Number goes up: A third of Brits have bought crypto, says Coinbase report

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Number goes up: A third of Brits have bought crypto, says Coinbase report

A Qualtrics report carried out by Coinbase shows that the number of Brits who have bought crypto is up 4% to 33% since October 2021.

Bitcoin (BTC) number go up technology is boosting crypto adoption in the United Kingdom. More and more Brits are buying cryptocurrency, according to a Coinbase research piece carried out by Qualtrics.

The key takeaways indicate that 33% of British people own crypto, up from 29% in October 2021. Plus, over half, or 61%, of those surveyed intend to increase their holdings over the next 12 months.

For Danny Scott, CEO of the United Kingdom’s leading Bitcoin exchange, CoinCorner, the statistics “seem incredibly high.” Scott suggested that “we’re seeing a quiet period from the retail market right now,” adding that “when the price settles, so does the interest from newbies.”

A Coinbase spokesperson told Cointelegraph that the population of 67 million Brits creates a “leading European hub of crypto investment,” highlight that there is 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.”

Adding a note of caution, the spokesperson suggested that “it is clear that there is more work to be done around boosting understanding and awareness of these assets.” An experienced Financial Conduct Authority (FCA) employee recently took up a post at the digital assets department to support the government’s “vision for crypto.”

For Coincorner, it’s about “actual real-world, everyday use case, rather than focus on customers who want to speculate on hundreds of different cryptocurrencies that don’t offer anything of real world use.”

Cointelegraph has compiled an analysis of changes to the U.K.’s financial and crypto landscape in light of the recent changes to the FCA’s crypto stance.

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