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Data for today’s episode is provided by Mercator Advisory Group’s report – 2019 U.S. PaymentsInsights – Technology and Fraud: Consumer Concern Is Real.
What Demographic Factors Drive Cryptocurrency?
- The primary drivers of cryptocurrency adoption are age, income, and education level.
- 29% of 18-34 year olds claim to be “very familiar” with cryptocurrencies.
- In contrast, 71% of 55+ year olds claim they are “not familiar at all” with cryptocurrencies.
- Overall, only 17% of consumers claim to be “very familiar” and 31% “somewhat familiar” with cryptocurrencies.
- 27% of consumers with income >$100K claim to be very familiar with cryptocurrencies, compared to 13% with income <$75K.
- 11% of consumers currently own cryptocurrencies and 9% have in the past.
- 13% of college educated consumers own cryptocurrencies, compared to 8% of non-college educated consumers.
About Report
Mercator Advisory Group’s most recent consumer survey report, Technology and Fraud: Consumer Concern Is Real, from the bi-annual North American PaymentsInsights series, takes an in-depth look at U.S. consumers’ current perspectives on technology and fraud.
This report explores how technology and fraud impact consumers lives and, in particular, the way they shop and pay for things. This includes detail on not only what they do but also how they feel about these two important consumer issues.
