Crypto’s real barrier isn’t trust, it’s understanding

For years, crypto headlines have fixated on trust issues: fraud, volatility, and the few bad actors who’ve given crypto a Wild West reputation. But the National Cryptocurrency Association’s new 2025 Crypto Confidence Pulse—a Harris Poll survey of Americans who don’t currently hold any crypto—reveals something more fundamental is holding people back: a knowledge gap.

Almost 90% of non-holders said they don’t feel knowledgeable about buying, trading, selling, or even using crypto. And 49% cited a lack of understanding as the main reason they’re unlikely to engage with the technology in the future.

Despite crypto’s increased visibility in popular culture, media, and markets, confusion still reigns. Perhaps the clearest sign of confusion among non-holders is this: About 41% say they don’t know who or what is “backing” crypto—despite the fact that its core feature is that it has no central backer at all, and 55% admit that researching the space simply feels overwhelming.

Non-holders aren’t rejecting crypto outright; many are simply unsure what to think—overwhelmed by jargon, unclear about practical uses and crypto’s capabilities. In fact, nearly a quarter of non-holders said they would consider using crypto if they could pay for goods and services with it—something that’s already possible today.

The barrier to entry can be overcome through education.

Confusion is the real risk

That lack of understanding creates space for fear to grow. When people can’t easily grasp how something works, trust becomes harder to build, no matter how good the underlying technology might be.

Security concerns (43%), distrust of platforms (36%), and persistent misperceptions around scams and hacks continue to cloud public opinion. Even for those who are interested in crypto, nearly one-third still say they’re unsure where to begin, according to our study.

For crypto to fulfill its promise as a more inclusive, accessible, and innovative tool, the industry must provide clarity, not just code. That means education that is simple, transparent, and tied to the real-world benefits crypto can offer—today.

But here’s where the data gets especially insightful: Non-crypto holders are not a monolith. The survey identifies five distinct personas, each with unique motivations, anxieties, and opportunities for engagement:

  • The Curious: Already talking about crypto with friends; almost half (42%) of this group is likely to acquire crypto this year
  • The Trendwatchers: Watching from the sidelines and intrigued, but need more real-world examples of crypto in action
  • The Skeptics: Seeking proof, safety, and oversight, this cohort is most concerned about security, scams, and the perceived instability of the space
  • The Traditionalists: Prefer legacy systems like banks and credit cards and need clear reasons why crypto matters to their day-to-day
  • The Cautious: Unsure where to start and worried they’ve already missed the boat, but open to learning more from trusted sources

A one-size-fits-all approach to crypto education won’t cut it: Each group needs a different message. The Curious may benefit from more practical guidance around how to set up a wallet or navigate different types of tokens. Trendwatchers may be most influenced by seeing more retailers they know and love starting to accept crypto payments. Skeptics need assurance, which will likely come in the form of policy decisions. Traditionalists need to understand how crypto and traditional finance work together. The Cautious will likely need help cutting through the hype and jargon.

If we want to close the knowledge gap, we need to start by knowing our audience.

Advance regulation without stifling innovation

We also can’t ignore the role of regulation. This isn’t just a policy matter—it’s a consumer protection issue.

Clear, smart rules can help demystify the landscape and signal that this is a legitimate, secure space to engage. Until policymakers and industry leaders work together to provide consistent guardrails, uncertainty will continue to cloud perception.

Crypto has long been misperceived as a “trustless” system. But in reality, its adoption hinges on trust: People need to understand the technology before they can trust it—and they need someone they trust to help educate them.

Education is the infrastructure. And if the crypto industry wants to build for tomorrow, it’s time to lay that foundation today.

Stu Alderoty is president of the National Cryptocurrency Association.

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