The technology surrounding cryptocurrencies can be downright overwhelming -- so much so that people don't know where to start their crypto journeys. Lack of knowledge is one of the top two reasons people pass on purchasing digital dollars. In fact, research shows that the cognitive cloudiness for crypto increases with age.
Bakkt -- an asset platform for trading and storing a range of digital assets for institutional and individual investors -- recently published its U.S. Consumer Crypto Survey of more than 2,000 U.S. investors. The survey explored perceptions and behaviors around cryptos and digital assets. The research found that 26% of respondents between the ages of 18 and 44 admitted knowing nothing about cryptos. Given the complexity of crypto tech, it may make sense that the knowledge gap widened a bit to 45% for individuals between ages 45-60, and expanded further to more than half of respondents older than 60.One email a day could help you save thousands
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The Bakkt researchers found that boosting financial literacy around crypto is important for investors of all ages, so everyone can benefit from the new e-money.
"Bitcoin is not just for Gen Z. The survey indicates mass adoption is here," says Bakkt Executive Vice President, Digital Assets, Dan O'Prey. "But, as you note, we aren't seeing as much adoption and understanding in the 60-plus age bracket. There is an opportunity to educate and demystify, and that will be a big theme going forwar...