What voters said about their views on crypto

Nearly two-thirds of voters had a less favorable view of the crypto industry in April than a more favorable view.

A survey of 1,000 randomly selected registered voters throughout the U.S., commissioned by CoinDesk in April, asked respondents to weigh in on a range of issues, including their views on cryptocurrency. One question asked for a short response: “Why do you have a (more/less) favorable impression of cryptocurrency?”

Of the 849 people surveyed, nearly two-thirds distrusted the industry against just a third who felt more positive about it (533-316). While those aligned with Republicans were more evenly split in their sentiments, the respondents who consider themselves in the Democratic camp were more likely to be critical of crypto (233 with less favorable sentiments against 88 who liked digital assets).

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And respondents identifying themselves as independent were more likely to say they had a less favorable view than a more favorable one (88 respondents to 54).

Crypto-supportive

Those who said they had a more favorable impression of crypto offered a range of explanations for their support.

“Because crypto, specifically Bitcoin has made me lots of money and it is a coin that is transparent and safe,” one respondent, who said he was a young GOP-aligned voter who supported President Donald Trump in the 2024 presidential election.

Many supportive voters cited investment returns to explain their views. Some said they thought cryptocurrencies were a good hedge against the dollar,

Several respondents said they thought of cryptocurrencies as being a “safe way to exchange currency,” being “a more secure form of money,” or that it was a good investment.

One respondent said it was a useful inflation hedge outside the U.S.

These respondents encompassed all age groups, though generally speaking, younger voters were more likely to have a favorable view of cryptocurrency than older voters. The exception was in the 18-24 age bracket, where 20 voters said they had a favorable view of the industry and 24 said they had a less favorable view.

Older voters, in contrast, were far more likely to have an unfavorable view than a favorable one, particularly those aged 55 and up.

More skeptical

Among voters with an unfavorable view of the industry, respondents said crypto was a risky investment, insufficiently regulated, not real money or just a passing fad. Several said it was difficult to use crypto to pay for goods.