68% of Americans Aware of Risks Involved With Cryptocurrencies – Security Bitcoin News

Nordvpn’s new survey found that nearly seven in ten Americans surveyed were well aware of the risks associated with cryptocurrency. Only 32% said that they weren’t aware of any potential risks.

Understanding Cryptocurrencies

Nordvpn’s new study found that 78%, 68%, of Americans were informed about the potential risks associated with cryptocurrency. The study also found that an almost identical number (69%) of all the respondents “had some understanding of what cryptocurrency is.”

Despite being knowledgeable about cryptocurrencies, the surveyed Americans still expressed their uneasiness over the prospect of these digital currencies “becoming the standard for online purchases.”

A breakdown of risks revealed that 59% of respondents knew that exchange trading platforms can be hacked. 57% were informed of the danger of an account being taken over, 56% of them are alerted by phishing messages or texts alerting of possible changes to funds.

Meanwhile, in commending the observed high crypto awareness levels, the report said “the more understanding individual consumers have of cyber threats, the better equipped they’ll be to protect themselves.”

The Troubling Trend

On the other hand, the study also found that some 32% of the 1,000 respondents that took part in the survey “did not report any awareness of the associated risks.” The study report describes this lack of awareness as not only “a real problem” but part of a bigger and possibly more troubling trend.

“The real issue is that many people in the wider population, in the U.S. and beyond, have a poor understanding of online risks in general,” the report explained.

In conclusion, the report urged cryptocurrency holders or internet users to create stronger passwords as these are “often the only things standing between hackers and our online accounts.” The report also encouraged users to use VPNs which “protect internet traffic with layers of powerful encryption.”

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. He is a prolific writer on the economic woes of African countries, as well as digital currencies that can be used to provide an escape path for Africans.