33% Of Britain’s Consumers Have Used Crypto, Coinbase Report Reveals | Bitcoinist.com

Bitcoinist

Crypto adoption continues to surge in Britain, with a whopping 33% of the country’s customers having previously invested in such assets. The ratio is up 4% from six months ago, and is second only to the Netherlands’ staggering 47% figure in Europe.

Britain Consumers Like Crypto

The figure comes from a Qualtrics study conducted twice a year on behalf of cryptocurrency exchange Coinbase. According to the study, 61% of Britons who possess cryptocurrencies aim to expand their holdings within a year, up from 54% 2021.

How To Get Free Crypto  
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

About two-thirds of those surveyed intend to grow their holdings in the cryptocurrencies they already own, compared to only 23% who want to diversify into new assets.

The data “seem incredibly high.” according to Danny Scott, CEO of CoinCorner, the UK’s top Bitcoin exchange. “we’re seeing a quiet period from the retail market right now,” Scott said, adding that “when the price settles, so does the interest from newbies.” He added:

“Without knowing the source for this, I’d hazard a guess the survey size was small and fell luckily in the direction of more adoption than the reality.”

In Europe, Britain is second only to the Netherlands (47%) in terms of consumer cryptocurrency ownership, ahead of Spain (26%), Italy (25%), Germany (24%), and France (24%). (17 percent ).
Bitcoin (BTC) and Ethereum (ETH) continue to be the most popular cryptocurrencies, with 75% and 52% ownership, respectively, followed by DOGE (34%), and Binance Coin (34%). (33 percent ).

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

According to Statista, crypto ownership in the United Kingdom is substantially lower—around 7%, when previous Cointelegraph reporting stated that it was under 10%.

Coinbase Banner  

Related Article | EU Includes Crypto Assets On Its Sanctions List Against Russia And Belarus

Her Majesty Government Turn To Crypto

Not just the retail market in Britain is interested in cryptocurrency: Her Majesty’s Treasury looks to be staying with it despite the sluggish Bitcoin price action. In April, amid debate over stablecoin legislation in the United Kingdom, HM Treasury announced its intention to create a royal NFT by the summer.

Consumers’ perceived understanding of various crypto assets was also tested by Coinbase. Around 11% of people polled said they knew a lot about cryptocurrencies other than Bitcoin — a figure that is surprisingly similar to those who thought they knew a lot about traditional investment assets (13%).

In reality, it’s plausible that crypto knowledge is just generational rather than nonexistent. In a recent interview, billionaire hedge fund manager Paul Tudor Jones stated that he is “long” on crypto due to the “intellectual capital” entering the business today from colleges.

BTC/USD falls back to $36k. Source: TradingView

Most millennial millionaires have already invested in cryptocurrencies, according to a CNBC poll from last year. A recent Ipsos study found a substantial age gap among Americans who prefer to utilize cryptocurrency for payments.

FreeBitcoin Banner  

A Coinbase spokesperson noted:

“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. However, it is clear that there is more work to be done around boosting understanding and awareness of these assets.”

“It is clear that there is more work to be done around boosting understanding and awareness of these assets,” the spokesman added with caution. To support the government’s “vision for crypto,” an experienced Financial Conduct Authority (FCA) staffer recently joined the digital assets department.

Related Reading | Can NFTs Become Historic Memory? Analyzing Ukraine’s Museum

Featured image from Getty Images, chart from TradingView.com

Go to Source
Author: Anifowoshe Ibrahim


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.