The popularity of cryptocurrency is never a topic of debate. The investment model soon gained attention globally making it lucrative. The volume of risks involved in cryptos was not bound to economic or social conditions. Rather cryptos posed a greater level of risks involving huge price fluctuations. Along with a lack of regulations, this made a risky investment model to deal with. Despite the growing criticism, investments in cryptos continued to grow. In late 2021, the market volume of cryptocurrency was at $3 trillion garnering a huge market capitalization. Check the link to learn everything about bitcoin revolution software: https://bitcoin-revolution.software/
Global presence of cryptocurrencies
Bitcoin became a mainstream investment token in 2009. Since then the number of investments in cryptos continued to increase. Over the years, there is also an increase in the number of crypto tokens. As we speak, there are more than 14k+ crypto tokens in the global market being traded daily. Also, cryptos have made their way to all major countries. The lack of regulation is an area of concern. However, this did not stop investors from trying their luck in crypto. Major developed and developing countries have crypto token investments to their credit. Major countries have also come up with tax regulations on crypto gains and profits. The recent one to add to this list is India, with a 30% tax rebate.
Cryptocurrency adoption in America
Like any other new development, cryptocurrency also became a hit in the US. Approximately, 30 million residents in America own crypto tokens. This makes the total crypto users close to 10% of the total population. There is a growing interest amongst Americans to buy cryptocurrencies. The majority of these users are between the age group of 18 to 44. This makes our conclusion that most crypto owners in America are tech-savvy and young.
Popular tokens owned by Americans
Now that have understood how crypto works in America, let us take a look at tokens owned.
Most of these tokens have a reason to gain popularity.
#1. Bitcoin
Without a doubt, this is a popular token amongst American investors. Studies have shown that 4 out of 5 investors own Bitcoin in America. More than 22% of adult investors own Bitcoin in their portfolio. Additionally, the US also has the largest Bitcoin mining activities across the globe.
#2. Ethereum
This is the second largest token owned by any investor in America. A long-term investment token with minimal risks making it lucrative and better returns. Ethereum is also popular for its versatility in operating. Many other crypto tokens use the Ethereum platform to run.
#3. Dogecoin
Yet another popular token in America. Thanks to Elon Musk. Yes, the token gained popularity after Musk endorsed it. The automobile giant also made its products available in exchange for the Doge tokens. Popularly known as a meme token it gained an advantage and better leverage in the market.
#4. Litecoin
This particular token gained attention for its ability to buy through PayPal. The token is also low risk making it another feature of attraction. The token also provides better and faster transactions at low costs.
Does Cryptocurrency Remain Popular in America?
This is indeed an interesting question. The year that went by did not favor cryptocurrencies. The market saw a sudden plunge in the price of tokens. Bitcoin traded at an all-time low of $15k making it affordable to many. But investors had a tough time holding their savings.
Going through a recent survey, only 8% of Americans still hold the fancy for cryptos. Now, this is a debatable survey. But the fact remains, crypto is losing its charm. The high-risk appetite is becoming pricey for investors to handle. The year also saw a decline in institution investments in cryptos.
But the good news is the regulations that were approved in 2022. The US president approved the executive committee to develop crypto regulations. This will address various issues that have been hampering the economy for a long. It will also make investors and investment agencies responsible. Various laws shall be recommended to reduce investor interests.
With the FTX exchange declaring bankruptcy and tokens wiped out, the coming year is crucial. Crypto investments need a thorough study and understanding before doing so.
You can also learn more about cryptos and their presence in America on Bitcoin smart
Related Articles
