Cryptocurrency Literacy

 Low Cryptocurrency Literacy Rates, According To A Survey

According to the results of the first Crypto Literacy Survey, a consumer education initiative from a coalition of major players in the digital currency industry, although cryptocurrency continues to spread throughout the world economy, approximately 96% of Americans were unable to pass a quiz about the fundamentals of cryptocurrency.
The 17-question quiz was designed to test knowledge of cryptocurrencies, such as bitcoin and De-Fi, as well as blockchain technologies, mining techniques, wallet types, and non-fungible tokens (NFTs). It also sought to gauge general attitudes toward digital currencies.
Coinme, CoinDesk, and the Digital Currency Group are part of the alliance that founded Cryptoliteracy.org, which also designed the quiz. The coalition website, which debuted in November in commemoration of the inaugural Crypto Literacy Month, has the full findings of the poll conducted in 2021.

1,000 internet users in the US, Mexico, and Brazil who were aware of cryptocurrencies like bitcoin were sent the survey and quiz, with a balance between age, gender, and educational attainment (plus race and ethnicity in the US). Ninety-nine percent of participants from Brazil and Mexico failed the test, which is comparable to the low pass rate of 4% in the United States.

In contrast to 12% of Americans, 30% of Brazilians and 28% of Mexicans, according to the survey, say they plan to buy or sell cryptocurrencies in the upcoming six months.

"Our industry must work harder to raise crypto knowledge around the globe. According to Neil Bergquist, CEO and co-founder of Coinme, "by doing this, we can assist people improve their lives by understanding how to utilize cryptocurrencies."

He continues, "Coinme is happy to spearhead this endeavor in partnership with important industry partners as an advocate of equal and straightforward access to digital currencies.

Other significant findings from the poll include the fact that, on average, cryptocurrency owners scored higher on the crypto-literacy quiz and that, on average, they are younger, wealthier, and male.

Additionally, compared to older generations, who are more prone to regard cryptocurrencies as investments, younger generations in the United States are almost three times as likely to utilize them as a form of payment.

Customers from all over the world are welcome to test their understanding of cryptocurrencies by taking the online Crypto Literacy Quiz. Participants will receive their scores in a private email along with courses designed specifically for them by CoinDesk to help them learn more about cryptocurrencies.

Visit cryptoliteracy.org to see the full findings of the annual poll, test your own knowledge, compete with friends, and learn more about cryptocurrency.

You can also follow CryptoLiteracy.org on Twitter, Facebook, and Instagram to participate in the social media discussion.