CryptoLiteracy.org, an industry initiative focused on enhancing consumer education about cryptocurrencies, has released its 2024 State of Crypto Literacy Survey results, highlighting the growing importance of consumer knowledge in the digital economy. Conducted in October 2024 with 670 U.S. respondents, it offers key insights into the evolving landscape of crypto literacy and the need for continued education to ensure safe and equitable adoption of digital assets.
The survey revealed that 98.6% of respondents with advanced cryptocurrency knowledge own digital assets, compared to 32% with limited understanding. Cryptocurrency awareness has significantly increased since 2022, with 31.8% claiming to know “a great deal” about it, up from 11%. Many Americans now view cryptocurrencies as legitimate investments, with nearly 30% incorporating them into retirement strategies and 22% using them for everyday transactions. However, 59% emphasize the need for regulatory clarity to encourage further adoption. Despite this increased knowledge, there are still gaps in understanding complex concepts, with only 22% identifying a private key and even fewer understanding DeFi (14%) and staking (9%).
Neil Bergquist, CEO of Coinme, emphasized the crucial role of education in unlocking crypto’s full potential, noting that the growing knowledge base could lead to broader adoption.
“The survey shows how knowledge drives confidence, but it also reveals persistent gaps that the industry must address to ensure equitable access and safe adoption,”
Bergquist noted.
Crypto literacy is evident in a recent Kraken survey of 2,537 Americans, revealing that 55% recognize cryptocurrency’s practical applications, though 29% remain uncertain about its long-term viability. Among current crypto holders, 73% plan to continue investing into 2025, with 43% viewing crypto as more secure than traditional finance and 52% seeing it as a promising investment. The survey also highlighted misconceptions, such as the belief that crypto is primarily used for illegal activities, with 60% of respondents holding this view despite evidence to the contrary.
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