A Third of All Brits Have Now Bought Crypto According to Coinbase

Lost money to a crypto or trading scam? Read this first:

If your losses exceed £3,000 (in the UK) or $10,000 worldwide The Crypto Adviser can offer advice on recovering your funds. 

>> GET IN TOUCH

CRYPTO has been through some rocky patches since the 2021 price surge but that hasn’t quelled the UK public’s appetite for digital assets.

A new report has revealed that 33% of Brits now own cryptocurrency, up 4% since October 2021.

And the enthusiasm doesn’t end there – 61% of those surveyed intend to increase their crypto holdings over the next year.

The findings from research carried out by Qualtrics on behalf of cryptocurrency exchange Coinbase, also revealed that 11% of UK investors said they had a ‘good’ understanding of crypto.

A Coinbase spokesperson said: “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.”

Bitcoin is still king

Bitcoin (BTC) is still the king of crypto among UK investors, who were also fond of Ethereum (ETH) and the Dogecoin (DOGE) meme coin. Interestingly, the less well-known Binance Coin (BNB) was also popular.

The figures were queried by Danny Scott, CEO of UK crypto exchange CoinCorner, who believes crypto adoption in the UK is actually significantly lower than the latest research suggested.

But either way, it’s clear that while crypto adoption is growing, more needs to be done to increase understanding of cryptoassets and create a more secure environment for investing in them.

“Cryptocurrencies provide a way for investors to diversify their portfolios and earn yield,” the Coinbase spokesperson continued.

“However, to support the growth of this market, more must be done to help support these individuals to make the right decisions.

“Coinbase is committed to supporting growth in this area but so too must be other leading crypto players, regulators and Government.”

Interestingly, similar surveys surrounding the understanding of traditional investment assets suggest that the level of understanding is broadly similar, at around 13%.

Younger people are far more likely to invest in cryptocurrencies, and as the digital generation ages digital assets are likely to become an integral part of any investment portfolio.