{"id":14736,"date":"2021-11-26T21:54:04","date_gmt":"2021-11-26T21:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/2021-crypto-literacy-report-suggests-96-of-americans-fail-to-comprehend-basic-crypto-knowledge\/"},"modified":"2021-11-26T21:54:04","modified_gmt":"2021-11-26T21:54:04","slug":"2021-crypto-literacy-report-suggests-96-of-americans-fail-to-comprehend-basic-crypto-knowledge","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/2021-crypto-literacy-report-suggests-96-of-americans-fail-to-comprehend-basic-crypto-knowledge\/","title":{"rendered":"2021 Crypto Literacy Report Suggests 96% of Americans Fail to Comprehend Basic Crypto Knowledge"},"content":{"rendered":"

A recent study suggests that 99% of people from Mexico and Brazil and 96% of Americans fail to grasp the basic concepts of cryptocurrencies. Out of all the survey respondents aware of bitcoin, 17% in the U.S., 15% in Brazil, and 14% in Mexico own the crypto asset. The report published by cryptoliteracy.org further explains that 9 out of 10 survey respondents did not know that Bitcoin\u2019s supply is capped off at 21 million.<\/strong><\/p>\n

Despite the Bull Run in 2021, Study Shows Crypto Knowledge Is Lacking in the US, Mexico, Brazil<\/h2>\n

According to a study published by cryptoliteracy.org<\/a> comprehension of cryptocurrency fundamentals is low in 2021. The researchers leveraged a Yougov survey to sample roughly 1,000 participants who are aware of cryptocurrencies from each country. The study consisted of 17 questions pertaining to cryptocurrency, bitcoin, decentralized finance (defi), non-fungible tokens (NFTs), and general sentiment. One of the key findings in the survey notes that \u201cownership is the best teacher,\u201d which meant that survey participants that owned a digital currency, were twice as likely to answer the 17-question quiz correctly.<\/p>\n

The cryptoliteracy.org report explains that only 33% of the respondents thought that purchasing crypto assets was easy today. Furthermore, the survey believes \u201ccrypto is failing its mission of financial inclusion.\u201d Ownership tends to point to wealthy and highly educated users at this point in time, according to the survey\u2019s results. Additionally, older generations are \u201cleft behind,\u201d in regard to cryptocurrency comprehension, as 67% of U.S. \u2018Baby Boomers\u2019 had a \u201clack of crypto knowledge.\u201d<\/p>\n

Survey Shows Youth More Likely to Spend Cryptocurrencies, While Older Generations See Them as an Investment<\/h2>\n

Other key findings from the survey say that Mexicans and Brazilians are more likely to buy and sell crypto in the next six months. Meanwhile, use cases can vary by geography and generation, the study details.<\/p>\n

\u201c25% of Brazilians and one-third of Mexican respondents would use crypto to pay for goods and services. Just 13% of American respondents advised they would do so,\u201d the cryptoliteracy.org study highlights. The survey adds:<\/p>\n

50% of Americans advised they would utilize crypto as a way to save for the future. Younger generations are nearly three times more likely to use crypto as a means of payment than older generations who see it more as an investment.<\/p>\n

Basic bitcoin knowledge about the protocol\u2019s supply cap also lacks a great deal among the survey\u2019s participants. \u201cBitcoin\u2019s computer code-based issuance schedule is what makes it so unique and different from central banks controlled by politicians,\u201d the study\u2019s authors explain. Yet 9 out of 10 survey respondents lacked understanding of the basic concepts of bitcoin supply and demand (like the capped supply of 21 million).<\/p>\n

What do you think about the 2021 State of Crypto Literacy report? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, America, basic knowledge, basics, Bitcoin Basics, Brazil, crypto basics, crypto literacy, cryptoliteracy.org, Mexico, participants, report, respondents, study, Survey, U.S., Yougov polling<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent study suggests that 99% of people from Mexico and Brazil and 96% of Americans fail to grasp the basic concepts of cryptocurrencies. Out of all the survey respondents aware of bitcoin, 17% in the U.S., 15% in Brazil, and 14% in Mexico own the crypto asset. The report published by cryptoliteracy.org further explains…<\/p>\n","protected":false},"author":0,"featured_media":14737,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14736"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14736"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14737"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}