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UK Citizens are Confident in Crypto and See it as Investment- FCA Survey

In accordance with a survey by the Financial Conduct Authority (FCA), the crypto users in Great Britain are confident in it and see it as an investment.

UK Citizens are Confident in Crypto and See it as Investment- FCA Survey

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In accordance with a recently conducted survey by the Financial Conduct Authority (FCA), the cryptocurrency users in Great Britain, UK are confident in cryptocurrencies. The survey revealed that the people in the United Kingdom see cryptocurrencies as an investment option rather than gambling.

UK Citizens See Crypto as Investment, FCA Survey suggests

The survey was conducted back in the month of January of this year and 2,568 people participated in the survey. As witnessed in the survey, around 78% of the total adult population in the United Kingdom has heard of cryptocurrencies

Well, it is a good increase as there has been a 43% increase in the numbers than the survey conducted back in the year 2019 and up a further 5% in the year 2020.

In addition to this, the survey revealed that there has been an increase in the number of people owning crypto assets and are looking upon them as investments rather than a gamble.

Moreover, another significant finding that emerged in this survey was the change of behavior of the users when asked about the reason for purchasing cryptocurrencies. 

One-third of the total respondents see cryptocurrencies as a gamble which is notably down from the earlier levels.

Growing Acceptance of Crypto Assets

A rise has been witnessed in the median holdings of users and it is believed that this rise could potentially be a sign of the increased confidence of people in digital assets. 

Well, this can be due to the commendable performance of the overall crypto market over the past year.

Along with this, the research also revealed the growing acceptance of cryptocurrencies as the number of people that consider digital assets as an investment option rather than a gamble has increased from 26% to 32%.

As per the preferences of the assets, 66% of the respondents revealed that they own Bitcoin and 35 % of them owned Ethereum followed by Litecoin 21%, Ripple 18%, and Bitcoin Cash 15%.

READ  Retail Investors on Reddit are Shifting from Equities to Cryptocurrencies

#Cryptocurrencies #FCA #UK Citizens

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Source: https://www.cryptoknowmics.com/news/uk-citizens-are-confident-in-crypto-and-see-it-as-investment-fca-survey

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