Over half of the U.S. millennials own crypto

CouponFollow website released its new study called “Millennial Shopping Habits.” The study is based on a survey in which over 1,185 Americans between the ages of 29 and 44 shared their shopping habits with researchers. The report has a cryptocurrency section. For instance, it reveals that 53% of the U.S. millennials (45% of women and 66% of men) now own crypto. What are other insights?

The survey was held in February 2025. 60% of respondents were women, the rest were men. The study compares the gathered data with respective data from 2022 and 2019 to indicate trends and shifts in the shopping behavior of millennials. It’s worth noting that CouponFollow doesn’t compare the 2025 data on crypto use to any respective data from the past.

What does the report reveal?

According to “Millennial Shopping Habits: Trend Report 2025,” AI and cryptocurrencies are increasingly in use among millennials. While AI is used for assistance in online shopping, cryptocurrencies are used both as a means of payment and as a savings currency or investment. Nearly the same share of millennials are using AI for shopping (54%) and cryptocurrencies (53%).

53% of surveyed millennials own digital money, while 7% haven’t even heard about crypto. The rest (39%) are aware of the existence of cryptocurrencies but don’t own any. Over 55% of millennials below 40 are crypto owners. Only 45% of millennials between the ages of 39 and 44 own crypto, while nearly every tenth of them doesn’t know what cryptocurrency is.

Gender-wise, male millennials are generally more active in crypto. 66% of male respondents and only 45% of female respondents own crypto. 30% of men are aware of crypto but don’t own any. For women, this number is 45%. As for men and women totally unaware of cryptocurrencies, the numbers are 4% and 10% respectively.

Another interesting finding is the way millennials spend crypto. 8% of all surveyed millennials (including those who don’t own crypto or are even unaware of its existence) use crypto as a means of payment “whenever possible.” Considering that only 53% of millennials own crypto, this means that around 15% of crypto owners aged 29-44 use crypto as a payment method whenever possible. 

Around 20% of millennials owning crypto never use it for shopping (11% of all respondents). Nearly two-thirds (64%) of millennial crypto owners use crypto to pay for goods and services from time to time.

As for the purchase volume made via crypto, the study reveals that 62% of millennial crypto owners made between one and five retail purchases via crypto within 12 months. Only 4% of crypto owners made over 10 purchases with crypto last year. As the report indicates, 42% of all respondents admitted to purchasing something, paying in crypto. At the same time, one in five American millennials made over six purchases last year, indicating the growing crypto adoption rate.

Apart from crypto

Apart from findings on the way millennials interact with crypto as retail buyers, the report indicates various curious facts and statistics. For instance, it suggests that discounts starting at 20% may be a good reason for over half of millennials to change the brand. More than that, millennials increasingly (if compared to a 2022 study) prefer free shipping, free trials, and gifts as a form of discount.

Another interesting finding is that in 2025, millennials browse and buy goods in-store more often than in 2022 and 2019. However, online shopping is still leading for this generation. The use of computers for online shopping is declining. As for browsing goods on Amazon, millennials increasingly choose goods based on Amazon’s recommendations and top search results. Finally, the report reveals that women rely on TikTok more often than men while looking for shopping recommendations.

Millennials in crypto, according to other reports

So far, millennials have been the crucial generation for crypto adoption. According to a survey conducted by Bankrate back in 2021, millennials are the main driving force of crypto adoption, as they are more confident in investing in crypto than average Americans of other ages. On top of that, many cryptocurrency entrepreneurs and groundbreaking developers are coming from Gen Y. The Statista report confirms that millennials are by far the most cryptocurrency-integrated generation so far. Statista’s findings are based on the data gathered from several countries in North and South America and Europe.

A study conducted by CryptoQuant earlier in 2025 points to a different age group as the core group of crypto users and inventors. Instead of laying emphasis on millennials, CryptoQuant reveals that the core age group for crypto adoption is the people aged 25–34 years, the youngest millennials, and the oldest members of Gen Z. They make up 35% of all crypto investors and users.