SatoshiLabs Survey Reveals Potential Massive Cryptocurrency Adoption Ahead

SatoshiLabs, inventors of cryptocurrency hardware wallet Trezor, has released new data about the current state of awareness and understanding of cryptocurrencies within the general American population, surveying over 1,000 respondents.

The study found that more than half (58%) of respondents place more trust in bitcoin than banks. More broadly, nearly three-quarters of respondents (71%) reported they are at least a little familiar with cryptocurrency (with 40% being extremely or very familiar) and are open to acquiring cryptocurrency in the future (74%).

Below are the top findings of the survey:

• (45.8%) of respondents stating that they already own cryptocurrencies
• Almost all (95%) of crypto owners are on board with crypto being a genuine currency solution, with 31.7% of them seeing it as a legitimate alternative to dollars and 40% still slightly favoring cash
• More than half (58%) of respondents place more trust in bitcoin than banks
• More broadly, nearly three-quarters of non-crypto respondents (71%) reported they are at least a little familiar with cryptocurrency (with 40% being extremely or very familiar) and are open to acquiring cryptocurrency in the future (74%)
• Regarding security, (35%) report being concerned about their digital assets’ security but don’t know how to protect themselves. Conversely, 24% said they are not concerned about security at all
• The recent upward price trend may be leading to a more security-conscious community. A massive (71.2%) percent of respondents are likely or very likely to buy a hardware wallet in the next six months, rising as high as (80.5%) among crypto investors

Marek Palatinus, co-founder and CEO of SatoshiLabs, said that given the continuing level of confusion and outdated information when it comes to cryptocurrencies, security and related technology like hardware wallets, they felt strongly that it would be in everyone’s best interests to know what the actual state of the cryptocurrency ‘branding’ is – and what the pitfalls and opportunities are.

“The fact that almost three-quarters of respondents are familiar with crypto and open to acquiring it fits with what I hear and see, but differs somewhat from the common narrative, which can be more negative,” said Palatinus. “I hope these findings encourage those who are interested to learn more and engage in what is a vibrant community.”