Most Americans Think Crypto Is Unsafe: Poll

The majority of Americans view cryptocurrency as an unsafe financial investment, according to a recent YouGov poll of more than 1,200 US citizens.

The survey revealed that 55% consider it to be either very or somewhat unsafe, with only 18% describing it as safe.

Furthermore, even those who already own cryptocurrencies are almost as likely to view it as an unsafe as those who are yet to buy digital assets. 

The results also suggest that many Americans would like the US government to ramp up crypto regulation. A total of 46% said they supported such regulation — including 55% of Democrats and 50% of Republicans.

The results from this YouGov poll suggest that many Americans understand the risks associated with cryptocurrency investments, but also recognize potential for development within the industry provided increased government regulation is put in place. As government agencies continue to grapple with how to police these markets, it remains uncertain whether future legislation will be able to provide consumers with enough protection to encourage further growth of crypto. 

Notably, the majority of Americans (66%) have also heard about the arrest of disgraced FTX founder Sam Bankman-Fried. Most of the poll respondents think that Bankman-Fried will and should be convicted for his actions and have an unfavorable view of him overall — particularly older Americans and those currently involved in the crypto market.