Most US Crypto Investors Lack Full Understanding of Blockchain Technology, but Interest in Learning More Continues to Rise

In a recent survey by language-learning company Preply, it was revealed that about 60% of US cryptocurrency investors do not fully understand blockchain technology. This distributed database or ledger shared among a computer network’s nodes remains unclear to three out of five respondents. Additionally, the survey found that 35% of crypto investors lack confidence in their knowledge of cryptocurrency.

The survey also 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. Among the top-searched terms were DAO (Decentralised Autonomous Organisation), DEX (Decentralised Exchange), and ICO (Initial Coin Offering). Interestingly, the survey found 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. Despite some lack of understanding among some investors, there is still a growing curiosity and interest in learning more about cryptocurrency.