Survey: more than half of El Salvadorans know nothing about cryptocurrencies

In early September, El Salvador enacted a law recognizing bitcoin as a legal tender. There have been talks about it since early summer, but the country’s population still knows very little about the first cryptocurrency. And even less about altcoins.

A survey conducted by Sherlock Communications of São Paulo among Salvadorans shows that 54% of respondents, when asked which cryptocurrency of the five most popular ones they know, chose the answer “none.”

Forty percent of respondents have heard something about bitcoin. Other cryptocurrencies – Ethereum, Litecoin, Dogecoin and EOS – are known to even fewer Salvadorans. The survey, experts emphasize, does not aim to study the depth of knowledge about cryptocurrencies.

In case the country is struck by the economic crisis, 35% will trust cryptocurrencies even less. On the contrary, 24% believe that in case of an economic crisis, they will take a closer look at cryptocurrencies as a way to survive it. 41% believe that the economic crisis will not affect their attitude toward digital currencies.