While some people trust in the long-term potential of crypto, others are afraid to invest due to various concerns. According to a recent study by Coupon Follow, the majority of those who haven’t participated in the crypto world cite concerns about heavy price volatility and limited applications, as well as environmental and regulatory concerns.
A total of 1,172 participants aged 18 and up responded to the study, which includes Gen Z, Millennials, Gen Xers, and Baby Boomers. A total of 172 to 333 people were used to represent each category. All respondents were “no coiners” or people who had not yet invested in cryptocurrency, according to the research.
The study revealed that the most common cause of buyers’ hesitancy was a lack of knowledge across all generations. When asked why they refused to acquire any virtual currency, 42% stated they didn’t “understand their value.”
Eagerness to learn about crypto
On the other hand, the survey also reveals that interest in knowing more about crypto has not decreased. The majority of participants were at least moderately curious to learn more about cryptocurrencies, even if they were unwilling to put money in them. A significant portion of respondents, 39%, were scared off by price volatility.
Consumer protection is the primary concern of regulators, and it’s clear that they’re having trouble keeping up with a fast-paced industry. There is regulation, but it is disorganized. With the general public becoming more aware of digital assets, we may see greater regulation in this field. The US Securities and Exchange Commission or SEC just revamped its crypto unit with new hiring, as TheCoinRise reported.
Learning more about the advantages of investing in bitcoin, according to 18% of respondents, was the most effective way to go from skeptic to believer. The most likely circumstance that would inspire millennials to invest in cryptocurrencies is more disposable income. Within the emerging space, Gen Z members are more engaged in government regulation and law enforcement, according to the study.