A recent survey found that 60% of US residents have no understanding of blockchain technology.
Millennials emerged as the most confident generation regarding cryptocurrency knowledge, according to a recent survey from language learning marketplace Preply. A gender gap was also identified, with men generally feeling more confident about their crypto understanding than women.
Despite 46% of respondents expressing overall confidence, a significant portion of crypto investors themselves (35%) harbored doubts about their knowledge of cryptocurrency. This uncertainty was especially prevalent among Generation Z investors, with as many as 40% unsure of their understanding.
Looking ahead to the future, Gen Xers, who had not yet ventured into crypto investing, showed the greatest interest in potentially doing so.
Image source: Preply
Across all age groups, 40% of those not currently invested expressed an interest in crypto, and a significant 27% indicated they would like to learn more through educational resources.
Survey Shows Low Trust in NFTs, Metaverse
The research also found that there is a significant knowledge gap in this area NFTs and the metaverse. Only 42% of respondents showed confidence in their understanding, providing an excellent opportunity for educational initiatives.
This lack of knowledge could explain the low investment enthusiasm: only 11% are enthusiastic about investing money in NFTs. However, the metaverse sparked greater curiosity, with 32% showing interest in participating.
US Cities Seek Blockchain-Related Answers
Preply’s research also showed that there is a huge interest in crypto terminology in the US. Florida, Washington and California led the way when it came to state-level searches for crypto terms.
Similarly, Orlando and Miami in Florida, along with Atlanta in Georgia, emerged as the cities with the most curious residents actively seeking out crypto lingo. Interestingly enough, DAO, DEX, and ICO were the crypto-related phrases people were most likely to search for, suggesting that these terms can be particularly confusing for many.
The Fed’s annual Survey of Household Economics and Decisionmaking (SHED) shows a significant decline in US crypto use compared to previous years.
In 2023 approximately 18 million American adults reported using cryptocurrenciess, according to the research. This represents a significant decrease from 10% in 2022 and 12% in 2021. These findings contradict Coinbase’s claim that 52 million Americans own cryptocurrency.
