Americans Prefer Banks Over Crypto For Financial Access: Survey

(MENAFN- Yolo Wire) Despite growing use and adoption, Americans still overwhelmingly prefer banks to cryptocurrencies when it comes to financial access, according to the findings of a new survey.

Consumers surveyed by research firm Public Opinion Strategies found that the public still hasn't been sold on crypto's use case and favors the traditional financial system.

When asked which they trusted more between banks and crypto when it came to financial inclusion, 65% of respondents to an online survey said banks and only 5% favored crypto.

The poll also found that more than half (52%) of consumers agree that the crypto movement is more than a passing fad.

Still, 60% of survey respondents said they think cryptocurrencies will be a mostly negative force in the U.S. economy.

The poll surveyed 1,000 randomly selected U.S. voters. It is meant to provide a snapshot of public sentiment towards digital assets in the lead-up to the congressional midterm elections.

In the end, the survey found that a majority of people still feel that banks are safer than cryptocurrencies when it comes to their money and finances.

About 46% of people said they don't have anything to do with crypto and don't want to, although that leaves 27% of people who haven't yet invested in it and say they might be open to it.

Cryptocurrencies are expected to be an issue in the midterm elections this autumn, with many crypto firms funneling millions of dollars in campaign contributions to pro-crypto candidates.

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