Confirmed crisis of confidence – We know, theyear 2022 been terrible in the financial markets and more particularly in the sector of the crypto. Falling prices, business bankruptcies and scandals over the management of some of them, cascading legal proceedings and finally, regulatory uncertainties in most countries of the world. After all that, the public trust in cryptocurrencies is necessarily started and this is reflected in the latest study conducted in the United States by Pew Research Center. Details to follow.
75% of Americans who know cryptocurrency are not confident
The study, conducted in early March 2023, begins by distinguishing between those who have heard at least a little about cryptocurrency and those who have not. Among the first category, which represents 88% of respondents, the vast majority did not not trust in cryptos. In details, 39% have no confidence at all and 36% don’t have much confidence. At the other end, only 2% are extremely confident, 4% very confident and 18% quite confident.
Among these rather negative overall results, there are some distinctions to be made according to certain characteristics. For example, people over 50 and the women are slightly less confident that younger and the men generally. Finally, those who have already invested in crypto are also more confident than those who have only heard about it all. On the occasion of this study, teams from the Pew Research Center, a specialist in opinion polls, trends and demographics across the Atlantic, also reviewed the users of cryptocurrency.
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The Typical U.S. Crypto User Profile Isn’t Changing Too Much
We thus learn that 17% of Americans have already invested, purchased or used a crypto. This proportion remains unchanged compared to the last studies carried out in 2021 and 2022. Moreover, the standard profile of the crypto investor remains more or less unchanged year over year. It’s always a male instead young between 18 and 29 years old, with a middle or upper income. Unlike France, the Americans use ethnic criteria in their studies which have enabled them to determine that it is the asian who are most interested in crypto.
Finally, the study sought to find out if the year 2022 had been conducive to public discovery of crypto. And the answer is no! Indeed, among those who have ever invested in, purchased or used crypto, 74% did it between one and five years. Only 16% did it during the last year while 10% got into crypto ago 10 years. We also feel this negative movement in the 31% of this same category of those who have already invested, purchased or used who no longer have of crypto today following the events of the past year.
Overall, the survey results confirm a mistrust in the crypto ecosystemcertainly following a year 2022 in any case horrible. However, the study is in contradiction with others of the same kind showing rather a sustained interest for crypto in times of crisis. But it must be admitted that the methodologies of these polls vary so much that the results are to be taken for what they are, namely a simple snapshot of the state of mind of a given population. And to stay positive right now, you really have to have faith !
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