50% of US Cryptocurrency Investors Admit Lack of Knowledge in Blockchain Technology, According to New Survey

A recent survey by language-learning company Preply found that about 60% of US cryptocurrency investors admitted to not fully understanding blockchain technology. The survey polled 1,001 individuals living in the US and aimed to gauge their knowledge, interest, and experience with cryptocurrency.

The results revealed that three in five respondent investors were uncertain about blockchain, which is essentially a distributed database or ledger shared among a computer network’s nodes. Furthermore, the survey uncovered that 35% of crypto investors lacked confidence in their knowledge of cryptocurrency.

In addition to this, the survey analyzed the Google search volume of 29 crypto-related terms over the past year in all 50 states and 181 of the US’s largest cities. The top-searched terms included DAO (Decentralised Autonomous Organisation), DEX (Decentralised Exchange), and ICO (Initial Coin Offering). Interestingly, the survey noted a greater interest in crypto acronyms and abbreviations than full words and phrases among the searchers.

Among those who had not yet invested in cryptocurrency, 54% expressed an interest in learning more about it. The states with the most searches for cryptocurrency terms were Florida, Washington, and California.