According to recent research, about a third of the UK population wouldn’t buy cryptocurrencies due to a lack of regulation. Most would be more inclined to invest if they were guaranteed better consumer protection.
A survey conducted by Coinbase found that more widely accessible information would make over 50% of people aged between 30 and 39 invest in crypto. However, the cryptocurrency industry is still unregulated in the UK, and the price volatility makes it too risky for most UK investors.
The Financial Conduct Authority, a UK body regulating cryptocurrency exchanges, also spoke out against crypto purchases. It warned its customers that they could “lose all their money” on the “high-risk, speculative investments” into cryptocurrencies.
14% of Americans own cryptocurrencies.
Unlike UK residents, Americans are less reluctant to invest in cryptocurrencies. According to the results of a study conducted by the cryptocurrency exchange Gemini, we could estimate that over 20 million US citizens own crypto-based assets at the moment.
The research also shows that the crypto-curious population is growing, making up 63% of US adults at the moment. According to Gemini’s study, about 13% of US adults plan to make their first crypto investment within the next 12 months, which would increase the number of crypto investors by 19.3 million. This would effectively double the number of US cryptocurrency owners within a year.
Much like in the UK, the greatest obstacle to larger investments lies in the lack of market understanding among potential investors. Almost one out of four Americans doesn’t grasp the concept of cryptocurrencies.
74% of US cryptocurrency investors are aged 25 to 44.
Men currently dominate the cryptocurrency investment market. However, Gemini’s survey found that more than half of the crypto-curious population (53%) were women, which could signify a demographic shift in the future. Furthermore, new betting sites have a more open attitude towards adopting cryptocurrencies as a payment method.