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In the previous year, 5.6 million households in the United States were without access to banking services. It is within this context that the adoption of cryptocurrencies is notably high.
The Federal Deposit Insurance Corporation (FDIC) released findings from a comprehensive survey carried out in 2023. Around 60,000 households across the United States participated in the survey. Significant results indicate that 4.2% of households, equating to approximately 5.6 million, did not possess a bank or credit union account. Among these, 66.2% depended solely on cash, while the rest utilized a mix of prepaid cards and financial technology services such as PayPal, Venmo, and Cash App.
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The “underbanked” demographic, which includes households that maintain bank or credit union accounts but frequently utilize non-bank products and services to fulfill their financial requirements, is quite prevalent. This segment represented 14.2% of households in 2023, totaling around 19 million.
Cryptocurrency was utilized by 6.2% of unbanked households, in contrast to 4.8% among those with bank accounts. Among individuals who own digital assets, 92.6% regarded them as an investment, while merely 4.4% employed them for payment purposes.
As per a survey conducted last year by the Financial Industry Regulatory Authority (FINRA), more than half of U.S. citizens under the age of 18 identified cryptocurrency as their initial financial investment.
Сообщение Only 4.4% of U.S. Holders Use Crypto for Payments появились сначала на CoinsPaid Media.
