The Rise Of Crypto Ownership In The UK

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The number of people owning crypto in the UK has surged in recent years putting it at the forefront of global adoption.

Currently some 12% of UK adults – around 7 million people – hold cryptocurrency, up from 4% in 2021. There are likely to be many younger people who hold crypto as well.

But who are these crypto pioneers and where are they buying their crypto from?

Who owns crypto in the UK?

While the demographic profile of UK crypto owners is diverse, young tech-savvy individuals make up the bulk of the holders.

According to research by the Financial Conduct Authority (FCA), the majority of crypto investors are aged 40 or under, with a concentration in the 18-34 age bracket.

Men are more likely to own crypto than women, with various studies suggesting a roughly 60:40 male-to-female ratio.

Crypto owners are more likely to live in urban areas, such as London, Manchester or Birmingham, while more people living in the Southeast hold coins compared to those who live further north.

Ownership is not limited to those who earn high salaries though. The FCA says that middle-income groups – those earning between £30,000-£50,000 a year – are increasingly dipping their toes into crypto investing.

Those who’ve adopted crypto tend to be more educated and to have a basic understanding of investing in general and how to use digital platforms.

However, according to the FCA there’s a significant number of people who are buying crypto without fully understanding the risks involved, highlighting the need for greater financial education.

Despite the younger demographic, here at The Crypto Adviser we see a large number of older people come to us for assistance, largely because they are unfamiliar with the technology involved and need guidance on using exchanges and wallets. They also tend to be more concerned about security.

Where are people buying crypto in the UK?

Most people who’ve bought crypto in the UK have done so through one of the well-known, FCA-registered platforms such as Coinbase, Kraken or Binance.

The reason for this is that many of these platforms offer user-friendly interfaces and easy-to-use apps which make buying coins extremely easy, especially for those wanting to test the water with smaller investments.

Research suggests that many crypto investors start off buying less than £500 worth of coins using either a debit card or a bank transfer. Peer-to-peer platforms are still niche and not widely used, while crypto ATMs have been banned in the UK.

Another growing trend is the use of regulated investment vehicles, including Exchange Traded Notes (ETNs). The FCA has lifted the ban on crypto ETNs which can be bought by UK retail investors from October 2025.

ETNs allow investors a regulated way to gain exposure to crypto without having to tackle the complexities of buying and storing the underlying asset themselves, something that’s often cited as a barrier to entry for those wishing to invest.

Crypto ownership trends

Bitcoin remains the most popular cryptocurrency amongst UK investors and is held by around 70% of crypto owners. It’s followed by Ethereum and stablecoins such as USDT. XRP is another popular coin held by UK investors.

There is some appetite for meme coins, such as Doge, but this tends to be concentrated among younger investors who are chasing profits through high-risk opportunities.

Various sources suggest that retail crypto adoption is being driven by regulatory changes and institutional adoption which is boosting confidence amongst those who would have otherwise been disinclined to buy crypto.

Regulatory changes in the crypto sector

The regulatory approach to crypto in the UK has evolved significantly over the last few years, with the FCA shifting its position as the industry matures.

This includes the lifting of the ban on the sale of crypto ETNs to retail investors as we’ve already mentioned, along with the development of a broader crypto regulatory framework, including recent proposals on stablecoins and financial promotions.

Additionally, in May 2025 the FCA proposed a ban on borrowing money to buy crypto meaning that retail investors can no longer leverage credit cards or loans for purchases.

The latest measures by the FCA aim to protect consumers while fostering innovation – balancing risk with consumer choice.

Looking ahead

Crypto ownership in the UK is currently on an onward trajectory and the FCA’s decision on ETNs marks a pivotal shift which could open the door to greater adoption, especially amongst those who are less tech savvy.

Commentators suggest that financial advisers may start considering crypto exposure in their recommendations in light of the decision on crypto ETNs. This would be subject to stringent risk profiling and client education and would likely form a small part of any suggested strategy initially.

Despite this move towards a more regulated, institutional setting, crypto investing is still high risk and is not protected by the Financial Services Compensation Scheme (FSCS), meaning there’s no recompense if things go wrong.

In short, UK crypto ownership is growing, but so is the scaffolding around it. The hope is that consumers will be given more freedom to invest in crypto while enjoying greater protections and increased education.