Gen Z Americans Trust Crypto More Than Banks, Seeking ‘Agency and Control’
Gen Z in the U.S. shows significantly higher use and trust in cryptocurrency compared to traditional financial systems, influenced by desires for access, control, and transparency over their assets. Protocol Theory data reveals that 49% of Gen Z have used a crypto exchange, with 37% currently owning or using crypto. Many prefer both self-custody (56%) and regulated storage options (51%), highlighting flexibility rather than exclusivity. Trust in crypto is generational—22% of Gen Z and 24% of Millennials trust crypto more than banks, compared to far lower levels among Gen X (13%) and Boomers (5%). Overall, 17% of U.S. adults have engaged with crypto, but usage is concentrated among younger adults (ages 18–29 constitute 29% of users). Crypto holdings are starting to factor into mortgage qualifications, as more young buyers report significant crypto assets. There is persistent skepticism among older adults about crypto’s safety and reliability. Across generational lines, younger adults also value verifiability and personal control—drivers of crypto trust—over blind reliance on institutions or traditional regulation.
