Almost half of Americans who have invested in cryptocurrency say it’s done worse that they expected, according to research published by Pew Research Center.

Cryptocurrency market turmoil has diminished many of the investments. Just 15% say their investments have done better than expected and 31% say that it has been about what they expected.

Around 16% of US adults have invested in, traded and used cryptocurrency. The survey, which was conducted July 5-17, also notes that the overall share of US adults purchasing crypto hasn’t changed since September 2021, despite heightened media coverage.

Those who do invest say they want a different way to invest (78%), they think it is a good way to make money (75%) or it is easier to get into than other ways to invest (54%). Almost four in 10 are more confident in cryptocurrencies than other investments, and a third cite being part of a community as at least a minor reason for investing.

A previous survey by the center in 2021 found that four in 10 men age 18-29 had used crypto, compared with 17% of women in the same age range.

It also found differences across ethnicities. About one in five Black, Hispanic or Asian Americans have invested, traded or used cryptocurrency, compared with 13% of white Americans.

Image credits: PEW Research Center