The 2024 study highlights significant progress in public awareness and a notable shift from speculative investments to practical, everyday use of cryptocurrency
SEATTLE, December 17, 2024 /PRNewswire/ — CryptoLiteracy.org, an industry initiative promoting broad consumer education on cryptocurrenciesannounced its inventory for 2024 Cryptocurrency Results of the Literacy Survey. The survey highlights the crucial role of knowledge in promoting responsible participation in the digital economy. The study found that 98.6% of respondents who reported having “a lot” of knowledge had cryptocurrencycompared to 32% with limited understanding. The study also found growing confidence in digital assets as a legitimate investment class and a sharp increase in the number of respondents with advanced knowledge on cryptocurrency compared to 2022 Cryptocurrency Literacy survey.
“Cryptocurrency enters a pivotal phase where broader public understanding can unlock its full potential as a traditional financial tool and investment,” said Neil BergquistCEO of Coinme. “The survey shows how knowledge drives trust, but it also reveals persistent gaps that the industry must address to ensure equitable access and safe adoption.”
This year’s report also comes as global markets react to the 2024 presidential election, with the new administration signaling a favorable stance toward crypto. Other key findings include:
- Knowledge breeds confidence crypto participation: Respondents with advanced knowledge are three times more likely to own cryptocurrency than those with limited understanding. 31.8% of respondents said they know “a lot” about cryptocurrencya sharp increase from 11.0% in 2022.
- Americans adopt crypto for daily finances: 29% of respondents consider cryptocurrency is part of their long-term retirement strategy, highlighting its transition from a speculative asset to a financial planning tool. 22% usage cryptocurrency for everyday transactions, including online purchases and fund transfers, demonstrating growing utility in daily life.
- The Americans demand crypto as a political priority: 59% of respondents identified regulatory clarity as the most critical factor crypto challenge for the next presidential administration. This strong demand highlights the urgent need for clear and comprehensive regulations in the field. crypto space.
- Changes in risk perception reflect a mature market: The percentage of respondents watching cryptocurrency as “extremely risky” fell from 43.1% in 2022 to 35.2% in 2024. More respondents now consider crypto as “somewhat risky” or “neutral,” indicating a growing comfort with digital assets as a legitimate investment class.
- Barriers to broader adoption persist: 26.6% of respondents need to understand what gives a cryptocurrency value, indicating that it is based solely on distribution rather than market demand and utility.
- Knowledge of advanced topics such as Challenge and staking remains limited: Only 22% correctly identified a private key as a critical tool for management cryptocurrency. Only 14% understand Challengeand 9% are aware of the role of staking in blockchain ecosystems.
“Overall, the survey highlights that knowledge is a crucial factor in trust and adoption of crypto. THE crypto the industry can benefit from improvement crypto literacy to enable broad understanding and adoption of digital assets,” adds Bergquist. “With more support than ever in the White House and Congress, this coming year presents a unique opportunity for crypto to cross the chasm and be used as a generally accepted store of value and payment mechanism, in addition to further adoption for multiple blockchains and Challenge use case.”
THE Cryptocurrency The Literacy Survey is an annual initiative assessing knowledge across cryptocurrencyblockchain, ChallengeNFT and digital finance. Led in October 2024 With 670 U.S. respondents divided by age, gender and income, the survey provides actionable information to guide educational and policy initiatives.
To learn more about CryptoLiteracy.org, please visit http://CryptoLiteracy.org.
About CryptoLiteracy.org
CryptoLiteracy.org is an industry initiative led by Coinme that promotes broad consumer education about digital currencies. The website is the home of Cryptocurrency Literacy quizzes, where people can rate crypto knowledge, identify gaps in their understanding, and challenge their family and friends’ awareness of digital currencies. The initiative is part of the annual program Cryptocurrency Literacy Month, organized every November, presenting the lessons of a survey of crypto awareness and education program hosted by CoinDesk Learn. To learn more about cryptocurrency and take the quiz to test your knowledge, visit https://www.CryptoLiteracy.org.
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About Coinme, Inc.
Coinme® is a regulated leader in the United States cryptocurrency exchange founded in 2014 with the mission to be the trusted global gateway to digital currencies and a better financial future. Coinme powers the world’s largest money exchange, with over 40,000 physical locations to cash out and withdraw instantly crypto. In addition, the company Cryptocurrency-as-a-Service (CaaS) provides an enterprise-grade API that “crypto-enables digital and physical financial infrastructure. With a vertically integrated suite of consumer products, Coinme provides a simple, reliable, instant and affordable way to buy, sell, store and manage crypto. For more information, visit www.coinme.com.
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