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Among the many many problems related to cryptocurrencies like Bitcoin (BTC), a lack of awareness and understanding of crypto is the largest impediment for wider adoption, in response to a brand new survey.

The Economist Intelligence Unit, the analysis and evaluation division of the Economist Group, released a brand new report referred to as “Digimentality 2021.”

The examine was commissioned by main fee and cryptocurrency platform Crypto.com and accommodates a client survey of three,053 folks carried out from February to March 2021.

In line with survey outcomes, 51% of respondents mentioned a lack of awareness is the principle barrier to the adoption of open-source cryptocurrencies like Bitcoin and Ether (ETH), whereas 34% of survey contributors cited safety considerations as the principle impediment, and 29% indicated difficulties in understanding the place to purchase crypto.

When it comes to crypto acceptance by institutional buyers and company treasuries, 47% of respondents mentioned that general market belief or understanding of digital currencies was the largest adoption impediment. Some 32% of survey takers cited cryptocurrency rules as a major impediment to wider institutional acceptance, whereas 43% and 36% mentioned monetary market buildings and asset volatility had been the foremost impediment, respectively.

Supply: The Economist Intelligence Unit

The survey additionally acknowledged that 55% of respondents had been conscious of cryptocurrencies regardless of by no means proudly owning or utilizing them. “As extra folks undertake and have entry to digital wallets, you’ll be able to simply see the quantity who’ve entry and put money into cryptocurrencies continues to broaden,” Goldman Sachs world head of digital property Mathew McDermott mentioned within the report.

In line with a latest survey by Gemini crypto trade, almost two-thirds of adults in the US are interested in learning more about cryptocurrencies or holding them quickly.