Survey shows almost 2 out of 3 people do not understand crypto – TechStory
A recent global crypto survey by consumer insights provider Toluna shows that 2 out of 3 people do not understand cryptocurrencies. However, the awareness regarding the subject has grown a lot in the past 2 years, and they are still interested in investing in digital assets despite their lack of knowledge. Around 57% of the survey participants said that they know about cryptocurrencies making it the 2nd most well-known asset after stocks.
Crypto survey insights
Cryptocurrencies are quite a complicated subject, and around 6,300 (60%) people of the 10,500 participants did not have a clear understanding of them. The participants were from 19 different markets and 4 different regions. The survey also shows that around 42% of investors plan to increase their crypto holdings in the next 6 months. At the same time, around 81% of the participants also intend to keep their holdings as is if they do not buy more in the next 6 months.
There is also the idea that cryptocurrencies aren’t secure, and 28% of respondents believe the same. In addition, around 42% of the participants believe that crypto is a very risky investment despite the potential for long and short-term gains.
Emerging markets are positive about crypto
After so many surveys, it has become clear that cryptocurrencies have seen more adoption and are viewed more positively among the residents of developing nations and economies. They do not have the luxury of a stable currency or government, which makes Bitcoin the perfect investment asset. Some of the reasons why people choose to invest in crypto are the long-term growth prospect, fast short-term growth, diversification of portfolio, online method for transactions, and not staying in government control.
Many might think that cryptocurrencies are so volatile, so how can they serve as a payment method? That is true to an extent, but if you think about it, there are countries like Venezuela whose currency lost more than half of its value in a week and continues to depreciate. People have to carry cash in carts to buy items of daily necessities. The citizens of these countries are the first ones to adopt crypto and be optimistic about its future.
What are your thoughts, as the survey shows that almost 2 out of 3 people do not understand crypto? And do you think that the reasoning why developing economies are positive about crypto is correct? Let us know in the comment below. And, if you found our content informative, share it with your family and friends.
Read More: Survey shows almost 2 out of 3 people do not understand crypto – TechStory
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