A recent survey by the FDIC found that cryptocurrency use is more common in households that do not rely entirely on banks. Among the 60,000 households surveyed, 6.2% of underbanked households use crypto, compared to 4.8% of those with full bank access. Underbanked households have a bank account but also use financial services such as payday loans and check cashing.
About 14.2% of American households, or 19 million households, are considered underbanked. Crypto use is also more common among those with higher education, younger households, Asian and white households, and working-age households. There is an income disparity, with 7.3% of households with annual incomes of $75,000 or more using crypto, compared to only 1.1% of households with annual incomes of less than $15,000.
The majority of households using crypto as an investment hold the digital devices.
