Top 10 most Googled questions about cryptocurrency and its implication
What people end up searching for on Google provides raw insights into their true state of mind, often revealing their range of interests, fears, and other emotions about a particular topic. To identify investor sentiment in a bear market that has yet to bottom out, Cointelegraph dug deep into the web to find the most Googled questions about cryptocurrencies.
The top 10 Google searches related to cryptocurrencies show an increase in curiosity among ordinary investors – represented by two “whys,” three “whats,” and five “hows.” Let’s browse the most relevant Google searches for cryptocurrencies from highest to lowest.
what is cryptocurrency
Even after 13 years of disrupting traditional finance, the top question regular investors ask Google is “what is cryptocurrency.” With a global search volume (GV) of 256,000, this Google search dwarfs the second-largest crypto-related Google search by nearly five (4.7) times.
This shows that there is a gap – and a broad scope – in educating the general public about cryptocurrencies. However, despite the apparent conflict of interest, crypto entrepreneurs from around the globe put their differences aside and agree that educating the masses about crypto can be a catalyst for mainstream adoption.
what is cryptocurrency
Surprisingly, the second most Googled question on cryptocurrencies is just an iteration of the number one question that reads “What is a cryptocurrency.” The issue recorded a GV of 54,000, which, combined with its predecessor, reinforces the case for educating the masses about cryptocurrency.
The wh-issue highlights the lack of understanding among the general public and the need to shorten the learning curve for new and aspiring investors.
How to invest in cryptocurrencies
The third most popular Google search was the first investment-related question, “how to invest in cryptocurrencies.” With a GV of 44,000, a Google search of the question suggests that interest in crypto investing is on the rise despite a prolonged bear market.
These keywords also underscore the need to simplify the process of investing in cryptocurrencies. This means redesigning trading platforms to make them more intuitive for new investors switching from traditional finance.
What is Crypto Mining
Ranked fourth with a GV of 37,000 is Google Search, and surprisingly, when diving into the crypto ecosystem, the most natural progression is “what is crypto mining.”
Investors with a basic understanding of the crypto ecosystem tend to try mining as a means of earning passive income through cryptocurrencies. The idea of repurposing old computers to earn cryptocurrency by supporting a network is a popular search, associated with the early days of cryptocurrency. However, off-the-shelf mining equipment allows novice miners to see crypto mining as a viable career.
How to buy cryptocurrency
Given the growing popularity of cryptocurrencies, the search for “how to buy cryptocurrency” ranks fifth among the most searched crypto-related keywords on Google. A GV of 36,000 shows a clear interest in buying cryptocurrencies.
Bear markets are often seen as the perfect timeline for making high-yield investments. Given the price drop, both existing and new investors are racing to identify such investments as the market prepares to resume a bull run.
Why are cryptocurrencies crashing
The fallout from the prolonged bear market seeped into top Google searches as investors try to find an answer to the question “why did cryptocurrencies crash”. The 2022 bear market has proven disastrous for several crypto ecosystems, evaporating millions of dollars overnight. As a result, the GV for a Google search was 33,000.
The continued free fall in prices, coupled with the absence of significant support to cushion the decline, has generated negative investor sentiment across the globe. However, despite the losses, inflation in traditional finance has forced investors to reconsider Bitcoin (BTC) and other popular cryptocurrencies as a hedge against purchasing power.
How cryptocurrencies work
A fundamental question asked by investors today – “how do cryptocurrencies work” – is the seventh most Googled question on cryptocurrencies with a GV of 27,000.
In the wake of the huge losses, the public has had mixed views on the inner workings of crypto projects. Understanding how cryptocurrencies (or specific crypto projects) work can help uncover the hidden risks of investing.
Why cryptocurrencies are falling
As popular projects like Polygon keep making headlines for service outages, the public asks, “Why is cryptocurrencies down,” leading to a GV of 21,000.
As projects are forced to stop withdrawals and freeze funds for various reasons, investors tend to look to the internet for answers. Searches into the top 10 showed an unprecedented increase in service shutdowns. Untimely service and blockchain shutdowns are the main drivers of negative investor sentiment.
How to create a cryptocurrency
For many people, the idea of creating, marketing and selling their own cryptocurrency seems better than investing in something created by others. “How to create a cryptocurrency” is the ninth most searched term on Google in the crypto space with a GV of 14,000.
Offline services now allow anyone to launch their own tokens. However, simply launching a cryptocurrency without targeting service use cases is doomed to fail in the long run.
How to trade cryptocurrencies
Last on Google’s list of top 10 questions is “How to trade cryptocurrencies” with a GV of 13,000. Despite the growing mainstream of cryptocurrencies, investors continue to research new ways to trade cryptocurrencies.
Depending on the jurisdiction, crypto platforms have begun offering services tailored to meet the region’s regulatory requirements. Therefore, investors must research to determine the most suitable platform for crypto trading, while ensuring compliance with local laws.