A Coinbase and Qualtrics report has found that 33% of the UK’s population has purchased or still owns at least one form of cryptocurrency.
Taking a significant jump from 29% in October 2021, the report outlines that 64% of Britons who possess a form of cryptocurrency aim to enhance their holdings within a year, which has risen from 54% last year.
In addition, 23% of the UK will look to diversify and break into new cryptocurrencies as well as becoming more aware of ownership in the coming years.
It has historically shown there to be a deep knowledge gap when it pertains to the investment market. But new and innovative ways are benefiting people to learn about the stock market. 13% of respondents believe that they had a good understanding of traditional investment assets such as stocks, shares, etc.
And as time continues to afford cryptocurrencies the room for better understanding and knowledge of the currency, 11% of the respondents deem tohave a good understanding of cryptocurrencies other than Bitcoin.
A Coinbase spokesperson stated: “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.”
The Coinbase report detailed that the UK is second in Europe when it comes to ownership levels by the population. The Netherlands (47%) are ahead in first with Spain (26%), Italy (25%), Germany (24%) and France (17%) following.
In terms of the most popular mode of cryptocurrency, Bitcoin remains to be the strongest, with 75% of respondents owning the token. Ethereum is the second most popular at 52%, followed by DOGE (34%) and Binance Coin (33%).
The Coinbase spokesperson concluded: “Cryptocurrencies provide a way for investors to diversify their portfolios and earn yield. However, to support the growth of this market, more must be done to help support these individuals to make the right decisions.”
