Industry News

Crypto adoption bolsters as more UK residents show interest

TL;DR Breakdown

  • More UK residents express interest in investing in crypto
  • Boost in crypto adoption, part of reasons why more people want to stake on crypto
  • New crypto investors should watch for easy to use crypto apps during early days

Crypto adoption has gained a massive boost again in the United Kingdom as another survey reveals that more residents are willing to invest their money in cryptocurrencies.

According to research by UK-based money app and crypto platform, Ziglu, an increasing number of UK residents are considering adding crypto assets to their investment portfolios in the coming months.

The survey revealed that 39 percent already own crypto, and about 11 percent of UK adults are contemplating buying over the next year.

Furthermore, out of that 11 percent, about 3 percent (approximately 1.57 million people) are very confident that they would buy crypto for the first time in the coming 12 months. The remaining 8 percent (approximately 4.2 million people) said they might do it within the next year.

Why UK residents choose to invest in crypto

Ziglu’s research further revealed that 29 percent of adults who are buying crypto for the first time are trying to test the market as 27 percent are staking on the asset as they expect a price surge soon.

Another 26 percent revealed that they intend to buy crypto because of the increasing hype surrounding it and its mainstream adoption, while 23 percent of the respondents disclosed that they would invest because of improving security levels.

Eight percent also said they would invest in crypto owing to persuasion from their loved ones.

Surge in crypto adoption pushes asset to mainstream

Ziglu’s CEO and founder, Mark Hipperson, who spoke on the result of their research, stated that crypto adoption has made crypto become mainstream.

He noted that new investors Lai have a wide range of crypto platforms at their disposal to use when they are ready to make their investment. He warned that they should focus on how easy the platforms are for first-time buyers, the fees for small transactions, and particularly security and insurance levels offered to protect their holdings.

However, amidst the boost and increased want for crypto, according to this research, UK’s Financial Conduct Authority (FCA) has issued several warnings to investors, noting that they could lose all their money by investing in cryptocurrencies.

This post was last modified on July 22, 2021 6:31 pm

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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