Survey: 70% of Bitcoin Users Have No Idea How It Works
Bitcoin users don’t understand how Bitcoin actually works. A new survey by Bitcoin mining platform GoMining shows a surprisingly large knowledge gap among crypto users, one that may be slowing mainstream adoption. Despite being valued at over a trillion dollars, Bitcoin is still a mystery for most of its users. The GoMining survey, conducted among over 2,600 respondents across North America and Europe, found that more than 70% of Bitcoin users don’t feel confident explaining how it works.

In Brief
- A GoMining survey found that over 70% of Bitcoin users don’t fully understand how it works.
- Users struggle most with mining, technical jargon, and knowing when to buy or sell.
- Most want clear step-by-step guides, videos, or real-life examples to better learn Bitcoin
Crypto interest is high, but understanding is low
Only 34% of respondents said they felt “very confident” in their understanding of the Bitcoin ecosystem. Even fewer, just 9.6%, said they could explain Bitcoin to a friend and “sound like a pro.” Most admitted they either only grasp the basics or wouldn’t know what to say at all. The lack of understanding creates emotional friction and slows participation. Users cited confusion from conflicting online information and frustration over the technical nature of crypto education.
Biggest pain points
When asked what confused them the most:
- 28.2% of respondents said they don’t understand how Bitcoin mining works.
- 26.5% said they didn’t know when to buy or sell.
- 22.2% pointed to technical terms as a barrier.
Even among active users, basic concepts like supply limits, network security, and wallet infrastructure remain unclear.
What people actually want
Instead of abstract definitions or whitepapers, users want better formats for learning:
- 36.6% asked for step-by-step guides.
- 33.4% prefer real-world case studies.
- 30.8% want short explainer videos.
- Only 26.1% said simple, non-technical explanations would help.
These preferences point to a clear problem: crypto is still too hard to learn. And unless education becomes more accessible, adoption will continue to stall, even if prices keep rising. With institutional interest in Bitcoin growing, the industry now faces a new challenge.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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