Study: 60% of U.S. Cryptocurrency Investors Don’t Understand Blockchain

PANews reported on May 25 that according to Bitcoin.com, Preply’s latest survey showed that approximately 40% of Generation Z cryptocurrency investors in the United States lack confidence in their knowledge of cryptocurrency. This lack of confidence is even more pronounced among Millennials (35%) and Gen X (32%). The study also revealed that 60% of U.S. cryptocurrency investors “don’t know what blockchain is.” Nonetheless, data shows that 27% of people who have never invested in cryptocurrencies expressed interest in taking a course to learn more. In terms of gender distribution, 54% of the men and 53% of the women surveyed expressed interest in further study.

The study also found that different generations have very different interests in digital assets other than cryptocurrencies. For example, 12% of Millennials say they have invested in NFTs, compared to just 4% of Baby Boomers. The survey report commented that only 42% of the respondents have confidence in NFT and the Metaverse, showing the importance of popularizing relevant knowledge. This may explain why only 11% of people are excited about investing in NFTs, while a whopping 32% are curious about joining the Metaverse. However, U.S. residents who have invested in NFTs are also more inclined to invest in cryptocurrencies, which may be their first step in exploring other digital assets.