About 40% of US Adults Not at All Confident in Safety and Reliability of Crypto: Pew Research Study

A big share of US adults imagine cryptocurrencies lack safety and reliability, based on a brand new Pew Analysis Middle examine.

The Pew Analysis Middle carried out the survey from March Thirteenth-Nineteenth by asking inquiries to 10,701 US adults who’re members of Pew Analysis Middle’s American Traits Panel (ATP), a web-based survey panel recruited by means of a random sampling of residential addresses.

The examine finds that 39% of adults who’ve heard about cryptocurrency are in no way assured within the reliability and security of digital property, whereas a further 36% aren’t very assured.


A chart showing that 75% of Americans who have heard of cryptocurrencies are not confident in their safety and reliability.
Supply: Pew Analysis Middle

On the opposite finish of the spectrum, solely 2% of adults are extraordinarily assured in cryptocurrencies, whereas 4% are very assured in crypto, per the examine. About 18% say they’re considerably assured.

The examine additionally finds that attitudes about cryptocurrencies differ broadly primarily based on demographics.

“Whereas concern about cryptocurrency is broad, some teams of Individuals are extra involved than others. As an example, adults ages 50 and older who’ve heard about cryptocurrency are extra doubtless than their youthful counterparts to say they don’t seem to be assured in its reliability and security (85% vs. 66%).

Girls are additionally barely extra skeptical of investing in, buying and selling or utilizing cryptocurrencies. Amongst Individuals who’ve heard about cryptocurrency, 80% of ladies say they don’t seem to be assured in it, in contrast with 71% of males.”

US adults who use, commerce or spend money on crypto have remained principally unchanged at 17% when in comparison with the earlier research carried out by Pew Analysis Middle in 2021 and 2022.

The examine additionally reveals that almost a 3rd of respondents who held digital property earlier than bought out of the crypto markets.

“Roughly three-in-ten adults (31%) who’ve ever invested in, traded or used cryptocurrency say they at the moment don’t have any cryptocurrency. Nonetheless, a majority (69%) say they do at the moment have cryptocurrency.”

Lastly, the survey finds that almost half of crypto traders say that their portfolios have carried out worse than anticipated.

“A plurality of cryptocurrency customers (45%) report that their investments have carried out worse than they anticipated, a end result that’s statistically unchanged since July 2022, when the Middle final requested about this. As compared, 15% say their investments have accomplished higher than anticipated, 32% say they’ve accomplished about the identical as anticipated and seven% are uncertain.”

One chart showing that 45% of Americans who have invested in, traded or used crypto say their investments have done worse than expected. Another chart shows that a majority of users say their investments have neither helped nor hurt their personal finances.
Supply: Pew Analysis Middle

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