Crypto Confusion: 50% of Americans Need More Info to Invest
Key Takeaways
- 70% of Americans without crypto investments want more information before participating
- 50% don’t understand how cryptocurrency works
- 34% show interest and willingness to learn more
- The industry needs enhanced education and trust-building to drive cryptocurrency adoption
While curiosity about cryptocurrency is growing among Americans, a lack of clear information and persistent concerns over security are still preventing many from taking the leap into digital assets.
Research conducted by the National Cryptocurrency Association (NCA) found that nearly 70% of the 2,000 non-crypto holders surveyed said they need more information before considering digital asset use.
Main Barriers
About half of those surveyed said they lack understanding of how cryptocurrency works. Additionally, many others expressed concerns about:
- Security and fraud issues
- The individuals behind cryptocurrency projects
- Lack of reliable information
Despite this, the survey showed that 34% of participants are willing to learn more about digital assets.
The Contradiction Between Curiosity and Trust
“Interest is high, but confidence is lacking,” the NCA report noted. Although many non-investors are open to learning and even participating, widespread confusion and distrust continue to hold them back.
About the National Cryptocurrency Association
NCA is headed by Ripple Labs’ chief legal officer, Stuart Alderoty. Launched in March, this nonprofit organization is supported by Ripple with $50 million in funding with the goal of “helping Americans better understand cryptocurrency” by sharing adoption stories.
Comparison with Previous Data
This survey yielded different results compared to data previously released by NCA. Harris’s poll surveyed 54,000 people, showing that about one in five U.S. adults owns some form of cryptocurrency.
Ripple’s Policy Activities
Chief Legal Officer Stuart Alderoty described NCA as “politically unbiased,” although he and other Ripple executives maintain an active presence in Washington, DC.
Recent activities include:
- Attending the stablecoin bill signing ceremony at the White House
- CEO Brad Garlinghouse attending inauguration and cryptocurrency summit
- Testifying at Senate Banking Committee hearings on digital asset market structure legislation.
As regulatory conversations continue to evolve, initiatives like the NCA may help close the knowledge gap and rebuild trust, two elements critical for widespread crypto adoption in the U.S.
