According to a new Nordvpn study, about seven in ten Americans, or 68% of study participants, reported fear of cryptocurrency. However, a similar number (69%) of all respondents also “understand what cryptocurrency is.” 

NordVPN’s Cybersecurity and Privacy Research Lab aims to move the world closer to Tim Berners Lee’s vision of an open and free internet. They analyze online threats and privacy risks to learn about problems, understand them, and find the right tools and methods to eliminate them. From time to time, they release study notes.

According to their latest study, while Americans are knowledgeable about cryptocurrencies, they still expressed concern about these digital currencies becoming “the standard for online purchases.” 

In addition, a breakdown of the risks found that 59% of respondents were aware that trading platforms and exchanges could get hacked. In addition, 57% said they were aware of a potential account takeover risk, while 56% knew phishing email messages alerting them to money changes intended to be used by criminals. 

Meanwhile, the report noted that consumers should learn more about cyber security concepts to protect themselves from cyber-attacks.

However, the study found that 32% of the 1,000 respondents who took part in the survey reported no awareness of the associated risks. The lack of understanding described in the report is a more significant and potentially more troubling trend that is a genuine and severe issue. 

According to the report, cryptocurrency holders or internet users should create stronger passwords since these are often the only barriers between hackers and our accounts online. Additionally, the study encouraged users to use VPNs that “protect internet traffic with layers of secure encryption.”