Cryptocurrency Suspicious? Honest Opinions from 1,486 People and the Wall of "Misunderstanding"
A survey by Clabo Inc. revealed that the biggest reason many people find cryptocurrency "suspicious" is a "lack of understanding of its mechanisms." Generational differences in anxiety factors were observed, suggesting the need for industry-wide educational content.
📋 Article Processing Timeline
- 📰 Published: April 3, 2026 at 19:10
Clabo Inc. (Headquarters: Minato-ku, Tokyo, Representative Director: Ikuma Ueno) conducted a survey on the awareness and generational image of crypto assets targeting 1,486 men and women nationwide.
The results showed that the most common answer was "suspicious because the mechanism is not well understood (23.3%)," revealing that cognitive misunderstanding is the biggest barrier to investment, even more so than price fluctuations or scams.
Investment experience accounted for about 30% of the total, and many in the non-entry group are seeking practical defensive information such as "how to choose a safe exchange (44.4%)" and "how to identify scams."
This report analyzes in detail the factors of anxiety and information contact channels that differ by generation, and presents the necessity of educational content that the industry should address to dispel the preconception of "suspiciousness."
[Link to full report: Check the complete version of the survey results]
■ Survey Overview
Survey Conducted: February 24, 2026
Survey Method: Internet survey
Target Audience: Men and women residing in Japan
Effective Responses: 1,486
Executing Organization: Clabo Inc.
■ Survey Content
Awareness and Knowledge Level of Crypto Assets
First, we asked how much people know about crypto assets. "Vaguely know" was the most common at 41.7% (619 people), followed by "know well, including the mechanism" at 24.1% (358 people).
On the other hand, "only know the word" was 23.4% (347 people), and "hardly know" was 10.9% (162 people).
There is a large gap between "knowing" and "being able to explain," indicating that a majority of users have heard the name but have not reached a level where they can explain the actual mechanisms to others.
Investment Experience Reality | 1 in 2 People Still Not Participating
When asked about investment experience in crypto assets (virtual currency), "no investment experience" was the most common at 50.6% (752 people). Those currently investing accounted for only 33.7% (501 people), and those who had invested in the past but stopped accounted for 15.7% (233 people).
Although the domestic crypto asset market has been growing rapidly, it has become clear that many potential investors are still outside the market.
The fact that many people "know but don't do it" suggests that information and image barriers are acting as obstacles to action.
Many people still seem to have a "somewhat suspicious" feeling about "virtual currency = suspicious."
What is its true nature? Let's explore the reasons for your anxiety together.
Reasons for Feeling "Suspicious" Ranking (Multiple Answers)
We asked for the reasons why people feel crypto assets are "suspicious, or rather suspicious," with multiple answers allowed.
The most common reason was "it's difficult to understand the mechanism, so I don't get it" (23.3% or 346 people), followed by "price fluctuations are too severe" (21.1% or 314 people) and "I often hear about scams" (19.2% or 286 people).
"It gives the impression that laws and rules are not well-established" (14.3% or 213 people), "I don't understand the exchanges/services" (9.2% or 137 people), "I saw suspicious solicitations on social media" (8.0% or 119 people), and "few people around me are doing it" (7.7% or 115 people) were also cited as reasons.
What is noteworthy is the "lack of understanding of the mechanism" that ranked first. The fact that cognitive anxiety, such as "I don't understand it," is the biggest barrier, more so than objective risks like price fluctuation risk and scam damage, serves as an important signal that educational content for the entire industry is indispensable.
Cross-Analysis of "Suspicious" Awareness by Generation
Reasons for feeling "suspicious" vary by generation. Gen Z, digital natives, have many opportunities to encounter solicitations and scam information on social media, and while possessing SNS literacy, they also hold a cautious eye towards crypto assets.
On the other hand, for the Bubble generation and Shin-jinrui generation, the barrier of "difficulty in understanding the mechanism" is the highest from the outset, requiring a trigger for entry.
Millennials (Gen Y) have the highest proportion of investors and a large number of people who are active in information gathering.
Information Contact Locations for Crypto Assets
When asked where they encountered information about crypto assets in the past month (multiple answers), "news sites" were the most common at 38.4% (571 people), followed by "SNS" at 36.7% (546 people), "YouTube" at 31.6% (469 people), and "TV" at 31.2% (463 people).
"Rarely saw or heard" accounted for only 15.8% (235 people), indicating that many people are exposed to information about crypto assets in some form.
Furthermore, for information gathering for investment decisions, "YouTube" was the top at 27.0% (401 people), followed by "news sites" at 18.1% (269 people) and "SNS" at 17.0% (253 people).
Ranking of Information Needed to Alleviate Anxiety (Multiple Answers)
Experience Years and Entry Motives Among Investors
What the Industry Should Do to Dispel the Suspicious Image
Behavioral Characteristics of Investors | Initial Small Amounts & Long-Term Accumulation are Mainstream
Summary
Including the above content, please check the article body for the detailed survey report.
[Link to full report: Check the complete version of the survey results]
■ Disclaimer Regarding Crypto Asset Investment
This report is for informational purposes only and does not constitute any investment solicitation or advice. Crypto asset investment carries high risks, and investment decisions should be made at your own risk. We provide no guarantees regarding the accuracy, completeness, or usefulness of the content of this report. Final investment decisions should be made at your own discretion, and you should seek advice from a professional if necessary.
Furthermore, Clabo Inc. offers services such as wallet recovery, security measures, preservation procedures, and consultations regarding crypto assets.
If you have any concerns regarding crypto assets, please utilize our initial free consultation service.
You can also consult about troubles including scams, but please also consider using the following public/administrative consultation services.
■ Consultation Services for Experts and Public Institutions
Consultation with Clabo (Initial Free): [https://www.clabo-inc.co.jp/contact]
Police Consultation Dedicated Phone: #9110
Consumer Hotline: 188
Consultation Dial for Fraudulent Investments: 0570-050588
■ Regulations Regarding Citation and Reproduction
Citation and reproduction of this survey data are freely permitted as long as the following are cited as the source (including a link).
In cases of citation without a source link or detected data alteration, we may request removal or correction of the publication (DMCA claims, etc.) based on copyright protection.
Survey Operator: Clabo Inc. [https://www.clabo-inc.co.jp/]
Official Report: [https://www.clabo-inc.co.jp/media/articles/crypto-suspicious-generation-image-report-survey]
Press Release: [https://prtimes.jp/main/html/rd/p/000000013.000178703.html]
Consultation with Clabo (Initial Free): [https://www.clabo-inc.co.jp/contact]
■ Company Profile
Clabo Inc.
Location: 16F, Ark Hills South Tower, 1-4-5 Roppongi, Minato-ku, Tokyo 106-0032, Japan
Representative Director: Ikuma Ueno
Established: July 2025
X (formerly Twitter): [https://x.com/clabo_inc]
Keywords: Cryptocurrency, Virtual Currency, Investment, Survey, Questionnaire, Clabo Inc., Image Survey, Investment Beginners, Security, Literacy
The results showed that the most common answer was "suspicious because the mechanism is not well understood (23.3%)," revealing that cognitive misunderstanding is the biggest barrier to investment, even more so than price fluctuations or scams.
Investment experience accounted for about 30% of the total, and many in the non-entry group are seeking practical defensive information such as "how to choose a safe exchange (44.4%)" and "how to identify scams."
This report analyzes in detail the factors of anxiety and information contact channels that differ by generation, and presents the necessity of educational content that the industry should address to dispel the preconception of "suspiciousness."
[Link to full report: Check the complete version of the survey results]
■ Survey Overview
Survey Conducted: February 24, 2026
Survey Method: Internet survey
Target Audience: Men and women residing in Japan
Effective Responses: 1,486
Executing Organization: Clabo Inc.
■ Survey Content
Awareness and Knowledge Level of Crypto Assets
First, we asked how much people know about crypto assets. "Vaguely know" was the most common at 41.7% (619 people), followed by "know well, including the mechanism" at 24.1% (358 people).
On the other hand, "only know the word" was 23.4% (347 people), and "hardly know" was 10.9% (162 people).
There is a large gap between "knowing" and "being able to explain," indicating that a majority of users have heard the name but have not reached a level where they can explain the actual mechanisms to others.
Investment Experience Reality | 1 in 2 People Still Not Participating
When asked about investment experience in crypto assets (virtual currency), "no investment experience" was the most common at 50.6% (752 people). Those currently investing accounted for only 33.7% (501 people), and those who had invested in the past but stopped accounted for 15.7% (233 people).
Although the domestic crypto asset market has been growing rapidly, it has become clear that many potential investors are still outside the market.
The fact that many people "know but don't do it" suggests that information and image barriers are acting as obstacles to action.
Many people still seem to have a "somewhat suspicious" feeling about "virtual currency = suspicious."
What is its true nature? Let's explore the reasons for your anxiety together.
Reasons for Feeling "Suspicious" Ranking (Multiple Answers)
We asked for the reasons why people feel crypto assets are "suspicious, or rather suspicious," with multiple answers allowed.
The most common reason was "it's difficult to understand the mechanism, so I don't get it" (23.3% or 346 people), followed by "price fluctuations are too severe" (21.1% or 314 people) and "I often hear about scams" (19.2% or 286 people).
"It gives the impression that laws and rules are not well-established" (14.3% or 213 people), "I don't understand the exchanges/services" (9.2% or 137 people), "I saw suspicious solicitations on social media" (8.0% or 119 people), and "few people around me are doing it" (7.7% or 115 people) were also cited as reasons.
What is noteworthy is the "lack of understanding of the mechanism" that ranked first. The fact that cognitive anxiety, such as "I don't understand it," is the biggest barrier, more so than objective risks like price fluctuation risk and scam damage, serves as an important signal that educational content for the entire industry is indispensable.
Cross-Analysis of "Suspicious" Awareness by Generation
Reasons for feeling "suspicious" vary by generation. Gen Z, digital natives, have many opportunities to encounter solicitations and scam information on social media, and while possessing SNS literacy, they also hold a cautious eye towards crypto assets.
On the other hand, for the Bubble generation and Shin-jinrui generation, the barrier of "difficulty in understanding the mechanism" is the highest from the outset, requiring a trigger for entry.
Millennials (Gen Y) have the highest proportion of investors and a large number of people who are active in information gathering.
Information Contact Locations for Crypto Assets
When asked where they encountered information about crypto assets in the past month (multiple answers), "news sites" were the most common at 38.4% (571 people), followed by "SNS" at 36.7% (546 people), "YouTube" at 31.6% (469 people), and "TV" at 31.2% (463 people).
"Rarely saw or heard" accounted for only 15.8% (235 people), indicating that many people are exposed to information about crypto assets in some form.
Furthermore, for information gathering for investment decisions, "YouTube" was the top at 27.0% (401 people), followed by "news sites" at 18.1% (269 people) and "SNS" at 17.0% (253 people).
Ranking of Information Needed to Alleviate Anxiety (Multiple Answers)
Experience Years and Entry Motives Among Investors
What the Industry Should Do to Dispel the Suspicious Image
Behavioral Characteristics of Investors | Initial Small Amounts & Long-Term Accumulation are Mainstream
Summary
Including the above content, please check the article body for the detailed survey report.
[Link to full report: Check the complete version of the survey results]
■ Disclaimer Regarding Crypto Asset Investment
This report is for informational purposes only and does not constitute any investment solicitation or advice. Crypto asset investment carries high risks, and investment decisions should be made at your own risk. We provide no guarantees regarding the accuracy, completeness, or usefulness of the content of this report. Final investment decisions should be made at your own discretion, and you should seek advice from a professional if necessary.
Furthermore, Clabo Inc. offers services such as wallet recovery, security measures, preservation procedures, and consultations regarding crypto assets.
If you have any concerns regarding crypto assets, please utilize our initial free consultation service.
You can also consult about troubles including scams, but please also consider using the following public/administrative consultation services.
■ Consultation Services for Experts and Public Institutions
Consultation with Clabo (Initial Free): [https://www.clabo-inc.co.jp/contact]
Police Consultation Dedicated Phone: #9110
Consumer Hotline: 188
Consultation Dial for Fraudulent Investments: 0570-050588
■ Regulations Regarding Citation and Reproduction
Citation and reproduction of this survey data are freely permitted as long as the following are cited as the source (including a link).
In cases of citation without a source link or detected data alteration, we may request removal or correction of the publication (DMCA claims, etc.) based on copyright protection.
Survey Operator: Clabo Inc. [https://www.clabo-inc.co.jp/]
Official Report: [https://www.clabo-inc.co.jp/media/articles/crypto-suspicious-generation-image-report-survey]
Press Release: [https://prtimes.jp/main/html/rd/p/000000013.000178703.html]
Consultation with Clabo (Initial Free): [https://www.clabo-inc.co.jp/contact]
■ Company Profile
Clabo Inc.
Location: 16F, Ark Hills South Tower, 1-4-5 Roppongi, Minato-ku, Tokyo 106-0032, Japan
Representative Director: Ikuma Ueno
Established: July 2025
X (formerly Twitter): [https://x.com/clabo_inc]
Keywords: Cryptocurrency, Virtual Currency, Investment, Survey, Questionnaire, Clabo Inc., Image Survey, Investment Beginners, Security, Literacy
FAQ
What is the main reason for feeling cryptocurrency is suspicious?
The most cited reason is "difficulty in understanding the mechanism," indicating that cognitive barriers are greater than price volatility or scams.
Are there generational differences in how "suspiciousness" is perceived?
Yes. Gen Z is wary of SNS scams, the Bubble and Shin-jinrui generations find the mechanisms difficult, and Millennials tend to have more investment experience.
Where do people get information about cryptocurrencies?
Information is obtained from news sites, SNS, YouTube, and TV, with YouTube being the most common source for investment decisions.