A new survey put out by Russian cybersecurity firm Kaspersky has found that only about one in ten people actually know how cryptocurrencies work.
Around 29 percent claim to have “some knowledge” on what they are.
The survey also points to an equally important issue: there is still a major information gap between the public and the blockchain sector. Around a fifth of people (18 percent) who bought cryptocurrencies said that they stopped dealing with them because it was “too complicated.” 31 percent said that cryptocurrencies need to be less volatile to be used as intended.
A sizeable amount of people believed cryptocurrencies to be merely a ‘fad.’ Around 35 percent of respondents held this view.
According to Vitaly Mzokov, Head of Commercialization at Kaspersky, the information gap is preventing interest in cryptocurrencies from growing. “The vulnerable nature of the technology” is holding it back, he said. “Giving your hard-earned cash to something you don’t fully understand, or trust, is a hurdle.”
Still, there’s some room for optimism. Around 20 percent of respondents who had never bought cryptocurrencies said they would like to use them in the future.
Altogether, the survey results demonstrate that the industry is still a confusing one for most of the public.
The survey points to two main issues with the cryptocurrency industry today:
- the information gap
- the lack of trust
Top crypto platforms in the US | March 2024
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Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.
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