Crypto Adoption Report: A Third of UK Citizens Have Bought Digital Assets

  • May 13, 2022
  • Jennifer Moore

Crypto awareness and adoption trends continue to grow across the United Kingdom, with international research reflecting the nation becoming the second biggest European adopter of cryptocurrencies after the Netherlands(47%).

Rising Crypto Interests across the UK 

The Qualtrics report, sponsored by a global crypto exchange, tells that the ratio of persons currently in possession, or having previously owned cryptocurrencies within the UK has increased by 4 percentage points to 33%. The nation is ahead of most European nations, including Spain(26%), Italy(25%), Germany(24%) and France(17%). In addition, the research also provides insight into the investment patterns of the UK crypto investor.  

Also Read: US Secret Service Sets up Crypto Awareness Hub to Improve Public Perception

Crypto Investment Patterns in the UK

The research revealed several interesting pieces of information on the UK’s crypto-owning population. To start things off, the British crypto investors keep a clear objective view and plan a likely course of action with their crypto investments beforehand. A majority of the crypto owners(61%) will be looking forward to increasing their portfolio holdings within a year, a 7% increase from the figures(54%) in October 2021. 

In terms of market share for cryptocurrencies, Bitcoin (BTC) has the highest preference, with over 75% of British investors opting for the world’s first cryptocurrency. Ethereum(ETH) follows suit with 52% of the survey’s respondents admitting to owning the token of the world’s largest blockchain. Popular meme-based cryptocurrency Dogecoin(DOGE) ranks third at 33%. 

Also Read: Brazil Senate Approves Regulation Bill for Crypto Transactions

Wrapping Up

While organizational reports may vary from one another, the fact remains undeniable- crypto adoption is quickly rising as an alternative option for investment throughout the entire globe. The growing relevance of virtual assets puts the spotlight on the UK’s potential as a potential global hotspot for crypto research and development. Institutions and investors can business enterprises may leverage the growing trends to extract long-term growth and revenues.

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