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November is Crypto Literacy Awareness Month: New Report Shows 98% Fail a Basic Crypto Quiz – Test Your Knowledge

November is Crypto Literacy Month, a newly launched initiative to drive greater consumer education about cryptocurrencies in general. As part of its inaugural launch, organizers also shared new survey results that found 98 percent of respondents failed to pass a 17 question quiz regarding basic crypto concepts. The program has backing from a group of major crypto players, including Coinme and CoinDesk.

"In cryptocurrency we have an opportunity to do better and Crypto Literacy Month is really focused on creating that space to focus on education and awareness regarding the fundamentals of digital currency and blockchain technology," 

said CEO and Co-founder of Coinme and Crypto Literacy Month, Neil Bergquist, during a phone interview with me.

"The goal is to really help people understand the underlying value of digital currency beyond what they may read in the headlines, which can be confusing and lead to false assumptions."

Crypto Literacy Month is held each November – and this is its debut. Every week in November, cryptoLiteracy.org will highlight a specific topic in crypto, starting with Bitcoin. Subsequent weeks will focus on non-fungible tokens (NFTs), decentralized finance (DeFi), and important security basics every crypto investor should know. 

Additionally, CrypoLiteracy.org is also the home of the official Crypto Literacy Quiz. Readers can take the quiz to gauge their cryptocurrency knowledge, or lack thereof. Bergquist says one way they’ll measure the success of this educationally focused campaign is driving home the importance of owning cryptocurrencies. 

"We found in the survey results that people who own cryptocurrencies scored higher than those who were not owners of crypto. That reinforces a saying we have within the space - 'The best way to learn about Bitcoin is to buy it.' If we can help people understand the value of digital currency and how it works, they'll be able to take advantage of its benefits, while reducing their risks," 

he told me.

On The Flipside

  • The main sponsors of Crypto Literacy Awareness Month are Coinme, Coindesk, and the Digital Currency Group. 
  • The Digital Currency Group has deep investments in both Coinme and Coindesk.
  • Despite those investments, there’s no conflict of interest in this innovative educational project.

Why You Should Care?

We should all be committed to life-long learning. Crypto Literacy Awareness Month provides free educational resources that we can all benefit from. 

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Tor Constantino is a former journalist, consultant and current corporate comms executive with an MBA degree and 25+ years of experience - writing about cryptocurrencies and blockchain since 2017. His writing has appeared across the web on Entrepreneur, Forbes, Fortune, CEOWorld and Yahoo!. Tor's views are his own and do not reflect those of his current employer.