Survey Reveals 60% of US Crypto Investors Struggle with Blockchain Basics
In a revealing survey by language-learning company Preply, about 60% of US crypto investors admitted they don’t understand blockchain technology. The survey, which involved 1,001 US residents, shed light on the knowledge, interest, and experience levels of cryptocurrency investors, uncovering a significant knowledge gap in blockchain, the core technology behind cryptocurrencies.
Knowledge Gap Among Crypto Investors
Imagine diving into a pool without knowing how to swim—that’s the reality for many crypto investors. According to Preply’s findings, three in five investors are unclear about blockchain, the distributed database or ledger that underpins the entire cryptocurrency ecosystem. This lack of understanding isn’t confined to blockchain alone. The survey also revealed that 35% of respondents lacked confidence in their overall crypto knowledge.
The Crypto Curiosity and Search Trends
Are we more intrigued by acronyms than full phrases? It appears so. Preply’s survey also analyzed Google search volumes for 29 crypto-related terms over the past year across all 50 states and 181 of the largest US cities. The most searched terms included DAO (Decentralized Autonomous Organization), DEX (Decentralized Exchange), and ICO (Initial Coin Offering). These findings suggest a stronger curiosity for crypto abbreviations and acronyms than for their expanded forms.
Interestingly, Florida, Washington, and California topped the list of states with the highest search volumes for cryptocurrency terms. This trend reflects a growing interest in the crypto lexicon, even if the understanding of the underlying technology remains hazy.
For those who haven’t yet invested in crypto, the curiosity is palpable. Among these non-investors, 54% expressed a desire to learn more about cryptocurrencies, indicating a potential for increased engagement and education in the near future.
In a world where understanding is key to making informed investments, these findings highlight a crucial need for better education on blockchain and cryptocurrency. As the crypto landscape continues to evolve, bridging this knowledge gap will be essential for both new and seasoned investors.
