Research shows cryptocurrency adoption among Hispanics is high

Research shows cryptocurrency adoption among Hispanics is high

The stereotypical cryptocurrency owner is a high-earning white male. However, research finds that other demographics — particularly minorities — are also turning to bitcoin and other cryptocurrencies. A recent survey conducted by Morning Consult found that while 69% of all U.S. adults are white, only 62% of cryptocurrency owners are. Meanwhile, 24% of cryptocurrency owners are Hispanic, while just 16% of U.S. adults overall identify as Hispanic. Other minorities comprise a smaller share of crypto owners, with Blacks owning 8% and Asians and other ethnicities 6%. Crypto owners are also overwhelmingly male, with 70%, versus 30% female. “The majority of crypto owners are white, but they’re also disproportionately Hispanic,” said Charlotte Principato, financial services analyst at Morning Consult. Separate research from the Pew Research Center recently found that Asian, Black and Hispanic adults are more likely than white adults to have invested in, traded or used cryptocurrency. One explanation for the high adoption rate among Hispanics is that they are not only more likely to own cryptocurrency as an asset in their investment portfolio, but also as a means for paying for things compared to white cryptocurrency owners, Principato said. More from Personal Finance:
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