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Cryptocurrency ownership is growing, but investors are not abandoning traditional financial services due to the growing interest in crypto assets. On the contrary, crypto investors are more likely to use multiple financial service providers than the general population, according to a recent report by the global business analytics company Morning Consult.
The report, dedicated to consumer banking and payments and based on surveys of more than 50,000 adults in North and South America, Europe and the Asia-Pacific region, indicates that cryptocurrencies are gaining mass status.
He also advises readers to prepare for the cryptocurrency boom in 2022.
About 24% of consumers who participated in the company's global survey reported that their households own cryptocurrency, which is 2 percentage points more than in July last year.
According to Morning Consult, Latin American countries still have one of the highest rates of cryptocurrency ownership, but European countries, Germany, Spain and the UK, have grown significantly over the past six months.
According to the report, in July 2021, the number of cryptocurrency owners increased dramatically, most likely due to the fall in the price of bitcoin (BTC) and media coverage.
Millennial men and Generation Z adults are still the most common newcomers, according to the report, which states:
[D]Emotionally, the new owners of the cryptocurrency were very similar to those who already owned the cryptocurrency: the study says that they were mostly highly paid millennial men. Adult Generation Z have also demonstrated significant growth in cryptocurrency ownership and will continue to play an important role in the success of cryptocurrency in a broader sense.
On the contrary, baby boomers are still mostly not interested in crypto assets, while their ownership share ranges from 6% to 8%, according to the survey data.
Meanwhile, among a group of 2,200 American adults surveyed between December 23 and December 25, 2021, cryptocurrency owners were significantly more likely to be customers of two banks (34%) than all American adults (22%).
According to the study, they were also more likely to be customers of three or more banks (13% compared to the general population (8%).
The report shows a similar situation in the field of credit card companies. About 30% of the cryptocurrency owners surveyed say they are clients of two such companies, while 22% of all American adults gave the same answer.
Another 33% of crypto investors are clients of three or more such companies, while among the general population this applies to only 19% of respondents.
Using the services of two credit unions is significantly more popular among crypto users (17%) than among the general population (8%).
As for digital banks, 25% of cryptocurrency owners use the services of two such institutions, compared with 11% of American adults in general.
7% of crypto owners are clients of three or more digital banks, while among the general population, only 3% of respondents gave the same answer, according to the data from the report.
