The Coinbase and Morning Consult “Cryptocurrency Perception Study” of American adults reveals they want the financial system to be updated. The February 10-14, 2023, national survey included 2,202 “general population respondents.”

Sharing the survey details, Coinbase tweeted:

https://twitter.com/coinbase/status/1630183751530557440

Commissioned by Coinbase and performed by Morning Consult, the survey indicates that the

vast majority of Americans want to see the financial system updated and they believe crypto can be a powerful part of the solution.

Per the survey, “80% of Americans think the global financial system unfairly favors powerful interests.” It states 67% of Americans “agree” for a complete overhaul of the financial system. 

Cryptocurrencies are owned by 20% of Americans (over 50 million people). Regardless of the 2022 shocks, crypto ownership is unaffected since early 2022. The survey finds cryptocurrency “ownership is higher with people of color and younger Americans.”

Per the survey, cryptocurrency is owned by Republicans (18%), Democrats (22%), and Independents (22%). It means in the U.S., “crypto is a rare bipartisan issue.” 76% of cryptocurrency owners “agree that cryptocurrency and blockchain are the future.”

Irrespective of cryptocurrency ownership, the majority of Gen Z adults (54%) and Millennials (55%) agree that cryptocurrency and blockchain are the future.

The “data were weighted to be representative of U.S. adults based on age, race/ethnicity, gender, educational attainment, and region.” The national survey’s “margin of error” is “plus or minus 2%.” The oversample was of “n=500 current U.S. cryptocurrency investors,” whereas the results carried a “margin of error of plus or minus 4%.”

In its efforts to partner with policymakers and traditional finance, Coinbase is reportedly launching an “integrated public education campaign” to explain the consumer challenges pertaining to “the role that crypto can play in a broader effort to update the system.”