A recent survey conducted by GoMining has uncovered a significant knowledge gap among Bitcoin users. Despite its value exceeding one trillion dollars, most users are unsure about its functionality.
Low Understanding Level Among Bitcoin Users
Only about 34% of respondents felt 'very confident' in their understanding of the Bitcoin ecosystem. Just 9.6% reported that they could explain Bitcoin to a friend and 'sound like a pro.' Most users admitted to grasping only the basics or being unable to articulate how the cryptocurrency works.
Main Difficulties Faced by Users
When asked about their biggest confusion, 28.2% of respondents stated they don’t understand how Bitcoin mining works. 26.5% didn’t know when to buy or sell, while 22.2% pointed to technical terms as a barrier to understanding.
Demand for Improved Learning Formats
Users are asking for more understandable learning formats. 36.6% of respondents requested step-by-step guides, 33.4% preferred real-world case studies, and 30.8% wanted short explanatory videos. Only 26.1% believed that simple, non-technical explanations would be helpful.
The low level of understanding of Bitcoin among users remains a concern that could inhibit its adoption. Educational resources need to become more accessible and comprehensible to facilitate broader acceptance of cryptocurrency.
