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Over 2 million adults in UK now hold crypto, FCA survey finds

June 17, 2021. Summarized by summa-bot.

Compression ratio: 42.1%. 1 min read.

Despite the rising awareness and ownership of crypto, the FCA study has flagged a notable decline in understanding of cryptocurrencies.

On Thursday, the FCA published the results of a consumer survey which found that 2. 3 million adults in the U. K. now hold crypto assets, up from 1. 9 million last year.

The rising popularity of holding cryptocurrency comes in line with an uptick in the awareness level as 78% of adults said they have heard of crypto, up from 73% last year.

Despite the rising awareness and ownership of crypto, the FCA study has flagged a notable decline in understanding of cryptocurrencies, suggesting that some people who have heard of crypto may not fully understand it.

The FCA study also said that U. K. consumers significantly favor Bitcoin (BTC) over other cryptocurrencies, with 82% of respondents recognizing BTC.

“It seems likely many adults who have now heard of cryptocurrency are only acquainted with Bitcoin,” the FCA stated.

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by summa-bot

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