Majority of Americans still skeptical of cryptocurrencies

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Updated April 12, 2023 | Published April 12, 2023

2 mins read

The respondents of a new survey have said that they do not feel confident in the crypto sector at all.

The majority of Americans (88%) have heard of cryptocurrencies but three-quarters of them do not trust them, according to a survey by Pew Research Center.

The study, which took place between March 13 and March 19, found the majority of US citizens mistrust cryptocurrencies in some capacity.

Asked if they would invest in the industry, 39% said that they would not. Another 36% said that they were not very confident investing in the sector, and 18% said that they were somewhat confident in the future of the sector.

Unsurprisingly, there was a generational split. Respondents aged 50 and older were more likely to doubt the sector compared to younger counterparts.

Women also tended to be more skeptical of the sector as a whole – 80% of the women who took part would not want to invest in the sector compared to 71% of men.

There were other interesting statistics to take into consideration here. For example, one-in-five people said that they were very or extremely confident that crypto is safe and reliable.

Another 2% claimed that they were “extremely” familiar with the sector but have not invested. Then again, among those who had invested, some 43% still doubted the level of security that goes into crypto projects.

Meanwhile, the rate of investment has remained intact with 17% of adults saying that they have invested, traded, or used cryptocurrencies.

This, the Pew Research Center argued, is in line with other studies it has conducted in the past. Interestingly, only 16% of respondents used cryptocurrencies for the first time during the last year. The majority did so one to five years ago.

Overall, attitudes towards crypto remain fairly unchanged, with hopefuls still investing and skeptics biding their time.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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