7 October 2022
11 percent of UK Residents To Buy Crypto in Coming Months: Survey
Amid the growing crypto adoption, a new survey reveals that an increasing number of UK residents consider adding cryptocurrencies to their investment portfolios in the coming months.
The survey was conducted by Ziglu, a UK-based money app, having a sample size of 1,011 UK adults above 18 years. It revealed that about 39% already own crypto, and about 11% of UK adults are contemplating buying over the next year. Out of the 11%, about 3% (~ 1.57 million people) are very confident that they would buy crypto in the coming 12 months. The remaining 8% (~ 4.2 million people) said that they might buy next year.
Furthermore, the report revealed that about 29% of UK adults said their motive for buying crypto is to test this emerging market, while 27% said that investing in the asset class is because of an expected price increase. Another 26% revealed that they intend to buy crypto due to its mainstream adoption, whereas 23% asserted their investment because of improving security levels. About 8% said that they would buy crypto because of encouragement from their loved ones. Other reasons include improving regulations in the industry.
“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.” Ziglu’s CEO and founder, Mark Hiperson, said.
Despite the several warnings by the UK Government noting that they could lose all their money by investing in cryptocurrencies, ownership and interest in crypto assets continue to surge across the UK.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.