Study: BTC Is the Most Popular Crypto Asset, Crypto Exchanges Among the Least Trusted Service Providers

The data from the latest Coinover study suggests that 17% of the participants own cryptocurrency and 30% plan to do so in the coming year. About 50% of those interviewed said they were positive about their financial earnings, while 20% expressed dissatisfaction with the returns.

More Than Half of the Respondents Are Crypto-Curious

According to a survey study conducted by the blockchain security firm Coinover, about 17% of the more than 16,000 study participants said they own cryptocurrencies, while at least 30% said they are likely to invest in cryptocurrencies in the next 12 months. The data also suggest that the majority of the respondents, 46%, see bitcoin as the most popular crypto asset. Non-fungible tokens (NFTs) are ranked second with 18%, while ethereum is a distant third with 17%.

When asked about their attitude and curiosity towards cryptocurrencies, the study data suggests that as much as 55% of the respondents are crypto-curious. Only 11% said they are active in the cryptocurrency market. Meanwhile, 50% of those interviewed said they were positive about their financial earnings but 20% were dissatisfied with the returns.

Remarking on the study findings, David Janczewski, CEO and co-founder at Coincover, said:

“Crypto’s potential is huge, but our research makes clear that the industry must take steps to address consumer concerns. Many still perceive cryptocurrency as a mysterious technology and the industry must show that it is doing everything it can to protect investors, build consumer confidence, and provide stronger foundations for the future.”

However, despite portraying what would appear to be a positive disposition towards crypto among the respondents, the study also found that 19% of those interviewed are cynical about crypto and another 25% “are closed to cryptocurrencies entirely.”

Turning to trust issues, the study found that as many as 30% of non-crypto users have zero trust in centralized crypto exchanges. When asked about their technology concerns, 30% of the respondents said they were worried about crypto. Concerning the respondents’ perception of crypto, the study report said that many more see crypto as an enabler of financial fraud than a privacy tool.

What are your thoughts on this study’s findings? Let us know what you think in the comments section below.

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