- Kraken survey reveals 55% of Americans believe crypto has real-world uses, showing a shift in public perception.
- Despite skepticism, 73% of crypto holders plan to continue investing through 2025, signaling growing optimism.
- Generational differences show Gen X embraces crypto, while Gen Z remains hesitant due to a lack of understanding.
According to a recent study conducted by Kraken, one of the largest cryptocurrency exchanges, consumers’ perceptions of digital assets in the US are shifting. The poll of 2,537 people found that 55% of the US population – those who own cryptocurrencies and those who do not – think that cryptocurrencies have practical applications. This shows that people’s attitude is changing in the way that more and more they are willing to accept the digital assets, although there are still some doubts.
However, the Kraken survey revealed that 73% of respondents already invested in cryptocurrency revealed their intention to continue investing until 2025; at the same time, 29% of the total survey starters remain skeptical about cryptocurrencies. Out of the surveyed people, 43% said they are confident about the future of digital currencies and believe that crypto is safer than traditional financial systems. Also, 52% of respondents believe that it is a good long-term investment suggesting that the owners of cryptocurrencies are becoming more optimistic.
Kraken Debunks Crypto Crime Fears
However, the survey revealed that a lot of people still have wrong ideas about cryptocurrency. This shows that to date, 60% of the respondents are still able to link crypto currency with criminal activities even in the light of evidence to the contrary. For example, the 2024 Crypto Crime Report by Chainalysis revealed that about 0.34% of all the transactions have been associating with crime. This means that the fear of crime is not very much genuine and does not wholly represent the place of crypto in the economy.
However, 8% of the respondents still consider cryptocurrencies as a Ponzi scheme, a perception that hampers the growth of the cryptocurrencies. Surprisingly, though, 53% of the participants’ negative perceptions of crypto remain anchored on ignorance, which only shows that there is still much work to be done in terms of changing the public’s perception.
The Kraken survey also captured generational differences when it comes to the perception of crypto, as a whole. Surveyed by age, Millenials and Gen X had the highest confidence levels in the real-world use of cryptocurrency, with 63% of the Gen Xers considering it a good investment. This demography may have been affected by previous economic vices such as the 2008 recession and the 2020 pandemic which can make them stick to other micro finance institutions.
Generation Z’s Crypto Skepticism
On the other hand, the recent generations especially the Generation Z, the youths aged between 18 to 29 years, had poor confidence in the digital assets. Among this group, only 32% of them have understanding that crypto is useful in real life, and this may be due to the difficulties they encounter in comprehending the functions of the digital currency market.
Altogether, the survey of Kraken reveals that the use of cryptocurrency is gradually being accepted in the society and that there is still much to be done with regard to de-mythologizing crypto. Even though the American public has become more aware of the possibilities of investing in cryptocurrencies, an even better informed society can boost the adoption of crypto in investment plans.
