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Bitcoin receives an average trust rating of 4.67 out of 10 in a survey conducted by Cornell across 25 nations.
Bitcoin (BTC) achieved an average trust rating of 4.67 on a 10-point scale across 25 nations, as per a survey published by Cornell Bitcoin Club on Sept. 3.
The survey highlights notable regional differences in attitudes towards cryptocurrency. Nigeria topped the global Bitcoin trust rankings, whereas Japan recorded the lowest ratings among the countries surveyed.
BTC consistently fell short of traditional assets, such as gold, real estate, and major fiat currencies in comparisons regarding risk perception.
Government trust patterns
Ten nations exhibited greater trust in Bitcoin than in their respective national governments: Brazil, Indonesia, Kenya, Lebanon, Nigeria, the Philippines, South Africa, Turkey, Ukraine, and Venezuela. These areas are characterized by emerging markets or regions facing political instability.
The UAE, China, and Saudi Arabia showed high levels of trust in their governments, which significantly surpassed the confidence ratings for Bitcoin. This trend indicates that Bitcoin garners interest in places where institutional trust has diminished, positioning cryptocurrency as an alternative to centralized governance.
Survey respondents consistently assessed Bitcoin as riskier than traditional investment avenues across all categories. Nevertheless, 45% of participants regarded Bitcoin as equally risky compared to stocks, while 43% perceived it as comparable to corporate bonds, suggesting some alignment with established volatile asset classes.
Inquiries regarding Bitcoin’s potential to reduce fraud, protect privacy, and the reliability of service providers yielded predominantly neutral responses rather than definitive endorsements or rejections.
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This trend implies a widespread uncertainty regarding Bitcoin’s practical advantages rather than informed skepticism.
Financial stress correlation
Nations reporting elevated levels of financial stress, as indicated by responses to “my finances control my life,” generally exhibited increased Bitcoin ownership and trust.
Turkey, India, Kenya, and South Africa displayed the highest indicators of financial stress alongside increased rates of Bitcoin adoption.
El Salvador, Switzerland, China, and Italy reported the lowest levels of financial stress, correlating with diminished interest in Bitcoin. Mexico, Italy, and Japan ranked lowest in both financial stress and cryptocurrency adoption metrics.
While correlation does not imply causation, the data suggest that Bitcoin may serve as an alternative financial system in regions experiencing significant economic strain.
The Cornell study indicates that Bitcoin’s global standing reflects local economic conditions and levels of institutional trust rather than uniform acceptance or rejection trends.
Uncertainty, rather than outright dismissal, characterizes the perspectives of most respondents regarding cryptocurrency capabilities.
The post Bitcoin averages 4.67/10 trust score across 25 countries in Cornell survey appeared first on CryptoSlate.
