Cryptocurrencies are gaining in popularity, but for those who have chosen not to invest, a lack of understanding of the asset itself was cited as the primary reason for staying out of the fray for now, according to a recent report from cryptocurrency finance platform Gemini.

Worldwide, an average of % of poll respondents said that the main reason for not getting into crypto was “I don’t understand how to buy or hold cryptocurrency.” Broken down by region, those in Latin America were the most likely to say this % while those in Europe were least likely %. The U.S. fit the mean average at %.

Tax uncertainty also stands in the way of crypto adoption. A mean average of % of people across the world said that “The tax complexities of owning cryptocurrency have kept me from investing.” In the U.S., the area with the least tax uncertainty, % of respondents still said this; in the Middle East, the highest region, it was %. This tax anxiety pairs with an overall cloud of uncertainty regarding regulations around cryptocurrency. An average of % of non-owners said there is legal uncertainty around using cryptocurrency; for the U.S. it was %.

While uncertainty and lack of education were major reasons, they were not the only ones. Other explanations for not buying cryptocurrency include concerns about security, market volatility, lack of knowledge of how to make purchases with it, just plain not trusting it, and worry that it’s not backed by a sovereign entity.

Despite hesitance from some, the report noted that crypto use has grown dramatically in a very short time, with % of cryptocurrency owners surveyed saying they made their first purchase in . Furthermore, % of those who do not currently own cryptocurrencies still described themselves as “crypto-curious,” as in they are either interested in learning more or say they are likely to acquire cryptocurrency in the next year.

Data has also shown that while the cryptocurrency space is still quite white, male and young, it is becoming less so: In , the gender breakdown was an even between men and women, while in this first quarter of , women now make up % of holders. Meanwhile, the proportion of owners under the age of went from % in to %. Finally, the proportion of Black Americans who own cryptocurrency went from % in to % in ; for AsianPacific Islanders, it went from to %; and for Hispanics and Latinos, it went from to %.