If you have to guess which generation has had the most success with cryptocurrency investing, chances are you’re placing your bet on Generation Z. In April 2022, GOBankingRates surveyed 1,037 Americans aged 18 and over in the United States to find out if they invest in crypto. and if so, how much have they benefited from digital currencies.
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Survey findings showed that nearly 36% of investors between the ages of 18 and 24 and 34% of investors between the ages of 45 and 54 have earned at least $5k in cryptocurrency. Using the findings of our survey, here’s an overview of each age group that has invested in cryptocurrency and their earnings.
Ages 18 to 24
Respondents between the ages of 18 and 24 invest in cryptocurrency for the long term. Our study shows that just over 45% of respondents have been investing in crypto for one to two years. An overwhelming 75% of those surveyed invest in bitcoin, often referred to as “digital gold” in the crypto industry.
Income for this age group is also steadily increasing. While 32% of respondents report making just under $500 from crypto investments, just over 20% have made close to $5,000 in profits. Nearly 17% also report gains in the $5k to nearly $10k range.
While only time will tell how much this age group can earn from crypto investments, an increasing number of respondents are prioritizing crypto investments. 30% have been investing in crypto for six months to a year, while just over 20% of respondents have started investing in crypto in the last six months.
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Ages 25 to 34
The time respondents between the ages of 25 and 34 have invested in crypto is creeping up. 40% of respondents have been investing in crypto for one to two years, while just over 22% have been investing for two to five years.
How did that extra amount of time spent in the crypto space pay off? 20% say they have profited $500 to $1k, while another 20% have profited $1k to nearly $5k in all-time crypto investments. And just over 35% of respondents surveyed said they earn just under $500.
As these earnings gradually increase, it is interesting to note how crypto investors in this age group are diversifying their crypto investments. 80% of investors still invest in bitcoin, but nearly 48% invest in ethereum.
Ages 35 to 44
Respondents in our survey aged 35-44 benefited the least from cryptocurrency investing. Only 49% of those surveyed said they have made less than $500 in crypto investing at all times. In second place are 19% of respondents who have made almost $1k from crypto.
It’s a little hard to figure out why this age group has no crypto gains compared to other groups. Can be a gamble in investment timing. Nearly 29% of respondents aged 35 to 44 started investing in crypto within six months, compared to age groups such as 25 to 34, where only 14% started investing in crypto within six months. And only 7% of 35- to 44-year-olds have invested in crypto in the past two to five years, compared to 22% of 25- to 34-year-olds who have invested the same number of years.
Ages 45 to 54
Crypto investments make the greatest progress between the ages of 45 and 54.
While 37% of this age group have made at least $500 in crypto gains, their percentages continue to rise steadily. 12.50% have earned close to $5k in crypto investments, while another 12.50% have earned between $5k and nearly $10k in profits. And another 12.50% have made $50k or more from crypto investments – the highest earnings of all those surveyed!
Ages 55 to 64
Just over 44% of respondents in our survey aged 55-64 reported earning between $500 and $1k in crypto investments, while 22% achieved earnings of $5k. Like most age groups, bitcoin remains the most popular crypto investment at 88.89% and Ethereum at 33%. According to 50% of respondents, the main goal for crypto investments for 55-64 year olds is to diversify investment portfolios.
65 years and older
Where Do Over-65s Stand When It Comes To Investing In Cryptocurrency? Very well, as it turns out! 33% of respondents surveyed reported making less than $500 in crypto, while another 33% made nearly $10,000. 22% have always profited $5k to almost $10k while 11% have profited $10k to almost $50k in crypto investments.
As with other respondents in the age bracket, 66% of the over-65s invest in Bitcoin and 22% in Ethereum. But another 33% have classified their crypto investments under “other” and we can’t help but be curious about what these other types of crypto investments are and how much they benefit investors.
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About the author
Heather Taylor is a senior financial writer for GOBankingRates. She is also the lead writer and branded mascot enthusiast for PopIcon, Advertising Week’s blog dedicated to branded mascots. She has been published on HelloGiggles, Business Insider, The Story Exchange, Brit + Co, Thrive Global and more media.