Lack of knowledge is main barrier to crypto adoption, new survey says

Lack of knowledge is main barrier to crypto adoption, new survey says

Amongst the numerous problems affiliated with cryptocurrencies like Bitcoin (BTC), a absence of awareness and comprehending of crypto is the greatest impediment for wider adoption, according to a new study.

The Economist Intelligence Unit, the exploration and analysis division of the Economist Team, launched a new report referred to as “Digimentality 2021.”

The examine was commissioned by significant payment and cryptocurrency system and is made up of a buyer study of 3,053 folks done from February to March 2021.

According to study final results, 51% of respondents explained a deficiency of know-how is the primary barrier to the adoption of open up-supply cryptocurrencies like Bitcoin and Ether (ETH), although 34% of study participants cited security problems as the key obstacle, and 29% indicated difficulties in knowing where by to get crypto.


In terms of crypto acceptance by institutional investors and corporate treasuries, 47% of respondents reported that in general industry have faith in or knowledge of electronic currencies was the major adoption impediment. Some 32% of study takers cited cryptocurrency rules as a key obstacle to wider institutional acceptance, while 43% and 36% said money sector buildings and asset volatility ended up the foremost obstacle, respectively.

Supply: The Economist Intelligence Unit

The study also stated that 55% of respondents were conscious of cryptocurrencies regardless of by no means possessing or employing them. “As much more men and women undertake and have entry to digital wallets, you can just see the amount who have entry and invest in cryptocurrencies carries on to broaden,” Goldman Sachs world wide head of electronic assets Mathew McDermott explained in the report.

In accordance to a the latest survey by Gemini crypto trade, nearly two-thirds of older people in the United States are interested in understanding much more about cryptocurrencies or keeping them shortly.

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