More than 90% of the Global Population Recognizes Cryptocurrency

A worldwide study conducted by Consensys indicated that although a significant majority of individuals are aware of cryptocurrencies, only 42% of those surveyed currently possess or have previously possessed digital assets.

In partnership with data provider YouGov, Consensys carried out its second annual extensive survey of the cryptocurrency landscape, releasing the findings in the “Global Survey on Crypto and Web3” report. The primary insights emphasize that while cryptocurrency adoption is on the rise, there are still considerable opportunities to educate and effectively engage potential users.

Key findings in numbers:

• worldwide, 93% of participants indicated awareness of cryptocurrencies, yet only 51% claimed to understand what cryptocurrency entails;
• 42% of participants currently own or have previously owned cryptocurrencies;
• the highest levels of ownership were noted in Nigeria (73%), South Africa (68%), the Philippines (54%), Vietnam (54%), and India (52%);
• significant obstacles to crypto adoption include market volatility (20%), the prevalence of scams (17%), and a lack of essential knowledge (14%).

It is important to highlight that the researchers identified key concepts associated with cryptocurrencies among users, specifically:

• the future of money (14%);
• an alternative to the traditional financial system (10%);
• the future of digital ownership (9%);
• a means for financial speculation (9%).

The survey encompassed over 18,000 participants aged 18 to 65 across 18 nations in Africa, the Americas, Asia, and Europe.

As per Bitfinex analysts, the total number of cryptocurrency owners reached 575 million as of December 2023. They also projected that by the conclusion of 2024, the number of digital asset users could rise to 1 billion.

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