A high number of unbanked and low income-earning persons in the United States are using cryptocurrencies for investments and transactions meaning crypto is playing a vital role in providing them an access to financial services that would otherwise be unavailable to them.
Most of those utilizing cryptocurrencies in the United States are using it as an investment compared to those using it as a payment method or for sending money to friends and family. Majority of those using it as an investment option earn over $100,000. Majority of those using it for transactional motives (payment or to send money) have an income of less than $50,000.
This is according to a recent Financial Well-Being survey report by the Federal Reserve Bank which surveyed 11,874 people. Out of the surveyed, 11% are using crypto for investment, 2% for payments, and just 1% to send money to friends and family. Therefore only 3% are using it for transactional motives. Most or 60% of adults using crypto for...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...