A survey by the Pew Research Center found that around 63% of Americans have little to no confidence in the security and reliability of cryptocurrency investments, trading, or usage.
This skepticism stems from major events that shook the market, including the collapse of crypto companies in 2022 and the failure of banks linked to the industry, such as Silicon Valley Bank.
Additionally, the constant volatility of crypto prices and the increasing number of fraud-related lawsuits have further fueled doubts.
However, there are ways to manage risks when investing in crypto, such as conducting thorough research before investing and only committing funds that one can afford to lose.
Age also plays a role in trust levels. Respondents aged 50 and above are more skeptical than younger generations, with 71% saying they are unsure or completely distrust crypto.
Despite widespread doubt, some investors remain optimistic. In fact, 19% of those who have already invested say they are very or somewhat confident in crypto’s security and reliability.
Source: Crypto Academy
