9% of US teens say they have traded cryptocurrencies - and 81% of those are male, a Piper Sandler survey finds


GettyImages 1169764411 A growing number of institutions are warming to bitcoin.

NurPhoto/Getty Images

A small fraction of US teens have traded cryptocurrencies, according to a new survey from Piper Sandler.

In a recent study of 7,000 US teens, 9% claimed they had traded cryptocurrencies, while 81% of those surveyed were males. There was no further detail on which cryptocurrencies the teens have invested in, or whether teens were actively buying and selling crypto or simply holding.

Although the bitcoin's massive rally has spurred more retail interest into cryptocurrencies, teens are still putting their money to work elsewhere. According to the survey, teens' top spending priority is food, while the top payment method for teens was cash, followed by Apple Pay.

While there are no official age requirements to buy cryptocurrencies, most popular crypto exchanges including Coinbase, Binance, Gemini, and Kraken require investors to be 18 or older to open an account, which could be a barrier to further participation.

The survey results were from the latest Piper Sandler "Taking Stock With Teens" study, a semi-annual project that surveys teens with an average age of 16.1, with representation from 47 states. It was conducted from February 19 to March 24.

Read the original article on Business Insider

[Author: [email protected] (Emily Graffeo)]


Tags: Apple, US, Trends, Markets, Crypto, Coinbase, Kraken, Piper Sandler, Emily Graffeo, Cryptocurrency Analysis, MI Exclusive, Bitcoin Retail Activity, Bitcoin Teen, Teen Cryptocurrency Investing, How To Buy Bitcoin

Source:  http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/51VuqY2PdT8/bitcoin-piper-sandler-teen-survey-cryptocurrency-investing-young-retail-btc-2021-4



Related:
April 7, 2021 at 2:36 PM Participation in the bitcoin market grew 12% in the 1st quarter, the 3rd-highest quarterly jump ever, according to CoinDesk
March 29, 2021 at 1:47 PM 3 crypto-market trends to look out for this year, according to PwC
March 22, 2021 at 2:31 PM 8 reasons why fears of a stock-market bubble are overblown, according to Goldman Sachs
March 15, 2021 at 5:27 AM Global stocks inch up on Biden's vast stimulus program, while bitcoin retreats from its record high above $61,000