Crypto adoption is continuing to rise in the United Kingdom, with a new survey revealing that 39% of persons in the country now possess crypto, and 11% are planning to buy in the coming months.
With cryptocurrencies gaining center stage in the financial industry in recent months, a new survey finds that an increasing percentage of UK citizens are considering adding crypto assets to their investment portfolios soon.
Adults in the United Kingdom are considering purchasing cryptocurrency
Ziglu, a UK-based money app and cryptocurrency platform conducted the study. When CryptoPotato contacted the firm, it learned that the survey’s sample size was 1,011 UK people over 18.
It was discovered that over 39 percent of UK individuals now hold cryptocurrency, and approximately 11 percent are considering purchasing in the coming year.
About 3% of the 11 percent (about 1.57 million people) are highly certain that they will acquire cryptocurrency for the first time in the next 12 months. The remaining 8% (about 4.2 million people) stated they were considering it within the following year.
Various Reasons for Buying Cryptocurrency
According to the research, roughly 29% of UK individuals stated their motivation for purchasing their first cryptocurrency was to test the market. In comparison, 27% said they invested in the asset class because of a projected price gain.
Another 26% said they want to buy crypto because of the growing buzz around it and its mainstream adoption, while 23% said they’d invest because of improved security.
Approximately 8% stated they would acquire cryptocurrency if their loved ones encouraged them. Another factor is that the industry’s regulations are improving.
Cryptocurrency is becoming more mainstream
Speaking on the findings, Ziglu’s CEO and founder, Mark Hipperson said,
“Cryptocurrencies are becoming increasingly mainstream… There is a wide range of choice for people in terms of platforms to use, but they should focus on how easy the platforms are for first-time buyers, the fees for small transactions, and in particular, security and levels of insurance offered to protect your assets.”
Bitcoin, Bitcoin Cash, Cardano, Ether, Litecoin, Tezos, and LINK are among the crypto assets available to the platform’s users.
Meanwhile, as interest in and ownership of crypto assets grows in the United Kingdom, the Financial Conduct Authority (FCA), the country’s regulator, has issued many warnings to investors, stating that they risk losing all of their money if they invest in cryptocurrencies.