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60% of US Citizens Confess Lack of Clarity on Blockchain: Survey

The study revealed that 60% of U.S. residents lack a clear understanding of blockchain technology. Millennials showed the most confidence in their cryptocurrency knowledge, but a significant gender gap persists, with men feeling more confident than women. Despite 46% of respondents expressing overall confidence in their crypto knowledge, 35% of crypto investors admitted to uncertainties about their understanding, particularly among Gen Z investors.

The study was conducted recently, although the exact dates were not specified in the initial information provided.

The study focused on U.S. residents, with notable mentions of specific interest in Florida, Washington, and California, and cities like Orlando, Miami, and Atlanta showing a high level of crypto-related searches.

Through surveys, Preply assessed the comprehension levels and interest in cryptocurrencies among different demographics within the U.S. The findings showed a broad interest in potentially investing in cryptocurrencies, especially among Gen Xers who are yet to invest. Additionally, the study highlighted a significant knowledge gap regarding newer concepts like NFTs and the metaverse, with only 42% of respondents feeling confident about their understanding of these topics.

This study sheds light on the varying levels of understanding and confidence across different generations and genders in the U.S. regarding blockchain and cryptocurrencies. It highlights the need for educational resources to enhance understanding as the interest in digital assets continues to grow. The low enthusiasm for investing in NFTs contrasted with a higher curiosity about the metaverse suggests differing perceptions of these digital concepts. Additionally, the discrepancy between the Fed’s Survey of Household Economics and Decision making and Coinbase’s claims about the number of Americans who own cryptocurrency underscores the fluctuating and sometimes unclear landscape of cryptocurrency usage and adoption in the U.S. This study underscores the ongoing challenges and opportunities within the blockchain and cryptocurrency sectors as they continue to evolve and impact various aspects of financial engagement and literacy.

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