Study Reports Many Americans Aware of Stakes Involved in Cryptocurrency
How Many Americans Are Aware of Cryptocurrency Risks?
Users voiced concerns about the prospects of cryptocurrencies becoming the standard for online purchases, and a variety of other cryptocurrency concerns as well. Reports by the remaining three in ten were that 19% were unsure of what exactly to be concerned about. Data also reveals that 11% percent had no issues regarding the subject of cryptocurrency.
The study conducted by NordVPN in the United States included 1000 respondents. Data revealed that 68% of the respondents were 'consciously aware' of the hazards involved with cryptocurrency.
These risks include account takeovers; trading platforms, systems, & exchanges getting hacked; phishing emails, calls, or text messages informing change in funds; and forgery of coins or system fraud.
The study also discovered that 69% of the population had a basic understanding of cryptocurrency and how it can be utilized. The rest of the population, around 32%, did not report any awareness of the risks involved.
The Good News and The Bad News
As the term ‘cryptocurrency’ is trending across the globe, people have begun to become more aware of cryptocurrency. The good news is that users of the crypto space are mindful of the hazards associated with this ingenious technology.
Individual customers would be better positioned while protecting themselves if they have a greater grasp of cyberattacks. However, the bad news is that, although 32 percent of individuals are aware of cryptocurrencies, they lack awareness of the hazards of crypto-related crimes such as cyber threats.
Many people are skeptical of cryptocurrency’s relevance in the financial system. The NordVPN report concludes,
“However, this is just part of a larger, more troubling trend.”
With the usage of digital currencies spreading wide, the lack of understanding and awareness could cause a serious issue. The report stated,
“The real issue is that many people in the wider population, in the US and beyond, have a poor understanding of online risks in general.”
In conclusion, cybersecurity awareness has never been more important than in current times where the majority of the population uses the Internet every day. NordVPN urges consumers and people interested in learning about cryptocurrency to improve their online security with three solutions - strong passwords, being aware of phishing emails, utilization of VPNs.
