Leading United Kingdom regulator the FCA [Financial Conduct Authority] estimates 2.3 Mln adults now hold crypto assets, up from 1.9 Mln last year.
As well as ownership of crypto, awareness has also grown, the FCA’s research reveals. Some 78% of adults have now heard of crypto assets – the regulator’s preferred term – up from 73%.
In terms of reputation, 38% of cryptocurrency users see it as a big gamble, down from 47% last year, while increasing numbers see the assets as either a compliment or an alternate to mainstream investments, the FCA outlined.
However, the general level of understanding is declining. Consistent with the FCA’s sample of 3,568 online respondents, only 71% correctly identified the definition of cryptocurrency from a list of statements.
“The research highlights hiked interest in crypto assets among United Kingdom users,” FCA official Sheldon Mills revealed within an official statement. “If consumers invest in these sorts of products, they ought to be prepared to lose all their money.”