Why only 6.2 percent of American citizens own Bitcoin?

[Bitcoinislife09]

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.

I guess it was already a lot of people but comparing it to a number of Americans that is only a small percentage. I've seen a lot of people overseas that own a bitcoin. I think if we are going to get the percentage of American that know bitcoin we could easily get a high percentage in the Americans but surely there is only a small percentage that own bitcoin since a lot of people is not going to put money in the line or in the risk in cryptocurrency.

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[Spaffin]

The fact is that a very narrow circle of people are interested in cryptocurrency, and in addition to the information space, negative information and statements of various kinds of officials about problems in the cryptocurrency market and about the big risks of investing in cryptocurrency are constantly heard.  Based on this, most people are negative about cryptocurrency, and a significant part do not even want to study or verify this kind of information about the degree of benefit of the cryptocurrency business.  I believe that the whole problem is the low popularity of cryptocurrency and the huge impact of the situation with the fall of the cryptocurrency market in 2017 on public opinion.

[Zemomtum]

One of the reason might be they have a good economy that makes them not too bothered about any new digital currency. Most countries that are adopting cryptocurrency have been affected by high inflation and they are using it as a save heaven.

[X-ray]

One of the reason might be they have a good economy that makes them not too bothered about any new digital currency. Most countries that are adopting cryptocurrency have been affected by high inflation and they are using it as a save heaven.

Quite the opposite in my opinion, country with good economy usually makes their citizens have a chance into investing some portion of their earning to invest in stock or crypto unlike a relatively backward economy. The fact that so small minority of american own bitcoin is probably due to being ignorant with the existence of bitcoin although I agree that people from US could easily overlook bitcoin.

[Aurora Castro]

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/

Not the entire population could be in the world of cryptos, because there are very few people who decide to risk something totally different. They prefer to continue in their comfort zone, with a minimum, but safe salary. And for that, they fear this world. I remember that when they first spoke to me about cryptos, it was a bit complicated for my understanding, and especially for believing. But I was tired of following the same system, I was exploited in my work and what I earned was enough for what was necessary and that's why I decided to know all this more thoroughly. to have different results you have to do different things.

[iamsheikhadil]

I think it's because of the super strict laws of the US against crypto and Bitcoin in general. It's quite sad to know how the citizens of them are losing so much of potential and blockchain would have brought much transparency which I don't think the US agencies like

[Reatim]

it is not important on how much percent is having bitcoin since for 10 years of operation?that margin is good enough to say that we are really in progress.

for me what is important is How many People have already knowledge about Bitcoin and crypto currency?because this is what we need to develop more.

these people are just waiting for them to be encourage more before investing and trusting cypto so if we are really concern about our market and community here?we must help to spread the usage and advantage of this currencies and we will see in future the more users and holders of this.

[EdvinZ]

I think that mostly Americans use Bitcoin as an investment asset, not as a means for everyday payments. The Bitcoin exchange rate is very unstable, so it is logical that people prefer to pay for goods and services with traditional money, the rate of which is stable.

[Aying]

It is not that big problem if it is only 6.2 percent of american's use bitcoin or crypto, a lot of american's struggle of using it and some of them making a way to less the taxation and spread crypto to their country, so in time will come the price will be higher and the popularity will spread. so what do you think OP is there a problem when this happens?

[Devawnm367]

I think maybe throughout the world 6.2% but other then my family and friends here in the United States I introduced bitcoin to noone I know invests in BTC.

Hell most friends I have talked about btc with have all said they would like to physically hold their money. Most people i know believe it is a scam!!! In my eyes its no diffrent from credit cards or debit cards. I personally just like BTC more!

[akirasendo17]

I think a lot of people own bitcoin in america before 2017, i have heard news some use it to pay ice cream and some who accept it in their place but since 2017, i think they sold their bitcoins
during bullrun year since they need money, maybe they think they needed the money in their daily lives , at the same time as we know china has the most miners in the world so probably
thats the other reasons,

[drlukacs]

This is completely normal because Americans are restricting their services too much to the crypto market. You can see a lot of exchanges have banned Americans from using, mostly Chinese exchanges. Americans seem to only use Coinbase as the main and a few other small exchanges. That's why few Americans own Bitcoin and most are Chinese and Russians. The government in China doesn't work hard for crypto businesses, so they have a good foundation to grow.

[red4slash]

This is completely normal because Americans are restricting their services too much to the crypto market. You can see a lot of exchanges have banned Americans from using, mostly Chinese exchanges. Americans seem to only use Coinbase as the main and a few other small exchanges. That's why few Americans own Bitcoin and most are Chinese and Russians. The government in China doesn't work hard for crypto businesses, so they have a good foundation to grow.

in that large amount is actually quite good in the data and that too we have to look at the population there as well, because in my area not much is known with certainty crypto user data. I think the development of crypto is still quite young, by getting that many users in America I think it's normal and it's good enough. Yes, it is important that user growth continues to increase over time.

[aamirsuh]

Bitcoin is becoming more and more common. But there are a lot of people who don't know Bitcoin. It's unreasonable to think that all of these people would buy bitcoins. I don't think that's gonna happen. However, more investors can enter the market than today's investors.

[msarro]

In my view 6.2 is not a bad percentage. There are countries where less than 1% people even know bitcoin and other cryptos. Reason for low ownership and awareness regarding bitcoin is because not everyone can understand this new technology easily.

[Leviathan.007]

That's clear
Because bitcoin is banned in America and known for dark stuff

[bettercrypto]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

Agree!
One reason also is the trust that crypto and bitcoin built from them. I think many Americans are also scammed and they think generally that all cryptos are bad even in bitcoin. But I think almost all Americans are aware of bitcoin price and they know that it is really high. And mostly americans are rich. That's why they are in first world country.

[secone]

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 can't guarantee the data research from tronweekly is trusted
i get another research result 81% of Americans are familiar with at least one type of cryptocurrency, i think arround 30%+ people in american own bitcoin
source : https://today.yougov.com/topics/finance/articles-reports/2019/09/24/cryptocurrency-bitcoin-americans-millennials-poll

and another trusted research from coinbase and coindesk
Currently, 58 percent of Americans say they’ve heard of Bitcoin.
https://blog.coinbase.com/the-united-states-of-crypto-55282c97855c

Survey: Nearly 80% of Americans Have Heard of Bitcoin (2018)
https://www.coindesk.com/survey-nearly-80-of-americans-have-heard-of-bitcoin

[veleten]

I would not trust such a poll since it is most likely to be very skewed and not representative enough
there were polls that quoted 14% , 12% and so on , they do it this way - poll a number of people , say 1000 and extrapolate it on the whole populace
they simply cannot afford or have enough manpower to question millions of people , so they are trying to show their polls as a good representation of every class, gender , occupation etc.
and if you asked 10 doctors , 10 cab drivers , 10 engineers and so on , doesn't mean that the next 1000 of them will posses bitcoins ( or not)
6.2% figure is rather huge , I don't understand why ONLy , it is , probably , 3-4 times lower than that
6% is roughly 20+ million of people who own bitcoin , you seriously think that this is right?
I'd estimate it as 3-4 million at most  , but again , I'm speculating but my guess is the same educated guess as the polling agencies do , I asked a dozen of my  friends from  the US and only one of them owned bitcoins , so go figure

[shield132]

At first I want to say that we don't depend on America to see the adoption of bitcoin, no, it will be their problem if they don't take care of it. According to survey published by Spencer Bogart, 11% of Americans own bitcoin. It's not small number and we have to consider that bitcoin is 11 years old currency, for this period of time it's even highly adopted.
When we talk around that numbers, we don't have to forget that quality over quantity matters and this, another fact that's sad in reality: In 2007 the richest 1% of the American population owned 35% of the country's total wealth. <-- This need to be fixed, not number of Americans who own bitcoin as for now.