• Sun. Jun 23rd, 2024

DL News reports that a significant number of US crypto investors lack understanding of blockchain technology.

BySamantha Nguyen

May 26, 2024
DL News reports that a significant number of US crypto investors lack understanding of blockchain technology.

The recent survey conducted by language-learning company Preply revealed that about 60% of US cryptocurrency investors admitted to not understanding blockchain technology. This distributed database or ledger shared among a computer network’s nodes seemed unclear to three in five respondents. Additionally, the survey found that 35% of crypto investors lacked confidence in their knowledge of cryptocurrency.

In addition to understanding investors’ knowledge levels, the survey also analyzed the Google search volume of 29 crypto-related terms over the past 12 months in all 50 states and 181 of the US’s biggest cities. The top-searched terms included DAO (Decentralised Autonomous Organisation), DEX (Decentralised Exchange), and ICO (Initial Coin Offering). Interestingly, the survey found that there was a stronger curiosity about crypto acronyms and abbreviations among searches than full words and phrases.

Some states showed more interest in cryptocurrency terms than others, with Florida, Washington, and California leading the way in the number of searches related to crypto. Among respondents who had not invested in crypto, 54% expressed interest in learning more about it. This suggests that despite the lack of understanding among some investors, there is still a growing curiosity and interest in learning more about cryptocurrency.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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