3,9% of UK adults have cryptocurrencies: Financial regulator report

The spread and adoption of cryptocurrencies has been unstoppable since the big boom in 2017 at the latest. However, while the actual application is progressing slowly, more and more people own digital assets. A new FCA report claims that nearly 3,9% of Britain's residents have cryptocurrencies.

Only 25% own more than £ 1,000 GBP

The UK's financial regulator has now conducted its third cryptocurrency investigation. The agency is trying to get precise insights into the world of cryptocurrencies and to understand the background.

The survey an online survey was conducted in the form of December 13-21, 2019. Previous research results have been determined through personal surveys. A total of 3,085 people were interviewed. Survey participants who had heard of cryptocurrencies before were allowed to continue the survey.

The "Cryptoasset consumer research 2020"found that 3,86% of the UK population over the age of 18 already owned digital assets such as Bitcoin, Ethereum, Ripple and Co. That is equivalent to 1,9 million people.

Much of the keepers are made up of people with less than £ 1,000 GBP. According to the FCA report, only 25% have an investment in excess of three figures. This could have to do with the fact that most investors are aware of the risks of investing in cryptocurrencies. As the FCA writes, most consumers have a high level of understanding.

According to the FCA, the most common reason for investing in cryptocurrencies is: As a game of chance where you win or lose money. This also suggests that investors are aware of the risks and should therefore follow one of the most important pieces of advice on the crypto market - not investing more than you are willing to lose.

Distribution is not only increasing among private investors

Compared to 2019, there is a significant increase in investors. Last year, according to an FCA investigation, only 3% were or were in the possession of cryptocurrencies. Today it is 5,35%.

While in 2019 it was 58% who had never heard of cryptocurrencies, this value dropped to 27%.

But not only among private investors, the numbers of people who own cryptocurrencies are increasing. Even institutional investors do not want to miss out on the hopefully upcoming price increases of the major cryptocurrencies such as Bitcoin and Ethereum. Companies in the crypto space have recognized this and are offering special offers for large investors. One of the largest is GrayScale Investments, which offers its customers a choice of a total of 9 crypto trusts:

Grayscale Investment: these 9 cryptocurrencies are bought by the investment company

Markus from Kryptokumpel.de
Photo credit: pixabay.com | CC0