What is the public opinion on cryptocurrency? Is crypto safe? According to a study conducted by Pew Research Center, the majority of US citizens (88%) possess fundamental knowledge about cryptocurrencies. However, only 24% consider investing, trading, or utilizing digital assets as dependable and secure.
The percentage of individuals with this belief varies among different demographic groups. Adults aged 50 and above are more likely to hold a skeptical view (85%) compared to younger individuals (66%).
Cryptocurrency Trends in America
In the same research study, 17% of the participants disclosed that they had dealt with cryptocurrencies at some point in their lives. Attitudes toward digital assets varied based on gender, age, race, ethnicity, and income level.
For example, 41% of men aged 18 to 29 reported having invested in or used digital assets. It is comparable to only 16% of women in the same age range. Additionally, minorities appeared to be more interested in digital assets. 24% of Asian respondents and 21% of Black and Hispanic respondents disclosed involvement, compared to only 14% of White adults.
Overall, the study indicated that knowledge of cryptocurrencies is relatively high, with almost 90% of participants stating that they had heard at least a little about Bitcoin and alternative coins. However, 75% expressed skepticism regarding the safety and reliability of digital assets. Only 2% of the respondents reported feeling “extremely confident” when dealing with cryptocurrencies, while 4% reported feeling “very confident.”
Interestingly, women tended to be more skeptical than men, with 80% placed in the “non-confident” category, compared to 71% of males. Notably, investors showed higher levels of trust in digital assets, with one in five reported feeling either “extremely” or “very confident.” In contrast, only 2% of those who had not invested in digital assets shared the same level of confidence.
Did Users Profit From Crypto?
According to Pew Research Center, the majority of investors (74%) started investing in cryptocurrencies one to five years ago, while only 10% jumped in prior to 2018. However, 45% of American investors have not been as successful in their cryptocurrency investments as they had hoped. Only 15% reported making better profits than anticipated. Unfortunately, 3% of investors reported experiencing significant financial losses due to their involvement in the digital asset sector, while 16% said they were impacted “a little.”
Closing Thoughts
Cryptocurrency can generate wealth. However, it is only for those who made significant preparations. Education and awareness are key to making informed investment decisions in this new and rapidly changing market.
Therefore, check out our MEXC trading page and find out what we have to offer! Do not miss out on the golden window. You can learn more about crypto industry news and interesting articles to get you up to speed with the crypto world. Happy trading!
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