Kaspersky’s Report: Only 10% of Global Consumers Fully Understand the Crypto World

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“Cryptocurrency certainly has its benefits, but as we can see, many consumers are still unaware of what they are due to concerns over security and how the technology works,” explained Alexey Sidorowich, head of sales and business development at Merkeleon. “It is an exciting industry to be involved in, but it is one that is built upon trust. It is, therefore, imperative that cryptocurrency businesses do all they can to protect their networks and ensure their customers’ finances are safe and secure.”

https://usa.kaspersky.com/about/press-releases/2019_only-one-in-ten-consumers-understand-how-cryptocurrency-works

To help enhance stability and boost confidence in cryptocurrencies, Kaspersky partners, for example Merkeleon, have grown valid market platforms, on line auction platforms, cryptocurrency markets and crypto payment methods. “While there’s a high urge to utilize cryptocurrency, providing your hard-earned money to something you do not fully comprehend, or understand, is a barrier.

With the security of investments of overriding importance to customers, it’s essential that they take their own actions to protect it.” Additionally, some customers believe there’s a threat to their safety if using. Around one-in-five (19 percent ) of the surveyed, stated that they’ve undergone hacking attacks on exchanges. Cybercriminals also have been known to utilize cryptocurrencies like producing to pull investors be it small or big to invest their cash.

15% of customers and investors have been victims of fraud related to cryptocurrency. As per some other Kaspersky poll, a lack of understanding and confidence are crucial elements preventing consumers from utilizing cryptocurrencies for regular financial transactions.

THE REPORT

The report shows that while almost a third of individuals (29 percent ) have some understanding of cryptocurrency, only one-in-ten (10 percent ) believe they fully understand how this technology works. So far, the great majority of individuals (81 percent ) haven’t bought cryptocurrency, highlighting just how far off it’s from being approved as a frequent type of investment or payment.

The survey of kaspersky discovered that this knowledge gap is not preventing users from discouraging some users, but also embracing cryptocurrency. Of 18% ceased doing this since it turned out too complex. Adoption has been slowed by customers’ distrust in its being able.

For example, almost a third (31 percent ) of respondents ceased using cryptocurrency because of its volatility. There’s also a frequent perception amongst customers that cryptocurrency won’t be around indefinitely, using a third of individuals (35 percent ) believing it’s a fad that’s not worth bothering . There’s still some need, while curiosity about cryptocurrencies might have surfaced. A fifth (20 percent ) of people surveyed stated that while they’re not using cryptocurrency right now, they’d love to later on.

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