As cryptocurrency increasingly gains global recognition and acceptance, some people still find the asset class concept hard to fathom. Yet, they are curious to invest in the crypto market.
A new national survey conducted by the U.K.-based survey and marketing research company-OnePoll, commissioned by significant cryptocurrency platform Ziglu, reports a developing appetite among the British populace in digital currencies.
31% expressing 3/10 of the 2,000 survey representatives, responded in the affirmative to be curious about laying hold on crypto.
The information contrasts with a recent opinion expressed by Andrew Bailey, governor at the Bank of England. He stated that in an online forum that cryptocurrencies do not yet hold a structure that will enable them to operate as a means of payment over a long period.
A similar report by the then BoE governor Mark Camry had kicked against creating a central bank digital currency. He claimed that forming a CDBC could end in significant challenges in the existing financial system.
Furthermore, 62% of the survey participants continue to associate with traditional assets to understand the concept behind cryptocurrencies. 43% voted they would not hold a cryptocurrency because they do not know their way around the crypto market.
About 14% now owned a crypto asset. When the researchers queried what the participants would invest £100 in, a significant 30% chose digital assets against 19% who chose real estate.
A total of 32% agree to be “competent” investors with a good knowledge of the crypto market, while 13% had no financial or investment knowledge alongside 23% who said they are crypto “novice.”
Since some Brits are naive about a safe way to hold cryptocurrencies, CEO and founder at Ziglu stated that,
“Our survey highlights the importance of financial inclusion, and that is why we will continue to spread the word not just about how crypto works but also how easy and safe it can be now to buy and sell.”
The survey shows gender differences in reasons for holding crypto assets. While the female gender (45%) buys crypto assets to give it a shot, the men (53%) have cryptocurrencies as a means of making profits on a long-term investment plan.
At the time of writing, Great Britain does not have any regulatory or legislative guidance for cryptocurrencies. Instead, the government has chosen to sit on the fence, putting on a “wait and see” attitude, wondering if digital currencies will die anytime soon or stand the test of time.
The British financial watch dog-Financial Conduct Authority (FCA) recently warned citizens not to invest in Bitcoin or any other crypto products or stand losing all their money to its numerous risks.
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