(NewsUSA) – According to the inaugural Crypto Literacy Survey, 96% of Americans failed a cryptocurrency literacy quiz, which tested knowledge on cryptocurrency basics, bitcoin, De-Fi, blockchain, mining, types of wallets, non-fungible tokens (NFTs), and general views on digital currencies.
The quiz was developed by Cryptoliteracy.org, a collaboration between Coinme, CoinDesk, and Digital Currency Group, as part of a consumer education initiative.
The quiz was sent to 1,000 cryptocurrency or bitcoin-aware internet users in the US, Mexico, and Brazil, with a low pass rate of 4% in the US and 99% in Brazil and Mexico.
However, despite low scores, 30% of Brazilians and 28% of Mexicans intend to buy or sell cryptocurrencies in the next six months, compared to 12% of Americans.
Cryptocurrency owners scored higher on the quiz and were mainly male, younger, and wealthier. Younger generations in the United States are nearly three times more likely to use cryptocurrency as a means of payment, whereas older generations tend to view it as an investment.
Consumers globally can take the Crypto Literacy Quiz online to test their knowledge, with the opportunity to improve their skills through tailored courses provided by CoinDesk.