Almost one in five (18%) UK adults own cryptocurrency, according to new research from cryptocurrency platform Gemini. The 2022 Global State of Crypto Report suggests crypto adoption has accelerated rapidly in the last 12 months, with nearly half (45%) of these investors first buying in the past year. Over a third (35%) of UK cryptocurrency investors are female.
The data reveals the UK’s crypto ownership is similar to major European markets, such as Ireland (18%) and Germany (17%) and in line with developed nations including Australia and the US, where 18% and 20%, respectively, have bought crypto. Compared globally, Europe is more conservative, with the highest crypto ownership in Brazil (41%), Indonesia (41%) and the United Arab Emirates (35%).
UK consumers are crypto curious, with 49% of UK respondents who do not currently own crypto saying they are interested in learning more or likely to buy it in the next 12 months. Of those identified as ‘crypto curious,’ the majority (55%) are women.
Other key highlights of the report:
● The average age of investors is 36, with 62% of investors aged 25-44.
● Crypto ownership is highest in London (23%), followed by the North West (12%), South East (11%) and East Anglia (11%).
● Investing for the long-term. Four in five (80%) buy and hold crypto for long-term gains, versus 40% who are actively trading crypto to make a profit. Other European countries such as France and Germany are less likely to hold for the long term (75% and 79% respectively) and more likely to actively trade (47% and 47% respectively).
● Reasons to invest. Half (52%) of UK investors believe crypto is a good way to diversify assets, lagging investors in countries such as Brazil (81%), India (71%), France (60%) and the US (55%).
● Mostly Bitcoin. The most commonly owned currencies by UK investors are Bitcoin (69%) followed by Ethereum (33%).
Blair Halliday, Head of UK at Gemini, said: “Last year was transformational for cryptocurrency ownership, with significant growth in UK adoption. A high proportion of UK investors see crypto as a long-term store of value, suggesting more people are recognising crypto’s part to play in a diversified investment portfolio. There is a huge opportunity to support those who expressed interest in learning more and Gemini is focused on providing simple tools and high quality education to enable the curious consumers to start their journey.”
For a link to the full report please click here.
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