27% Feel Safe with Two-Factor Authentication? The Precarious Security Perception of Cryptocurrency Users
A survey on the security perceptions of cryptocurrency users.
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- 📰 Published: March 29, 2026 at 21:10
Clabo Inc. (Headquarters: Minato-ku, Tokyo; Representative Director: Ikuma Ueno) has conducted an awareness survey on the "trustworthiness of cryptocurrency exchange security" among 507 men and women nationwide.
The survey results revealed that users' criteria for judging the security of an exchange are not based on "cutting-edge security technology," but are skewed toward visible operational systems such as "two-factor authentication (27.0%)" and "track record of handling past incidents."
In particular, the fact that Coincheck, which experienced a large-scale incident in the past, ranked first in security satisfaction (14.2%) suggests that Japanese investors rely more on "sincere post-incident response" than on "technical infallibility" as a basis for trust.
This report highlights the nature of the "vague anxiety" felt by approximately 40% of investors and the true structure of trust they seek from platforms.
■ Survey Overview
Survey Date: February 24, 2026
Survey Method: Internet survey
Survey Targets: Men and women living in Japan (regardless of cryptocurrency investment experience)
Valid Responses: 507
Conducting Organization: Clabo Inc.
Exchange Usage Status
Of the survey participants, 37.9% (192 people) currently use a cryptocurrency exchange.
The existence of a group that used to use them but no longer does (92 people, 18.1%) suggests that factors other than security, such as fees, features, customer service, and market trends, also influence the decision to continue usage.
Additionally, 44.0% (223 people) have never used an exchange. Many in this group cite reasons such as "anxiety about security" and "fear of the risk of being hacked," which may be a barrier to market expansion.
Exchanges Currently in Use (Multiple answers allowed)
When asked about currently used exchanges with multiple answers allowed, Coincheck was the most used at 21.3% (108 people), followed by GMO Coin at 19.9% (101 people), bit...