Survey Shows Three-Quarters of Americans Don’t Know an Iota About ICOs

A provider of student loan services just recently released a survey demonstrating that a majority of Americans do not know about the existence of ICOs.

Cryptocurrencies, blockchains, and ICOs are still relatively new concepts. Not everyone can be expected to carry conversations about them.

Proving that these are still nascent technologies is the fact that a survey by LendEDU—an online provider of student loan services—has demonstrated that just a smidge over 75 percent of Americans across various demographics had no idea they existed.

82.1 percent of respondents were either confident or unsure that ICOs were illegal.

Interestingly enough, Ether, the cryptocurrency that spurred the creation of ICOs, was more popular. Only 68.4 percent of respondents did not know about its existence.

“Overall, we found that 31.60 percent of respondents have heard of Ethereum, significantly lower than the 78.60 percent of respondents who had heard of Bitcoin in our poll from last month. That said, Ethereum was only released in 2015 and we were surprised to see such a large proportion of respondents answering Yes,” LendEDU wrote.

When splitting the demographics by age group, younger Americans (unsurprisingly) knew about cryptocurrencies like Ether and were even willing to invest a portion of their earnings in them.

The most dominant age group for Ethereum was between 25 and 34 years old, with 33.8 percent of them responding that they plan on investing in it as an asset for the future.

“Overall, we found that 18.20 percent of respondents reported that they are planning to invest in Ether (ETH) as an asset for the future,” the survey added.

The figure reported for Ethereum is a tad higher than the 17.8 percent of respondents who would invest in Bitcoin, according to the survey they did in September.

Investment in Ethereum could be risky, however, as even the projet’s co-founder went out and said that it’s a bubble.