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Survey Reveals 92% of Worldwide Participants Possess Fundamental Understanding of Cryptocurrency
A collaborative study carried out by Consensys and YouGov found that 92% of respondents are familiar with cryptocurrencies. 37% regard this asset class as the future of money, while 26% perceive it as a fraudulent scheme.
Individuals in the United States and the United Kingdom are more inclined to link digital currencies with deceptive practices.
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The Sentiment Toward Crypto and NFTs
The survey, which spanned the Americas, Asia, Europe, and Africa and involved over 15,000 participants, indicated that the majority of respondents recognize cryptocurrencies, with many optimistic about the industry’s prospects.
Nigerians (65%) and Argentines (56%) are the most driven to hold digital assets as a means of preserving value, likely due to the volatility of their financial systems and local currencies.
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Nigerians are also the most likely to associate cryptocurrency with the future of money, followed by South Africans and Mexicans in second and third place, respectively. In contrast, only 15% of British respondents and 17% of Germans share this viewpoint.
The survey also addressed the environmental implications of the technology. 57% of Brazilians believe it is not detrimental, while only 25% of French respondents concur.
Furthermore, the analysis indicated that Nigeria, South Africa, and Vietnam are the countries most knowledgeable about non-fungible tokens (NFTs). 76% of British individuals aware of digital collectibles have never owned any, compared to 24% of Vietnamese respondents.
“Results reveal that people worldwide are motivated to build and believe they are making valuable contributions online. This evolution indicates a shift in user behavior toward active participation, empowerment, and broader community ownership, characterized by Web3,” concluded Consensys and YouGov.
A Closer Look at Nigeria and Argentina
The economic instability, particularly the decline of their official currencies, may be a significant pro-crypto influence for Nigerians and Argentines.
As reported by CryptoPotato last summer, some individuals in Nigeria began seeking alternative investments like bitcoin and stablecoins amid a severe depreciation of the naira.
Similarly, Argentines have embraced the asset class due to the country’s political turmoil and financial instability. The price of USDT in Argentine pesos surged on various exchanges in 2022 following Martin Guzman’s resignation as Minister of Economy.
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