Research: Most Americans consider crypto to be unsafe

The emerging sector of cryptocurrencies has had to take a few steps back after the past year. Not only has the price of bitcoin and therefore the entire crypto market fallen considerably in the past twelve months, the reputation of the crypto market itself has also become a lot more negative.

Ruined image of crypto?

In the crypto news, several studies have passed in the past month where the conclusion is very similar. For example, you could read that 60% of Americans find crypto risky, while this percentage was still 45% in August 2021. You could also read that only 8% of Americans view crypto positively, while this percentage was still about 19% in March 2022.

Of course, 2022 was also not an easy year to maintain the reputation built up earlier. With the significant price drops and all the scandals that we have now experienced, the conclusion that the image of crypto has suffered a dent is more than logical.

However, you could also read in the altcoin news that a study came to the conclusion that one in five consumers still own cryptocurrencies.

Crypto an unsafe investment

According to a recent YouGov survey 55% of Americans consider investing in digital currencies unsafe, compared to 18% who consider it a safe investment. Even among Americans who have already invested their money in crypto, most would agree that it is an unsafe investment.

The survey also shows that many Americans would like the US government to step up crypto regulation. A total of 46% said they support crypto regulation, including 55% of Democrats and 50% of Republicans.

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The results of this survey suggest that many Americans are aware of the high risk profile involved in investing in cryptocurrency. However, many Americans also recognize the development potential within the industry, provided there is more government regulation.

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