What people search on Google can provide a general insight into how they really think. These searches often reveal their interests, fears, and a wide range of feelings about a particular topic.
The article you read below is based on a report It’s written from the website CoinTelegraph, where it scoured the internet to find the most frequently asked questions (in English) by users about digital currencies. This will help us understand the sentiments of investors in the middle of a bear market that has not yet reached its end.
A review of the 10 most searched digital currency questions on Google shows an increase in curiosity among the investing public. In the following, we examine these popular questions in order from the most to the least searched.
1. What is digital currency?
After 13 years of disrupting the traditional structure of the financial industry, the most popular question users ask Google about digital currencies is still “What is digital currency?” With 256,000 searches worldwide, this question is asked 4.7 times more than the second question about digital currencies on Google.
The frequency of this question shows a wide gap in educating people about digital currencies. Entrepreneurs in this industry have put aside their differences despite the obvious conflict of interest. They agree that educating people about digital currencies can be an accelerator in mainstream adoption of these assets.
2. What is Crepito?
Incredibly, the second most frequently asked question about cryptocurrencies on Google is just a repeat of the first question asking “what is crypto”. If we combine the 54,000 global searches of this question with the previous question, it emphasizes the importance of educating people about digital currencies.
Questions that end with “what” highlight the lack of knowledge among the public and the need to shorten the learning curve for new and interested investors.
3. How to invest in digital currencies?
The first investment-related question that ranks third among the top 10 most searched questions about digital currencies is “How to invest in digital currencies.” Despite the prolonged bear market, 44,000 Google searches for this question indicate that interest in investing in digital currencies continues.
Also, searching for this key phrase shows the need to simplify the process of investing in digital currencies. This requires redesigning trading platforms to make them more comprehensible to new investors coming from the traditional financial industry.
4. What is digital currency mining?
The fourth place with 37,000 searches on Google is dedicated to a question that surprisingly arises after deep learning of the ecosystem of digital currencies; “What is digital currency mining”.
Investors with a basic understanding of the ecosystem are interested in trying mining as a means of passively earning cryptocurrency. The idea of reusing an old computer to earn money using the Internet has been part of popular searches among users since the first days of digital currencies.
However, the advent of ready-made and powerful mining machines allowed novice miners to consider cryptocurrency mining as a permanent job later on.
5. How to buy digital currency?
The growing popularity of this industry has made the phrase “how to buy digital currency” take the fifth place out of the top 10 most searched questions about digital currencies. About 36,000 global searches for this phrase on Google are a sign of an obvious interest in buying digital currencies.
Most people consider bear markets to be the best time to invest with high returns. The recent drop in prices and the possibility of the return of the upward trend to the market have caused the current investors to compete in a way to identify suitable investment opportunities.
6. Why are digital currencies falling?
33,000 investor searches for the answer to the question “why are cryptocurrencies falling” show the impact of prolonged bear markets on Google searches. The bear market of 2022 was disastrous for several cryptocurrency ecosystems, wiping out millions of dollars overnight.
The continued fall in prices with no clear signs of stopping it caused negative sentiment among investors around the world. However, inflation in the economy has made investors re-examine Bitcoin and other cryptocurrencies as a hedge against declining purchasing power.
Also Read: Can Bitcoin Price Be Predicted By Analyzing Google Searches?
7. How do digital currencies work?
With 27,000 searches on Google, this basic question of “how digital currencies work” is the seventh most frequent phrase that users are looking for an answer to regarding digital currencies.
After experiencing massive losses, the general public has a different view of how a digital currency project works. Understanding how digital currencies (or a specific project) work will help uncover hidden risks in investing.
8. Why do digital currencies fail?
The existence of permanent problems in the network of popular projects like Polygan has caused the phrase “why digital currencies fail” to be searched 21,000 times by people on Google. Stopping withdrawals and blocking funds for various reasons by projects has led investors to find the answer to this question.
The unprecedented increase in the failure of blockchain networks during this period has been one of the main reasons for creating negative feelings among investors and placing this question among the 10 most frequently asked questions about digital currencies on Google.
9. How to make digital currency?
The idea of creating, marketing and selling a digital currency is more attractive to many people than investing in something created by someone else. “How to make digital currency” is the ninth most frequently asked question about digital currencies with 14,000 searches.
Currently, there are services that allow anyone to launch their own token. However, creating a digital currency without a specific application (except for fraud of course!) will fail in the long run.
10. How to trade digital currency?
The last question in the list of 10 most frequently asked questions by users on Google with 13,000 searches is “how to trade digital currency”. Despite the growing popularity of cryptocurrencies as mainstream, investors continue to look for new ways to trade cryptocurrencies.
In recent times, digital currency exchanges have begun to offer services tailored to the regulatory requirements of various jurisdictions. As a result, investors are Googling the term to identify the most appropriate platforms for conducting cryptocurrency transactions and ensuring compliance.