National Cryptocurrency Association Finds Many Americans Remain Confused About Digital Assets

Today, the National Cryptocurrency Association (NCA), a nonprofit organization dedicated to helping Americans understand and use crypto with confidence, released insights from a Harris Poll survey of Americans who do not hold any crypto. The 2025 Crypto Confidence Pulse showed that despite its growing visibility, lack of understanding is the primary reason that four out of five U.S. adults do not yet hold any crypto.

NCA had previously conducted the largest ever survey of Americans that do hold crypto and found that the majority of them believe that crypto has had a positive impact on their lives. This latest survey finds that those who have yet to dip their toes into crypto are hesitant for a variety of reasons:

• Nearly 90% said they are not knowledgeable about buying, using, selling or trading crypto and almost half (49%) cited lack of understanding of how crypto works as the biggest barrier to entry
• Trust is another blocker: 43% are concerned about security and fraud with 36% lacking trust in crypto platforms and exchanges
• There’s also confusion around crypto’s core feature, namely that it has no central actor: 41% say they don’t know who or what is “backing” crypto assets
• Overall, only 18% say they are likely to acquire crypto in 2025

"Crypto’s biggest barrier is comprehension,” said Stuart Alderoty, President of the NCA. “For most Americans, crypto still feels confusing. Nearly one-quarter of non-holders said they would use crypto if they could pay for goods and services with digital assets, but they already can do these things (and more) – they just don’t realize it. This is a call to action that we must demystify the technology and build trust through education, which is our mission at the NCA.”

The report identifies five distinct personas among non-holders, from Curious and Cautious to Trendwatchers, Traditionalists and Skeptics. While each group varies in demographics and motivation, common themes emerge: unfamiliarity, fear of scams, and a perceived lack of practical use cases:

• Fewer than one in five see crypto as a secure or good long-term investment
• Over half of respondents find researching crypto “overwhelming”
• Only 14% have ever discussed crypto with family or friends – but those who did are more open to using crypto

Despite increased visibility, literacy around crypto fundamentals remains limited. While only 14% of non-holders believe crypto is a scam and just 10% see it as a passing fad, misperceptions about fraud, hacking, and not knowing who or what is “backing” crypto assets continue to shape public perception. In reality, just 3% of holders reported negative experiences with crypto, and of these, less than a third had experienced fraud or security breaches personally – that’s less than 1%.

To respond to these concerns, the NCA is launching a new video series to provide clear, fact-based answers to common crypto questions and myths. These resources are part of the organization’s broader effort to increase understanding and build confidence through accessible, trustworthy information.

As for reaching non-holders, opportunity exists. Nearly one in three have considered using crypto, and 34% are interested in learning more, especially if information is simplified and tied to tangible benefits. When looking at those interested in learning more, we heard that:

• While the industry is still fairly nascent, one in two worry they may have missed the boat on crypto
• Despite this, 68% are curious about using crypto but are not sure where to start
• The majority (80%) see crypto as a legitimate financial asset
• Almost half (42%) of this cohort are likely to acquire or use crypto in 2025

About the National Cryptocurrency Association

The National Cryptocurrency Association (NCA) is a 501(C)(4) organization dedicated to educating consumers about how to engage with crypto. Crypto is positively impacting the lives of millions of Americans but misinformation has held back those who stand to benefit. The NCA is here to help people make sense of crypto by sharing the stories of real people and businesses using crypto, providing educational resources to navigate the hype and confusion, and offering guidance and support through partnerships and services.

Methodology

The research was conducted online in the United States by The Harris Poll on behalf of The National Cryptocurrency Association among 2,000 non-cryptocurrency holders. The survey was conducted May 22, 2025 through May 30, 2025.

Data are weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, employment, household income, and political party affiliation to bring them in line with their actual proportions in the population.

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within ± 2.9 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.

All sample surveys and polls, whether or not they use probability sampling, are subject to other multiple sources of error which are most often not possible to quantify or estimate, including, but not limited to coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments.

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