According to a survey conducted by Preply, about 60% of US cryptocurrency investors admitted to not fully understanding blockchain technology. This distributed database or ledger shared among a computer network’s nodes seemed confusing to three out of five respondents. Furthermore, the survey found that 35% of crypto investors lacked confidence in their knowledge of cryptocurrency.
In addition to assessing investors’ knowledge levels, the survey 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 revealed 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 some investors’ lack of understanding, there is still a growing curiosity and interest in learning more about cryptocurrency.
