Advertising associations.

[email protected]

Notify of
Inline Feedbacks
View all comments

    Do you want an experienced opinion on a job issue?
    Moonshot Manager is here to answer!

      Moonshot community sharing thoughts and ideas, in a anonymous, safe environment.