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A recent survey conducted by Preply revealed that 60% of US cryptocurrency investors do not fully understand blockchain technology. This distributed database or ledger shared among a computer network’s nodes was unclear to three out of five respondents. Additionally, the survey found that 35% of crypto investors lack confidence in their knowledge of cryptocurrency.
In addition to assessing investors’ knowledge levels, the survey also analyzed Google search volume for 29 different crypto-related terms over the past 12 months in all 50 states and 181 of the US’s largest cities. The top-searched terms included DAO (Decentralized Autonomous Organization), DEX (Decentralized Exchange), and ICO (Initial Coin Offering). Interestingly, the survey found that there was a stronger interest in crypto acronyms and abbreviations than full words and phrases among searches.
Some states showed more interest in cryptocurrency terms than others, with Florida, Washington, and California leading the way in number of searches related to crypto. Among those who had not invested in cryptocurrency, 54% expressed interest in learning more about it. This suggests that despite some investors lacking understanding, there is still a growing curiosity and interest in learning more about cryptocurrency.