U.S. crypto use rises to about 10% in 2025, Fed reports

The Federal Reserve reported that roughly 10% of U.S. adults used cryptocurrency for any reason in 2025, the highest share since 2022 but lower than the 12% who reported crypto use in 2021.

The Fed’s annual report shows about 9% of adults used crypto as an investment, about 2% used it to make payments, and about 1% used it to send money to family or friends.

Approximately 6% of Americans were unbanked in 2025. Among unbanked respondents, 6% reported using crypto for transactions, compared with 2% of adults who have bank accounts.

More than a quarter of people who used crypto for payments said the business they dealt with preferred to be paid in cryptocurrency, citing speed, privacy and lower costs. Fewer than 10% of businesses reported preferring crypto payments because they saw them as safer than banks or because of distrust of the traditional banking system.

U.S. payments firms and startups have expanded crypto payment options. Block has enabled Bitcoin and stablecoin payments for more than 800,000 U.S. merchants. Lightspark is developing tools to bring Bitcoin’s Lightning Network to more everyday transactions.

The Fed has taken a cautious stance on crypto in recent years. Jerome Powell’s term as chair ended Friday. The Senate confirmed Kevin Warsh as the new Federal Reserve chair on Wednesday. Warsh served as a Fed governor from 2006 to 2011 and has previously described Bitcoin as capable of providing market discipline and compared it to gold for some younger investors. He is known for hawkish views on monetary policy, emphasizing lower inflation and fiscal restraint.

The report tracks these crypto trends alongside broader measures of income, savings and payment preferences.