Americans don’t have a lot of faith in cryptocurrency. Around 75% of those who are familiar with crypto say they aren’t confident that the current ways to invest in, trade or use cryptocurrency are reliable and safe, according to Pew Research Center’s April survey of 10,071 people ages 18 and older living in the U.S. About 18% say they’re somewhat confident, but just 6% feel extremely or very confident, the survey found. Confidence varies by age as well. About 66% of U.S. adults under 50 who are familiar with crypto aren’t confident in its reliability and safety, the survey found. For those over 50, that number rises to 85%. What’s more, American crypto traders feel their investments haven’t performed as well as they had hoped, according to Pew’s survey. About 45% of respondents say their investments have actually done worse than they expected. While 30% say their investments have performed as expected, only 15% say their investments have performed better than anticipated. One reason for the lack of optimism could be that it’s currently a somewhat complicated time for the crypto industry. The overall cryptocurrency market lost around $1.4 trillion in value in 2022 as various crypto firms filed for bankruptcy and FTX, one of the largest crypto exchanges, collapsed. Additionally, crypto investors lost nearly $4 billion to hackers in 2022, according to Chainalysis, a blockchain analysis firm. But despite previous turmoil, crypto’s most popular digital coin appears to be rallying so far this year.
Full report : 75% of Americans don’t trust crypto and nearly half of traders say their investments have performed worse than expected.
