Most Americans are afraid to invest in cryptocurrencies — here’s the reason

According to a survey conducted by CNBC, the majority of US residents are afraid to invest their savings in cryptocurrencies. The global economic crisis, large-scale bankruptcies in the crypto sector, the Federal Reserve’s interest rate hike, and high unemployment in America have all contributed to a negative attitude toward cryptocurrencies, which are considered risky investments.

Among the several thousand Americans surveyed, 60% do not plan to buy digital assets in the near future because they are afraid of losing money during a market downturn. As for cryptocurrency supporters, 15% of them have already invested in digital assets. 10% of respondents believe that absolutely all cryptocurrency tokens are fraudulent, and 15% said that only some cryptocurrencies are risky.

It is worth noting that according to last year’s CNBC survey, only 45% of respondents were afraid to invest in cryptocurrencies — due to problems in the crypto sector in 2022, this figure increased by 15%.

At the end of October, we told you about a survey of US youth that found that almost half of Generation Z and millennials want cryptocurrency to become part of their retirement savings. 46% of Generation Z and 45% of millennials said they would like to invest in cryptocurrencies as part of their future retirement planning.