Why only 6.2 percent of American citizens own Bitcoin?

[TitanGEL]

To use bitcoin you need to be technology aware. Majority of bitcoin users are millennial and elderly people who don’t have much knowledge about technology are quite away from bitcoin. I would say 6.2% is still high; there are countries where awareness about bitcoin is less than 1%.

That's right , in my country user cryptocurrency under 1% .
almost 60% of the 1% is still a lot cheated on ponzy under the guise of cryto.

We cant really have that precise percentage on each country though and i dont know how they do able to know on such numbers.
6% is really high if we do talk on entire population and as said some countries do have even more lower.Its quite understandable though
since we are just 10 years old and counting.Adoption is still on the move and expect for these numbers to rise up.

Awareness is the main problem why there are only people who are using bitcoin nowadays. If we have better education about bitcoin, cryptocurrency and blockchain then the awareness will grow. As for my country, it is about less than 1% who are using bitcoin and for me it is very low. The government should create a regulations wherein they will create seminars and courses that can increase the awareness of the other people about bitcoin.

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[Icygreen]

Sorry, there is not 20 million people in the USA owning Bitcoin or other digital assets. A Generous estimation would be 1.1% which is 3.85 million people and even that still seems high. Perhaps even .5% could be more accurate.
Bitcoin is still seen as an ultra risky asset and largely not understood by a population who barely understand the difference between a web browser and google search.  No way does 20 million people own this yet. Perhaps not even worldwide. I could be wrong there but I don't see any evidence of that yet.

[tsaroz]

6.2% of US citizen is a huge population. Compare it with the 84% total that uses internet.
Public internet is here for 30 years while Bitcoin is here for just last 10 years. Crypto is one of the fastest growing tech of this century.
And with current rate of rise of bitcoin ownership, bitcoin would soon have a price boost that would attract even more people towards it.

[Peashooter]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

i think that is because most of the american have their own job, and they often loaded with the things that they have to do each day in which incorporating other foreign things might be so time consuming and I guess this is real for most of the people who heard about Bitcoin but until today they are still not open about embracing it since Bitcoin was too volatile at this moment and they couldn't risk their money with regards tot his which they can use on other thibgs like building up a business.

[electronicash]

digital currencies will probably expose people to cryptocurrencies because it happened in Switzerland that they were introduced to cashless technology which they pay items on stores using their mobile so they tend to open up to newer technology like crypto. Trump however isn't that open to crypto but may be the next president will be. 6.2 % only but i think this is spread out the country.  more users are probably in south America.

[qiwoman2]

It's much better than I thought to be quite frank because I thought with all the different regulations and the IRS it would put a lot of Americans off owning Bitcoin. Then again, they would want to be at the forefront of this revolution seeing that they have Silicon Valley and a lot of tech going on there. Anyway, it's not a bad amount of people owning Bitcoin and when I started out, I remember it was less than one percent. If over 20/255 start owning Bitcoin, then yes we are at mass adoption stage then. Got a long way to go though.

[redsun114]

Maybe you should make use of Gold and Silver to compare to this –Gold has been around for a very long time and same thing with Silver, but a new survey shows that only about 12% of US citizens owns gold and around 14% owns Silver. So if such percentage of the US citizens are interested in gold and silver what makes you think that more would be into Bitcoin?

Only 6.2% owns Bitcoin, that’s even more than what I have expected because bitcoin has only been around for a decade, that’s way too less compared to gold which is over 5000 years.

[Xxmodded]

Did you get correct information source about 6.2% of American citizen have own bitcoin, there are bigger population in the world are using bitcoin as currency and best way for investing in bitcoin. I look not really trusted with 6% citizen of America have adopted and used bitcoin as their way for trading or only as investment project only.

[Bim abk]

Did you get correct information source about 6.2% of American citizen have own bitcoin, there are bigger population in the world are using bitcoin as currency and best way for investing in bitcoin. I look not really trusted with 6% citizen of America have adopted and used bitcoin as their way for trading or only as investment project only.

when talking about data, we have to look at the source first, plus we don't know for sure whether people report everything or not. but actually 6% is big enough because bitcoin is still young enough for its development, and I'm sure user growth will increase every year.

[TEX-LXRY]

I would think Bitcoin adoption in developing countries would be more "necessary" as part of banking the un-banked thesis. In the West, bitcoin although very innovative can be seen as just a speculative asset. West has sound relatively sound financial  and banking infrastructure and as such, less urgency in adoption.

[Asmonist]

If that is true then its maybe about the legalities and tax issues that may possible hinders the american citizens to own bitcoin. There are maybe not yet known of owning it. We all know that the privacy of owning bitcoin and people having it may not like to be known. I think the 6.2percent are those who want to be known all others are just silent and private about it.

[seoincorporation]

6.2% sound as a small number, but when we are talking about a population of 327.2 million (2018) then 6.2% is 20286400... If each American citizen involved in bitcoin decides to buy one, then they will have all the bitcoins.

And if the percent is low is because bitcoin doesn't have the right diffusion there, sad but true...

[Murat]

If you are worried about the percentage then you have to understand that 6.2% is not a small number if it's true, for me, It's a huge number, one thing you have to consider that most of the Bitcoin user doesn't say about this system to the people because of some legal aspect, you have to take another thing that, American people don't need to get involved in this system because their currency is the strongest currency in the world, so I haven't expected such type of ratio, I think Bitcoin is much more popular outside the USA, but there is still a lot of chances to get popular in this area.

[Polar91]

If you are worried about the percentage then you have to understand that 6.2% is not a small number if it's true, for me, It's a huge number, one thing you have to consider that most of the Bitcoin user doesn't say about this system to the people because of some legal aspect, you have to take another thing that, American people don't need to get involved in this system because their currency is the strongest currency in the world, so I haven't expected such type of ratio, I think Bitcoin is much more popular outside the USA, but there is still a lot of chances to get popular in this area.

And basically, we don't really need everyone to have or own portions of bitcoin, as long as they are distributed across the nation and around the world, that will still do, because adoption in its finest will happen, if people could see bitcoin users from left side of their vicinity, to right side of their neighborhood. Indeed, will influence them to search bitcoin and to probably use it. Moreover, statistics of 6.2 percent american aren't too bad, most of the cryptocurrency channels are made by americans and they are inspiring allot of people in the world that is really making an impact to huge market adoption.

[crossabdd]

that's because countries with leaders like America haven't yet accepted bitcoin openly. in america, crypto growth is highly controlled. and has very strict rules for bitcoin holders. so, there are very few crypto holders in that country. some crypto developers in the country are out and continuing outside the US. America is still a controversy with Bitcoin. and try to defend their dollar.

[theskillzdatklls]

I'm actually surprised to know if it's that high if that's even true. I would have guessed ~2% if someone had asked me. But the answer is that it's a new technology, bad user experience, it's risky, bad consumer awareness and whole host of other reasons.

You could have asked why only 6.2% of Americans used the internet at a particular point in history and pointed to all of it's benefits for the exact same reasons. Despite the fact that it was still pretty useful during this stage.

[peter0425]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

relying on america for bitcoin to be adopted?lol is that a joke?there are many countries that welcome Bitcoin and crypto more appropriate then why just america?be realistic mate ,because world dont consist of US only there are other who will make crypto known and valued worldwide,just look and see.

[TedMosby]

Maybe because USD is more stable and still strong enough against other fiat currency.
Look at this data: https://coinspace.com/news/global/top-countries-driving-cryptocurrency-adoption-2019-report
Crypto is more popular in countries with unstable economy.

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USA - 3rd most populated country - 331,002,651
https://www.worldometers.info/world-population/population-by-country/
331,002,651 x 6.2% = 20M ++ WOW!
...
Australia population = 25M
Netherlands population = 17M

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As comparisons with gold, silver, and stock:

New Survey Reveals 12% of The American Population Owns Gold, While 14.7% Owns Silver
https://20somethingfinance.com/percent-of-americans-own-stock/

The Percent of Americans who Own Stock Hits Record Low
https://20somethingfinance.com/percent-of-americans-own-stock/

[Wipeout2097]

Here is one thing to learn only a 6.2% of Americans owning BTC,Same here around the globe under 5% people own the BTC.Now question arise why peopel are not owning BTC,there are many reason but the main reason is unawareness and the legality of BTC.

Due to legality issue people avoid to get in BTC because they face trouble in buy and sell and dont find a platform within a country that allow Buying and selling independently.

[Aikidoka]

6.2 percent is seems reasonable because currently there's not a lot of people using it because they're afraid of the risk of it, like probably they probably think that bitcoin could die and they're thinking of the negative things than the positives things about bitcoin, furthermore, they probably think that bitcoin is created only to be used in the bad things, I mean here by using it in the Darknet marketplaces to buy and sell illegal stuffs.