2 million UK citizens buy cryptocurrency

According to a recent survey conducted by the Financial Conduct Authority (FCA), which works with...by the government and the Bank of England as part of the British crypto assets task force, more and more people are learning about and buying cryptocurrencies.

«We estimate that in 2019, 3.86% of the population owned cryptocurrencies. This is about 1.9 million adults, while the UK population (over 18 years of age) is about 50 million»- says the study.

In addition, 73% of respondents heard aboutcryptocurrencies, last year their number was 42%. The largest contribution to this process was made by traditional media and online resources, 28% of adults learned about cryptocurrency through advertising.

45% of cryptocurrency owners also saw ads, 35% of them said that this made their purchase more likely. At the same time, they are more likely to regret the purchase, as they understand the risks.

The study was conducted by the FCA from December 13 to 212019 with a national representative panel of 3,085 respondents. After selecting those who did not hear about cryptocurrencies, the agency added 483 people who owned digital assets to the sample.

Bitcoin remains the most recognizable cryptocurrency, but 22% of libra has been heard about the yet unreaturized Libra.Before buying cryptocurrency 90% of people conducted a study, for comparison in 2019 their number reached 84%.

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The most popular reason for buying cryptocurrencies remains speculation, and it is interesting that more informed users preferstore them for a longer time, and vice versa.

Those who invest for speculative purposes are more likely to keep their cryptocurrencies for extended periods.By comparison, those who demonstrate lack of basic knowledge usually holdcryptocurrencies for shorter periods.

12% have little interest in the value of their assets, 15% regret buying.

Almost 50% of cryptocurrency owners never used digital assets, but 27% paid for goods and services.

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31% of respondents who currently own the script no longer intend to buy it because they believeit's too risky.29% of them will buy more if in the future will beregulation has been introduced.

Interestingly, 73.2% of consumers who do not have cryptocurrencies plan to purchase them in the future.

Cryptocurrency purchases were made mainly (83%)on cryptocurrency exchanges outside the UK, most often called the Coinbase trading platform (63%), followed by Binance (15%), Kraken (10%), Bittrex (8%) and Bitfinex (7%).

In addition, 46% store their cryptocurrencies on the exchange where they bought them, and only 24% store them on offline wallets.

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