Visa‘s ‘Crypto Phenomenon‘ Study Identifies Five Different Types of Cryptocurrency Consumers: Are You One of Them?

<p>Cryptocurrency is becoming more widespread as a result of a number of causes, including institutional adoption, more accessibility through trading applications and social media, as well as increased acceptability and understanding. According to a new Visa poll titled "The Crypto Phenomenon: Consumer Attitudes and Usage," global awareness of cryptocurrencies is at 94% among those with discretion over their household finances.</p> <p>According to Visa's analysis of the collected data, there are five distinct sorts of crypto-aware consumers in the modern marketplace: active owners, passive owners, sceptics, those who are intrigued, and those who are disengaged.</p> <p>While cryptocurrency acceptance is still in its infancy, it is substantial – and expanding rapidly. Nearly one-third of crypto-aware consumers now own or use cryptocurrency (21% of respondents are active owners and 11% are passive owners), with 62% of all crypto holders reporting an increase in their ownership or use of cryptocurrency over the last year. Sixty-six percent of cryptocurrency owners indicated that they intend to raise the proportion of their investable assets held in cryptocurrency during the next 12 months.</p> <p>Visa's survey shows various categories associated with cryptocurrency engagement.</p> <p>Age, Gender, Ethnic Origin, Nationality, and Income Are All Statistically Significant When It Comes to Crypto, Survey Finds First, engagement is skewed towards men, as nearly two-thirds of consumers who transact with cryptocurrency are men — 65 percent of active owners — while a sizable majority of completely disengaged consumers — 57 percent — are women.</p> <p>One notable exception to this tendency is Hong Kong, where there is negligible gender disparity in crypto market participation.</p> <p>Additionally, Visa notes that interaction with cryptocurrency is highly correlated with age. Those with a higher level of crypto market activity are typically younger, whereas those with a lower level of — or no — engagement are typically ol