92% of Global Respondents Have Basic Knowledge of Crypto: Survey

A joint research by Consensys and YouGov estimated that 92% of respondents are familiar with cryptocurrency. 37% see the asset class as future money, while 26%, in the opposite corner, see it as a scam.

US and UK residents are more likely to associate digital currencies with fraudulent schemes.

Sentiment towards cryptocurrency and NFT

The survey, which spread across the Americas, Asia, Europe and Africa and included more than 15,000 individuals, show up Most of the respondents are familiar with cryptocurrency, and many see a bright future for the industry.

Nearly 40% of respondents believe that the asset class can emerge as the future of money, while 31% see it as the future of digital property. Every fourth sector gives the evil eye, comparing it to a scam.

Nigerians (65%) and Argentines (56%) are most motivated to hold digital assets as a store of value. This can be explained by the instability of their financial system and local currencies.

Nigerians are also the most inclined to associate crypto with the future of money. South Africans and Mexicans come in second and third, respectively. On the other hand, only 15% of Britons and 17% of Germans agree with this thesis.

The survey touched on the environmental impact that technology has on the planet. 57% of Brazilians believe that it is not harmful, while only 25% of French respondents think the same.

Next, the analysis revealed that Nigeria, South Africa, and Vietnam are the countries most familiar with non-fungible tokens (NFTs). 76% of Britons who are familiar with digital holdings have never owned one, compared to 24% of Vietnamese.

“The findings reveal that people around the world are motivated to build and believe they are making valuable contributions online. This development signals a shift in user behavior toward active participation, empowerment, and broader community ownership, which is characteristic of Web3.”

A closer look at Nigeria and Argentina

Economic turmoil, and specifically the devaluation of their official currencies, could be a major factor in favor of cryptocurrency for Nigerians and Argentines.

like Potato encryption mentioned Last summer, some residents of the African country began looking for alternative investments such as bitcoin and stablecoins amid a sharp crash in the naira currency.

For their part, Argentines have opened their arms towards the asset class due to the political chaos and financial turmoil in the country. The price of USDT is measured in Argentine pesos throat In many exchanges in 2022 when Martin Guzmán resigned as Minister of Economy.