Study Reveals 35% of Crypto Investors Lack Confidence in Their Knowledge

A recent study by online learning platform Preply reveals critical insights into the US population’s familiarity with cryptocurrency, NFTs, and the metaverse.

The study identifies key states and cities leading in crypto-related searches. Florida, Washington, and California top the list, with Orlando, Miami, and Atlanta showing particularly high interest. Even cities like Birmingham, Alabama, and Laramie, Wyoming, demonstrate significant curiosity about cryptocurrency, indicating broad, nationwide interest in digital assets.

Educational Programs Key to Bridging Crypto Knowledge Gap

The findings highlight varying levels of interest and understanding across different demographics. Notably, 35% of crypto investors lack confidence in their knowledge. This lack of understanding extends to blockchain technology, with 60% of investors admitting they do not grasp its concepts.

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Confidence Levels in Crypto Knowledge Across Demographics. Source: Preply

Popular crypto slang terms such as DAO, DEX, and ICO are among the most frequently searched, reflecting a strong curiosity about these concepts. Despite growing curiosity, the study highlights a significant gap in knowledge and confidence among crypto investors.

Gen Z investors, in particular, show considerable uncertainty, with 40% not feeling confident about their crypto knowledge. Additionally, non-investors display substantial interest in learning more about crypto, especially Gen X, who are the most enthusiastic about gaining new insights.

Furthermore, the report reveals a notable connection between cryptocurrency investment and interest in NFTs and the metaverse. While only 11% are keen on investing in NFTs, 32% are curious about exploring the metaverse. Interestingly, those who have invested in crypto are more likely to delve into other digital assets like NFTs, suggesting that initial exposure to cryptocurrency can lead to broader interest in digital finance.

Millennials emerge as the most confident in their crypto understanding, with men generally feeling more assured than women. Nonetheless, the overall data suggests a strong need for improved educational resources to enhance knowledge and confidence in digital finance.

Domenic Carosa, Chairman and Co-Founder of Hivello, emphasizes the need for educational institutions and the tech industry to collaborate on creating accessible educational programs. Interactive workshops, tailored online courses, and community-based initiatives are essential. Integrating blockchain education into school curricula and offering certification programs could significantly address generational and gender disparities.

“To further incentivize learning, governments or businesses could consider airdropping blockchain-based tokens with real monetary value to citizens. This approach not only provides a financial incentive to learn but also offers practical experience with blockchain transactions, potentially accelerating widespread adoption and literacy,” Carosa told BeInCrypto.

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As digital assets continue to grow in popularity, the report shows the importance of educational initiatives to help people navigate and participate in these emerging financial spaces.

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