Approximately 7,000 US teens (9% of all respondents) said they had traded cryptocurrencies, Business Insider has learned, citing a recent survey from Piper Sandler.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
While there are no details on which digital assets the teens have traded, over 80% of the respondents were males. It also remains unclear whether the surveyed were actively trading or just hodling cryptocurrencies.
However, according to the survey, teens are still using cryptocurrencies mostly for spending. For example, the top spending priority is food. The survey was conducted from February 19 to March 24.
In February this year, BNY Mellon, the oldest bank in the United States, announced it will hold cryptos on behalf of its clients and allow transactions with them. The bank is working on the development of a platform that will allow transactions with cryptocurrencies in the same way as traditional assets.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.