90% Citizens of El Salvador don’t know crypto financial assets : Survey

70% citizens of El Salvador don’t support Bitcoin law and the main reason is not to support it because they don’t have knowledge of crypto.

The decision of Nayib Bukele, president of El Salvador, was praised and criticized by many but the people of their own country’s citizens are not fully supporting Bitcoin law because of the poor knowledge about crypto. Here this situation seems dramatic because only those Salvadorians are supporting those who know about the crypto and others are not because they don’t understand about crypto, even mr. Nayib Bukele said that there are a number of branches in the different locations in the country where people can understand how to deposit and get knowledge on how to use them in a simple way through the use of Chivo wallet.

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A latest Survey conducted by the local Central American University’s (UCA) Institute of Public Opinion, revealed that 70% of the Citizens of El Salvador think that President Nayib Bukele should again think about the Bitcoin law and should be repealed.

But here it is worth noting that 90% of the respondents admitted that they have no sufficient knowledge about crypto that is why they think that Bitcoin law is not going to give better results.

The institute reported that only 7.64% are in favour of Nayib Bukele’s decision, which is the smallest rating so far.

Survey also revealed that 45% of the respondents believed that unemployment and poverty are necessary matters instead of bitcoin law. And 43% believe that Bitcoin law will bring the worst situation for the economy of the country.

Poll also revealed that around 20% of the citizens don’t know what bitcoin is and 70% admitted that they have very poor knowledge about cryptocurrency.

 “In other words, nine out of 10 Salvadorans have no clear knowledge of what this financial asset is.” 

A similar kind of survey was also conducted in July 2021, where 20% of Salvadorians supported Nayib Bukele’s decision to adopt bitcoin as legal currency.

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