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Survey Reveals Lack of Understanding in Blockchain Among Crypto Investors

About 60% of US cryptocurrency investors say they don’t understand blockchain technology, according to a recent survey conducted by language-learning company Preply.

The survey, which involved 1,001 participants living in the US, examined their knowledge, interest, and experience with cryptocurrency. It found that three in five respondent investors were unclear about the blockchain, which is a distributed database or ledger shared among a computer network’s nodes.

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The survey also discovered that 35% of crypto investors who responded were not confident in their knowledge of crypto, indicating a need for more education and awareness in the field.

Additionally, the survey analyzed the Google search volume of 29 crypto-related terms over the past 12 months in all 50 states and 181 of the US’s biggest cities. The top-searched terms included DAO (Decentralised Autonomous Organisation), DEX (Decentralised Exchange), and ICO (Initial Coin Offering).

Interestingly, there was a stronger curiosity about crypto acronyms and abbreviations than full words and phrases, suggesting a desire for quicker and easier ways to understand and engage with the crypto space.

States such as Florida, Washington, and California showed the highest interest in cryptocurrency words and phrases based on Google search data.

Among respondents who had not yet invested in crypto, 54% expressed interest in learning more about the industry, highlighting a growing curiosity and potential for increased adoption in the future.

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