Majority of US Adults View Crypto as Unsafe, Survey Says

Pew Research Center finds that though 17% of US adults have ever invested in or used crypto, 31% currently don’t hold it


emerge/Shutterstock modified by Blockworks


The majority of Americans with crypto on their radar question how safe the space is, a recent survey suggests. 

A report published on April 10 by Pew Research Center found that 88% of US adults have heard of cryptocurrencies. Of those, three-quarters are not at all (or not very) confident in the safety and reliability of such assets.

The findings reflected answers gathered last month from roughly 10,700 US adults.  

While many view crypto as a potentially dangerous investment, the percentage of those involved in the space has risen slightly. 

Seventeen percent of US adults said they have invested in, traded or used a cryptocurrency — a slight increase from 16% in an August 2022 survey. Younger men are the most likely group to use crypto, as 41% of men ages 18 to 29 said they have invested in such assets.

Those who have jumped into the crypto sector have felt different levels of satisfaction in their decisions.

About 45% reported that their crypto investments have performed worse than they expected, with just 15% of respondents saying they have been pleasantly surprised. About a third reported that crypto has performed at the level they expected when initially investing.

Bitcoin (BTC) is up about 75% year to date, but is down about 58% from its all-time high of about $69,000, reached in November 2021.

Of the adults who have ever invested in the space, 31% said they currently don’t hold crypto. Just 16% of adults who were ever involved in the space became users in the past year. 

The survey comes as US regulators have recently targeted crypto firms and executives, such as Coinbase and Tron network founder Justin Sun, for alleged securities violations as legal frameworks for the space remain lacking

The SEC’s Office of Investor Education and Advocacy said in an investor alert last month that “investments in crypto asset securities can be exceptionally volatile and speculative.”

This language seemed to echo the tone of the White House’s annual Economic Report of the President, which stated the design of digital assets “frequently reflects an ignorance of basic economic principles.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Aerodrome is a "MetaDEX" that combines elements of various DEX primitives such as Uniswap V2 and V3, Curve, Convex, and Votium. Since its launch on Base, it has become the largest protocol by TVL with more than $495M in value locked, doubling Uniswap's Base deployment.


PayPal has unequivocally made a name for itself as a crypto adopter among fintech giants


Also, a look into how the highly-debated SAB 121 could end up shaking out for crypto custodians


Vance, an Ohio Republican, is largely seen as crypto-friendly


Plus, all the world is green as prices across the crypto space rally, with solana reaching a nearly two-week high


Investors add to crypto positions after “turnaround in sentiment due to lower-than-expected CPI,” CoinShares research head says


Plus, Ethereum is in the midst of a vibecession