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

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

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

In accordance with survey outcomes, 51% of respondents mentioned a lack of understanding is the primary barrier to the adoption of open-source cryptocurrencies like Bitcoin and Ether (ETH), whereas 34% of survey members cited safety issues as the primary impediment, and 29% indicated difficulties in figuring out the place to purchase crypto.

By way of crypto acceptance by institutional traders and company treasuries, 47% of respondents mentioned that total market belief or understanding of digital currencies was the largest adoption impediment. Some 32% of survey takers cited cryptocurrency rules as a main 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 individuals undertake and have entry to digital wallets, you possibly can simply see the quantity who’ve entry and put money into cryptocurrencies continues to broaden,” Goldman Sachs world head of digital belongings Mathew McDermott mentioned within the report.

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