Have cryptocurrencies gained mass market trust in the U.S.?

Cryptocurrencies were born out of a crisis of confidence. In the aftermath of the 2008 financial crash, Bitcoin and its peers emerged as an alternative to traditional banking systems that many felt had failed them.

Fast forward to today, and top cryptocurrencies like Bitcoin have stayed the course. They have delivered exceptional returns over the past decade or so, in spite of extreme volatility overall.

Does that mean cryptocurrencies have earned the trust of Americans? And is that trust higher among those who are inherently skeptical of banks and credit unions? Recent data from YouGov’s audience intelligence tool, YouGov Profiles, suggests the answer is no.

Do Americans trust banks in general?

More than a quarter of U.S. adults (27%) indicate that they do not trust banks and credit unions. This includes 9% who strongly disagree with the idea that these institutions are trustworthy. This is a sizeable segment that, in theory, should be more open to decentralized financial alternatives. But when it comes to crypto, skepticism appears to run deeper.

Across all U.S. adults, 63% agree that “cryptocurrencies are not to be trusted,” with 32% saying they definitely agree. Among those who trust banks, the figure is nearly identical, and among bank skeptics, sentiment is no more favorable. In fact, 35% of bank skeptics say they definitely distrust cryptocurrencies, slightly higher than the national average. Even among those who neither trust nor distrust banks, hesitation dominates, with a large proportion sitting on the fence but few expressing strong confidence in crypto.

This means that lack of trust in traditional financial institutions does not automatically translate into trust in alternatives. Instead, it appears that skepticism toward financial systems extends across both centralized and decentralized models.

What percentage of Americans think cryptocurrencies are the future of online transactions?

The same dynamic is visible when looking at perceptions of crypto’s future role. Just 5% of Americans definitely agree that cryptocurrencies are the future of online financial transactions, while 28% definitely disagree. Again, attitudes are broadly consistent regardless of how people feel about banks. Bank skeptics are no more likely than bank trusters to see crypto as the next evolution of finance. The data suggests a shared uncertainty about where cryptocurrencies fit in the long term.

How many Americans say they own cryptocurrencies?

Of course, attitudes don’t always map neatly onto behavior. But even here, the story remains largely consistent. Only 7% of both bank skeptics and bank trusters say they currently own cryptocurrencies. This parity is notable because it stands in contrast to other financial products, where bank skeptics typically under-index. For example, they are less likely to hold stocks or maintain savings accounts compared to those who trust banks.

Looking ahead, cryptocurrency is one of the few areas where bank skeptics show slightly higher intent, with 7% saying they are considering investing in the next 12 months, compared to 5% of bank trusters. However, given the small absolute percentages, not much can be read into these figures.

Taken together, the findings suggest that cryptocurrencies have yet to establish themselves as a trusted alternative even among audiences who question traditional banking. The broader issue within this group may not be about choosing between banks and crypto, but about a more general caution toward financial systems as a whole.

Methodology: YouGov Profiles is based on continuously collected data through rolling surveys, rather than a single limited questionnaire. The figures used in this analysis are drawn from responses collected between March 2025 and March 2026. Data is nationally representative of adults (18+) in the U.S. and weighted by age, gender, education, region, and race.