3.6M Americans To Use Crypto To Make Purchases In 2022 – Insider Intelligence

The number of adults in the United States expected to use crypto to make various purchases in 2022 will increase to around 3.6 million, based on research conducted by Insider Intelligence.

A report published by the research firm indicates that cryptocurrency’s value as a method of payment will surge by 70% in 2022. The company forecasts that by the end of this year, 3.6 million US adults will have used crypto to make purchases in different places.

Based on the explanation by the firm’s principal analyst David Morris, the volatility that dominates the crypto market is being mitigated by the growth of stablecoin usage. As central bank digital currencies are being developed, a lot of focus will come to the cryptocurrency world making digital tokens a means of payment.

“We also expect that more cryptocurrency options will be layered into how people pay, like cards and digital wallets. These factors should spur high crypto payment growth rates over the next few years.”

Crypto Adoption Increasing In The US

The company also projects that by the end of this year, American adults who are crypto users will increase to 33.7 million. In 2023, the firm expects that this number will grow even further to 37.2 million. These numbers are considerably lower than past claims of crypto ownership in the United States reaching 46 million in 2021.

The annual increase in cryptocurrency ownership among US adults is catching steam.

In the meantime, a survey done by the Gemini exchange indicated that new crypto investors almost doubled in Brazil, India, and Hong Kong in 2021. Over 50% of the survey participants within these nations stated that they began investing in cryptocurrency last year.

A poll done by Arcane Research and Ernst & Young discovered that cryptocurrency ownership among Norwegian women also doubled, rising from 3% in 2021 to 6% in 2022. But on the other hand, the study also showed that male ownership, also increased from 6% in 2019 to 14% in 2022.