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The United States Federal Reserve Board has included data on cryptocurrencies in its new report on the economic well-being of American households in 2021.<\/strong> The Fed’s ninth annual report examined the results of the survey of 11,000 people between October and November 2021.<\/p>\n The report indicates that financial well-being is the highest since these reports began, with 78% of American adults “doing well or living comfortably financially.”<\/strong> This represents an increase of 3% in the last three years. As a diagnostic of financial fitness, the report cites 68% of Americans who say they could cover a $400 emergency expense with just cash or its equivalent.<\/p>\n The report looked at the use of cryptocurrencies for the first time. It found that 12% of US adults owned or used cryptocurrency in 2020, with 11% as an investment, 2% using it for purchases or payments, and 1% sending it to friends or family.<\/strong> Investors who owned crypto “were disproportionately high-income, almost always had a traditional banking relationship, and typically had other retirement savings.” 46% had annual income of USD 100,000 or more and 89% of those who were not retired had savings for it. 29% had income less than USD 50,000.<\/strong><\/p>\n The profile of the typical user who transacts with cryptocurrencies differs markedly from that of investors. The report stated that nearly 60% of these users had incomes below $50,000, and 20% had incomes below $25,000. Only 24% had income greater than USD 100,000. 13% did not have a bank account.<\/strong> This compares to 6% of adult Americans who lack bank accounts. 27% of those using cryptocurrencies to transact did not have credit cards, compared to 17% of the total population.<\/strong><\/p>\n Those who used cryptocurrencies to transact faced other disadvantages as well. According to the report’s results, nearly a quarter did not have a high school diploma.<\/strong><\/p>\n Clarification:<\/span> The information and\/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.<\/span><\/p>\n Keep reading:<\/strong><\/span><\/p>\n<\/div>\n Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The United States Federal Reserve Board has included data on cryptocurrencies in its new report on the economic well-being of American households in 2021. The Fed’s ninth annual report examined the results of the survey of 11,000 people between October and November 2021. The report indicates that financial well-being is the highest since these reports<\/p>\n","protected":false},"author":63,"featured_media":340477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3394],"tags":[4963,4391,27974,9032,11940,5753,4499,27973],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvN2UwNTAxZmItNDRhYy00ZjYxLTlmM2UtYjI1ODU2YTYzNTMwLmpwZw==.jpg","_links":{"self":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts\/340476"}],"collection":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/comments?post=340476"}],"version-history":[{"count":0,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts\/340476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/media\/340477"}],"wp:attachment":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/media?parent=340476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/categories?post=340476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/tags?post=340476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}