60% of people say they don’t understand cryptocurrencies: Survey

A global survey by Toluna revealed that crypto assets are the second most popular assets, after the stock market.

Crypto & blockchain technology adoption surging rapidly despite unclear regulatory policies & high volatility in the price of crypto assets. Crypto adoption is not only based on passive earning purposes but at the technical level blockchain technology is helping to improve traditional protocols.

On 11 October, A consumer insights provider Toluna published a survey, which was conducted on 10,500 people between the ages of 18 and 64 years from four regions and 19 markets.

The survey revealed that 57% of the respondents admitted that they were aware of cryptocurrencies, which makes cryptocurrencies a second-ranked money market in terms of popularity. 

This data is enough to show that crypto is successfully making a position in the world but the opposite of the majority of the people said that they are not able to understand crypto & blockchain technology perfectly. Around 60% of respondents said that they didn’t understand digital assets. 

42% of respondents, who already have Investments in cryptocurrencies, are planning to increase their investment in their existing holding assets. 

Non-crypto investors (32%) claimed that cryptocurrencies are high-risk assets and it is not secure enough. On the other hand, 42% of Investors said that investments in Cryptocurrencies are risky, despite their better ability to give profit in small & long-term investments.

El Salvador & CAR helping adoption

After the adoption of Bitcoin as a legal tender by El Salvador, other countries’ Governments & big companies started to show significant interest in Bitcoin & blockchain technology. 

Under the influence of El Salvador’s Bitcoin law, the Central African Republic (CAR) adopted Bitcoin as a legal tender this year. 

Recently Dominica also tapped the Tron crypto team to design native national digital currency. 

Read also: US Treasury office sued by Coin Center over Tornado Cash ban