Lack of Knowledge the Main Barrier to Cryptocurrency Adoption

The Economist Intelligence Unit recently published the Digimentality 2021 report, a study of complications associated with cryptocurrencies. The study was commissioned by and contains a survey of 3,053 people that was conducted in February and March of 2021. The survey results showed that 55% of respondents were aware of cryptocurrencies despite never owning or using them. At the same time, the main barriers to adopting open-source cryptocurrencies like Bitcoin and Ether were an overall lack of knowledge about them, security concerns and not knowing where/how to buy them. Among institutional investors and corporate treasuries, 47% of respondents said that overall market trust and an understanding of digital currencies were the biggest adoption obstacles, with cryptocurrency regulations, financial market structures and asset volatility also cited as major obstacles.