US independent investment banking and finance firm Piper Sandler has released its latest study, Taking Stock With Teens, which shows that 9% of American teens trade in cryptocurrencies. 7,000 teens were surveyed, and about 81% of those who traded in digital currencies were male.
9% of teens in the US say they own tradable crypto assets, but cash is still king among teens in the US
Piper Sandler has released a new study of 7,000 American teens.
When it comes to payments, cash is (still) king among teens, the findings show, followed by Apple Pay and Venmo. Purchases of food, video games, and clothing are very important to American teens, and 9% of the public exchanges digital currency.
Piper Sandler’s survey found that only 19% of respondents who traded in cryptocurrencies were women. The vast majority, 81%, of young people who traded cryptocurrencies were male. The Piper-Sandler study is part of a six-month research project involving more than 201,800 adolescents since 2001.
The survey covered a subset of high schools and the average age of respondents was 16 years.
Of the 7,000 American youth who participated in this particular study, the average age was 16.1 years. The financial services company says it uses data from a subset of high schools in different geographic areas of the United States.
The Piper Sandler survey found that 46% of teens think the economy is getting worse, compared to 48% in the fall; 25% of teens think it’s getting better.
A recent study in the UK found that young people between the ages of 18 and 45 are more interested in crypto assets than people older than that age group. Chart for the report ‘State of Cryptography in the UK 2021’.
The results for independent investment banks are similar to those of many past surveys. Many surveys show that cryptocurrencies and bitcoin are more popular among young people. A recent study by Gemini, published earlier this year, presents the results of 2,000 participants living in the UK.
A special section shows that interest in digital assets is high among 18- to 44-year-olds. After that, each age begins to decline relative to those surveyed in the UK Gemini survey.
Piper Sandler’s research does not provide further details, other than to say that these teens traded in crypto assets at least once. In addition to the 9% of those who exchange digital currency, 9% of their wallet goes towards purchasing video games or game consoles.
According to Piper Sandler’s findings, Amazon currently ranks first in online shopping by American teens.
What do you think of Piper Sandler’s survey and the fact that 9% of respondents say they have traded in crypto assets? Let us know what you think in the comments below.
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