El Salvador has made global headlines with its president's controversial introduction of Bitcoin (BTC) as legal tender — a move that has sparked dissent from many citizens and was met with skepticism past the International monetary fund. A new survey suggests that despite these developments, most El Salvadoreans still know little about the veteran cryptocurrency and even less well-nigh its smaller-market cap counterparts.

Inquiry conducted past the São Paulo-based bureau Sherlock Communications suggests that 54% of Salvadoran respondents chose 'none' when asked which cryptocurrency they knew all-time out of a list of 5 leading coins.

While 40% chose Bitcoin over the other listed cryptos — Ether (ETH), Bitcoin, Dogecoin (DOGE) and EOS — the survey did non seek to probe the level or depth of the knowledge these respondents have of the coin. In correspondence with Cointelegraph, Patrick O'Neill, managing director of Sherlock Communications, commented:

"The data we collected from Republic of el salvador made it very articulate to the states that there are very high levels of confusion regarding cryptocurrency, surprisingly as this may seem, given the circumstance."

Answers to the survey's other questions back up this picture, with 46% of respondents choosing "none" when asked, "What would make you confident to invest in cryptocurrencies?" Eighteen percent answered that proper regulation would assistance them to make the jump, with a similar effigy (16%) responding that access to more reliable and user-friendly platforms would make the departure.

Asked whether or not a local economical crisis would make them more or less likely to trust crypto, 35% answered "less probable," and 28% responded that a fiscal downturn would make them "much less likely" to invest in the asset class. 20-4 percentage held the opposite view, saying that an economic downturn would make them more than interested in crypto. Once again, however, more than respondents — 41% — said that a poor economical climate would make no divergence to their relationship with crypto.

Rather than outright hostility or enthusiasm, a plurality of the survey's respondents – 42% – said that recognizing Bitcoin as legal tender was neither a good nor a bad idea. Out of the remaining respondents, 31% in total had a more or less negative view of the motion, and 29% more than or less positive.

Related: El Salvador acts on Bitcoin toll dip and buys 150 BTC

Neutrality or indifference was once more marked in answers to a question regarding the state of crypto in the country, now and in the future. Thirty-ii percen had no opinion on the matter, with the side by side largest share of responses identifying with the answer, "It'south a discipline that has no future here."

In contempo coverage of citizens' resistance to the government's new Bitcoin law, one resident told reporters that: "We don't know the currency. We don't know where it comes from. We don't know if information technology'due south going to bring the states profit or loss. We don't know anything."