If you are a crypto investor, you surely know everything about the industry and the value of these assets or at least just enough to have taken the time and resources to make investments. If you are an average Internet user, you also know about cryptocurrencies and the blockchain technology. However, not everybody is familiar with the crypto phenomenon.
Whilst a sizable portion of the population with access to the web is acquainted to cryptocurrencies, there still are communities that have not heard of them. In fact, according to a recent survey conducted by online security Company Kaspersky Lab, roughly 19% of the world population acquired cryptocurrencies before 2019.
To put it in a different way, roughly a fifth of the world’s population has bought cryptocurrencies before the current year started. It goes to show that despite the power that these assets have demonstrated time and time again, they still have potential and room to grow.
The “The Kaspersky Cryptocurrency Report 2019”
The survey was published this week, but it was performed between October and November of 2018. It is dubbed “The Kaspersky Cryptocurrency Report 2019,” and 13,434 respondents in 22 nations took part in the proceedings.
The report states that approximately 81% of the population in the planet has never bought cryptocurrencies. One out of ten respondents explained they “fully understood how cryptocurrencies worked.”
The crypto industry does have work to do in order to captivate more investors and people in general, as evidenced by the fact that only 14% of the people that said they have not ever used crypto assets would like to acquire them in the future.
When asked about the reasons why global crypto investors have “stopped” using these assets, most respondents replied that the high volatility was the main factor that drove them away, implying that stability is needed for the industry to grow.
The volatility answer was the most common when naming the reasons behind the lack of usage, but other factors mentioned in the report were loss of funds in the bear market and a lack of profitability, with each answer checking in at 23%. It is important to highlight that October and, specially, November were cruel months for bitcoin and most of the top altcoins regarding their price.
Another 22% of the population consulted in the survey responded that they do not use cryptocurrencies because they were not backed with real assets. Being feared of hacking attacks was the response that 19% of the time, and fraud vulnerabilities checked in at 15%. Combined, they accounted for a considerable 34%.
In the report, Kaspersky cited an official from Merkeleon, a partner company. Alexey Sidorowich, Head of Sales and Business Development at Merkeleon, expressed that “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. 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.”
By Andres Chavez