Cryptocurrencies continue to build solid momentum across the United Kingdom. New research indicates up to one-third of UK customers have either bought or still own cryptocurrency. Although all research needs to be put in the correct perspective, that is a significant milestone.
Cryptocurrency Is Popular In The UK
There has always been an interest in cryptocurrencies across the United Kingdom. The region remains one of the global financial hubs, and fintech activity is booing. However, the jump to cryptocurrency and blockchain is not that steep, and consumers seem open to the concept of purchasing Bitcoin and other similar assets.
Research by Coinbase and Qualtrics indicates many UK consumers have owned or still own crypto assets today. Up to one in three has either bought crypto assets or still holds [some of] them today. That is a strong increase from 29% in October 2021, although there is much room for future improvement. However, the survey indicates two in three consumers will look to buy more and diversify their holdings accordingly, which is interesting.
A Coinbase spokesperson comments on the research:
“The UK continues to be a leading European hub of crypto investment with a growing proportion of people engaging with these assets. Recent survey work suggests that the adoption trend may continue, with many sharing ambitions to expand the size and diversification of their portfolios. However, it is clear that there is more work to be done around boosting understanding and awareness of these assets.”
The UK is behind only the Netherlands in terms of cryptocurrency ownership in Europe. However, Spain, Italy, and Germany are not too far behind. Moreover, Bitcoin and Ethereum remain the go-to crypto assets to own, ahead of Dogecoin and Binance Coin.