While the use of cryptocurrencies continues to increase worldwide, the US is leading the way in this regard.
At this point, the US Federal Reserve (FED) revealed in its latest research that 10% of Americans will be using or investing in cryptocurrencies by 2025.
According to a new report released by the FED, one in ten American adults will have used or invested in cryptocurrency for payment purposes by 2025.
This was the highest level in the last three years.
The FED notes that the number of people investing in or using cryptocurrencies has increased compared to 2023-2024 and is approaching the all-time high of 12% recorded in 2021.
According to the report, 9% of participants used cryptocurrency for investment purposes, while 2% used it as a payment method.
Of those who use cryptocurrencies for payment, 25% stated that businesses prefer to accept cryptocurrency payments due to advantages such as speed, privacy, and lower costs.
The rate of cryptocurrency use for payment purposes was three times higher among the population without bank accounts (6%), compared to the general adult population (2%).
Less than 10% of users stated that they prefer cryptocurrency payments because they are “safer” than banks or due to distrust of the traditional banking system.
*This is not investment advice.
Continue Reading: New Report from the FED Regarding Bitcoin and Altcoins! Here Are the Details
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Author: NixCoin
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