Crypto Investors in the US are Surprisingly Clueless about Blockchain Technology, Study Shows

A survey conducted by language-learning company Preply found that about 60% of US cryptocurrency investors did not understand blockchain technology. The survey, which polled 1,001 individuals living in the US, 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.

In addition to this, the survey uncovered that 35% of crypto investors lacked confidence in their knowledge of cryptocurrency. Furthermore, 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. Overall, it seems that while many are interested in investing in cryptocurrencies like Bitcoin and Ethereum, there is still much to be learned about how these digital assets work and operate on blockchain technology.