Crypto usage in 2023 was notably higher among underbanked households, according to a recent FDIC report. The survey found that 6.2% of underbanked households turned to crypto, compared to 4.8% of fully banked households. Underbanked households, which use nonbank financial services like payday loans, made up 14.2% of US households last year.

Interestingly, crypto was more popular among higher-educated, younger, and working-age households, as well as Asian and white demographics. Income also played a role, with 7.3% of households earning $75,000 or more using crypto, versus just 1.1% of those earning under $15,000. Most used crypto as an investment, with only 4.4% using it for online purchases.