A new Nordvpn study found that 78% of Americans (or 68%) were aware of the potential dangers of cryptocurrency. A similar number of respondents (69%) also understood cryptocurrency, according to the study.
The majority of Americans surveyed expressed concern about the possibility that cryptocurrencies would ‘become the standard for online shopping’ despite being well-versed in the subject.
The study also revealed that 59% of respondents knew that trading platforms or exchanges could be hacked. Around 57% of respondents said they knew about the possibility of an account takingover. 56% were aware that phishing emails and texts could alert them to a possible change in funds.
The report praised the high levels of crypto awareness and said that ‘the better prepared consumers are to protect themselves from cyber threats, they will be’.
A troubling trend
However, 32% of the 1,000 participants in the survey did not disclose any awareness of the risks. This lack of awareness is described in the study report as a problem that’s not only real but also part of a larger and potentially more worrying trend.
The report stated that “The real problem is that many people in America and elsewhere have poor understanding of online risk in general.”
The report concluded by urging cryptocurrency holders and internet users to make stronger passwords, as they are often the only thing that can stop hackers from accessing our online accounts. Users are also advised to use VPNs that ‘protect their internet traffic with layers and powerful encryption.