Survey Indicates Low Levels of Cryptocurrency Literacy

Cryptocurrency continues to grow in the global economy, but about 96% of Americans could not pass up questions about the basics of cryptocurrency, according to the results of the first Crypto Literacy Survey, which is part of a consumer education program from a major player industry.

The interrogation comprised 17 questionnaires for information on cryptocurrency, bitcoin, De-Fi, blockchain, mining, wallet types, and unmistakable tokens (NFTs), as well as common perceptions of digital currencies.

The quiz was developed by Cryptoliteracy.org, a coalition of Coinme, CoinDesk, and the Digital Currency Group. The affiliate website was launched in November in honor of the first annual Crypto Literacy Month, and covers the full results of the 2021 study.

Surveys and questionnaires were sent to 1,000 online cryptocurrency or bitcoin-aware online users in the United States, Mexico, and Brazil, rated for all ages, genders, and educational levels (as well as race / ethnicity in the U.S.). Similar to the low pass rate of 4% in the United States, 99% of participants in Brazil and Mexico did not pass the questions.

However, according to the study, 30% of Brazilians and 28% of Mexicans say they intend to buy or sell cryptocurrencies in the next six months, compared to 12% of Americans.

“Our industry needs to do more to improve the literacy of crypto around the world. By doing so, we can help people improve their lives by understanding how to spend secret money, ”said Neil Bergquist, CEO and founder of Coinme.

“As a champion of equal access and ease of digital finance, Coinme is proud to lead this effort in partnership with key industry partners,” he adds.

Other important data from the survey show that overall, cryptocurrency owners have scored higher in the crypto-literacy question, and that most owners are smaller, richer, and male.

In addition, younger generations in the United States are nearly three times as likely to use cryptocurrency as a payment method, while older generations often view it as an investment.

Buyers around the world are invited to test their cryptocurrency knowledge by answering Crypto Literacy Quiz online questions. Schools will be emailed privately to participants, and designed courses provided by CoinDesk develop knowledge of cryptocurrency concepts.

Visit cryptoliteracy.org to learn more about cryptocurrencies, test your knowledge, challenge your friends, and read the full results of the annual survey.

You can also join the social media forum and follow CryptoLiteracy.org on Twitter, Facebook and Instagram.