Over 60% of people do not understand crypto, a global study shows
More and more individuals are interested in investing in the cryptocurrency and blockchain space, despite their lack of familiarity with digital assets.
Interestingly, 57% of people said they were aware of cryptocurrency, making it the second most popular type of investment after stocks, according to the findings of a recent survey conducted by the consumer insights provider. Toluna who shared the statistics with Finbold on 11 October.
Despite widespread awareness, 60% of respondents said they did not understand cryptocurrencies according to responses from 10,500 people between the ages of 18 and 64 from four regions and 19 markets.
Nevertheless, 42% of individuals who invest in the cryptocurrency market intend to increase the proportion of their assets that they hold in crypto in the next six months. Despite the continuous volatility of the cryptocurrency market, a total of 81% of respondents intend, over the next six months, to either keep the same amount of their assets invested in cryptocurrency or to increase that percentage.
32% do not understand crypto well enough
People who have not invested in cryptocurrencies say they do not understand it well enough (32%) and that it is not secure enough (28%).
Almost half of global respondents (42%) said crypto is a risky investment, despite the lure of potential short- and long-term gains.
Emerging markets more optimistic about crypto
Compared to respondents in developed markets, people in emerging markets continue to have more optimistic feelings about cryptocurrencies. On the other hand, the opinions of crypto are more skeptical in developed countries.
People choose to invest in cryptocurrency for a variety of reasons, including the possibility of long-term steady growth (36%), short-term rapid growth (35%), diversification (30%), use as a payment method for online transactions (25%), to escape government regulation control (11%), to protect against conventional asset collapses (16%) and the general fear of missing out (15%)
The general attitude towards cryptocurrencies remains optimistic and there are a large number of potential investors who are interested in making the transition to cryptocurrencies; this is especially true in developing markets in Asia and Latin America.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
