Piper Sandler Survey Shows 9% of American Teens Have Traded Cryptocurrency

The American independent investment bank and financial services company, Piper Sandler has published its latest “Taking Stock With Teens” survey which notes that 9% of U.S. teenagers have traded cryptocurrencies. 7,000 teenagers were polled and roughly 81% of those who have traded digital currencies were male.

9% of American Teens Claim to Have Traded Crypto Assets, But Cash Is Still King Among US Teenagers

Piper Sandler Companies has published a new study that surveyed 7,000 American teenagers.

According to the findings as far as payments are concerned “cash is (still) king for teens” and this is followed by Apple Pay and Venmo. Food, video games, and clothes purchases are very important to American teens and 9% of the crowd has traded digital currencies.

Piper Sandler’s survey shows that only 19% of the respondents who have traded crypto were female. A great majority or 81% of the teen participants who have traded crypto assets were male. Piper Sandler’s survey is part of a semi-annual research project that has surveyed more than 201,800 teens since 2001.

Survey Covered a Subset of High Schools and the Average Age of Each Respondent Is 16-Years-Old

Out of the 7,000 American teens in this specific survey, the average age was 16.1 years. The financial services company says that it leverages data from a “geographically diverse subset of high schools across the U.S.”

When the respondents were asked about the economy, Piper Sandler’s study notes: “46% of teens believe the economy is getting worse vs. 48% in Fall; 25% of teens believe it is getting better.”

The independent investment bank findings are similar to a lot of surveys in the past. Many surveys show cryptocurrencies and bitcoin are favored more by younger people. A recent study from Gemini published during the beginning of the year shows findings from 2,000 U.K.-based participants.

One specific section shows that among young people interest in digital assets is high specifically between the ages of 18 and 44. Any age after that starts to see a decline as far as the respondents from Gemini’s U.K. survey is concerned.

Piper Sandler’s survey does not detail anything more than just the fact that these teens have at least at one time, have traded crypto assets. In addition to the 9% of those who have traded digital currencies, 9% of their wallet share goes to video game or console purchases as well.

The number one place for American teens to shop online in the U.S. is currently the marketplace Amazon, according to Piper Sandler’s findings.

What do you think about Piper Sandler’s survey and how 9% of respondents claim to have traded crypto assets? Let us know what you think about this subject in the comments section below.