Nearly a third of Britons are curious about investing in cryptocurrency but are too baffled by it to take the plunge, according to a new national survey.
Of the three in ten (31%) curious about investing in crypto, 62% refrained from buying it because they don’t understand the market, while 43% say they don’t know a safe way to get it. ‘buy.
However, the nationally representative survey of 2,000 Brits, commissioned by the Ziglu currency app and conducted by OnePoll, also found that they would invest if they had a better understanding of cryptocurrencies (64%) and that traditional financial institutions are starting to offer cryptocurrencies to retail customers (36%).
While there is clearly confusion over how cryptocurrency works, the survey also revealed that it is not just the preserve of experienced investors. Of the 14% who had previously bought cryptocurrencies, more than one in ten (13%) had no investment experience and almost a quarter (23%) consider themselves new to the coin, while 32 % describe their experience as an investor as “competent”.
Mark Hipperson, Founder and CEO of Ziglu, said, “Our survey underscores the importance of financial inclusion, and that is why we will continue to spread the word not only about how crypto works, but how it works. ease and security that it can now be to buy. and sell. “
A sign that cryptocurrency is gaining legitimacy in the eyes of the public, it is seen as a wiser investment than property. When asked how they would invest £ 100, more people chose cryptocurrency in their top three investments (30%) than real estate (19%) and almost the same number chose gold (31 %).
The survey also revealed a gender divide over the reasons for buying crypto. Men mainly bought cryptocurrency to make money (53%) while women heard good things about it and thought they would give it a try (45%).
Cryptocurrency is most popular in London, where three in ten (30%) have bought it, and is least popular in Wales where only 9% have invested in it.
