How much do Americans Know about Cryptocurrency?

Cryptocurrency

A company that has created a reputation for offering credit cards, financial loans among other commercial products, LendEDU, organized for a survey in October 2017, which was aimed knowing how much the Americans know about cryptocurrency. The target for this study was 1,000 people. They were asked some questions that are related to initial coin offerings popularly referred to as ICOS, Ethereum, and ripple. A renowned online polling company known as OnePoll was entrusted to conduct the survey, as a third party. For all the people who responded, OnePoll was able to break down their gender and age. No person under the age of 18 participated in the poll that lasted from 27th to 30th October.

Ethereum has a market capitalization of $28.49 billion and is so far the second-largest cryptocurrency, which amounts to an estimate of one-fourth of the market capitalization of Bitcoin. It has seen its price grow from $7.98 at the beginning of the year 2017 to $298 by the time of the poll. About 31.6 percent of Americans have heard about Ethereum, and 18.2 percent are intending to invest in it. 58.49 percent of young people who range between the 18 and 24 years of age are aware of the existence of Ethereum, and 32 percent of them intend to invest in it.

Ripple is considered the third largest cryptocurrency with a market capitalization of $8 billion, which equals to one-fifth of the total market capitalization of Bitcoin. The growth of Ripple has been registered at 0.201 from 0.006 at the beginning of this year. About 31.19 percent of the individuals that were interviewed expressed their interest in investing in Ripple as an asset for the future. While speaking in an interview, the chief executive officer of Ripple said that 2017 has been a year where people have realized that there shall be many cryptocurrencies. He went on to wish Ethereum and Bitcoin success.

The popularity of ICOs has risen significantly this year mainly because of the innovative investment opportunity it provides. It has however had some controversy that led it to be branded a scam and was declared illegal in China while the United States Security and Exchange Commission halted two 1COs for allegedly being sponsored by real estates to defraud people. According to the poll, about 25 out of 100 Americans have heard about the existence of ICO while only 15.2 percent are interested in investing in it.

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