Cryptocurrency Fails to Gain Traction as Everyday Money Amid AI Sector Boom

The latest survey from the Federal Reserve has shed light on the continued struggles of cryptocurrency to gain traction as a widely used form of everyday money.

According to the report, only 2% of U.S. households use cryptocurrency for payments and a mere 1% for peer transfers, while nearly 90% of users treat it mainly as an investment vehicle.

This is despite the growth and adoption of various mainstream payment systems such as FedNow, RTP, Venmo, and Zelle, which offer speed, low-cost transfers, and regulatory safeguards that consumers trust.