What Do People Buy First When They Enter Crypto?

New research shows that many people getting into crypto start with meme coins. While these coins are often dismissed as jokes, the numbers suggest they play a bigger role in onboarding new users.

Gemini’s State of Crypto report, based on a survey of over 7,000 people across the US, UK, France, Italy, Singapore, and Australia, found that meme coins are often the first step into the wider crypto world. Around 94% of meme coin holders also own other types of cryptocurrency, indicating that these coins act as a kind of entry point.

In the US, 31% of investors who now hold both meme coins and traditional crypto said that a meme coins was their first crypto purchase. Similar trends were recorded in the UK and Australia (28%), followed by Singapore (23%), Italy (22%), and France (19%).

France stands out as the country with the highest overall meme coins ownership - 67% of crypto investors there hold at least one. It’s followed by Singapore (59%), Italy (58%), the UK (57%), the US (55%), and Australia (45%).

Crypto Adoption Grows in Europe

After the 2022 market crash, crypto ownership has been steadily rising. In the UK, 24% of respondents now say they own crypto, up from 18% last year. France also saw growth - 21% in 2025, compared to 18% in 2024.

Analysts link this increase to Europe’s more supportive regulatory environment, especially with the gradual rollout of the EU’s MiCA (Markets in Crypto-Assets) framework over the past two years.

Singapore leads the surveyed countries overall, with 28% of respondents saying they own digital assets.

Trump’s Crypto Moves Shaping Public Sentiment

In the US, President Trump’s recent shift toward pro-crypto policies is also influencing opinion. After pledging to support digital assets during his campaign, Trump established a Strategic Bitcoin Reserve, restructured the SEC to favour innovation, and backed laws focused on stablecoins and crypto regulation.

He also launched his own meme coin, which reached a market cap of nearly $3 billion this month. These moves seem to be making an impact - 23% of Americans who don’t currently own crypto said the reserve made them feel more confident in the asset class.

The influence isn’t limited to the US. In the UK, 21% of non-crypto holders said Trump’s reserve increased their trust in crypto, as did 19% in Singapore.

Meme coins might look like a joke, but for many new investors, they’re the first step toward taking crypto seriously.