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Crypto Prices

Another million people invested in Crypto in the UK

Written by  Jun 30, 2020

1.9 million of the UK public currently hold cryptocurrencies, the Financial Conduct Authority (FCA) estimated, citing their newest survey.

Moreover, the share of those who hold or held cryptoassets increased by 2.35 percentage points, to 5.35% (from approximately 1.5 million people to 2.6 million people), compared with the 2019 FCA Consumer Research, the regulator said.

Some other findings from ythe survey reveal:

75% of consumers who own cryptocurrencies hold under GBP 1,000 (USD 1,229).

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The most popular reason for consumers buying cryptocurrencies was as ‘as a gamble that could make or lose money.’

Crypto exchanges are a key market participant and most consumers used non-UK based exchanges.

This year 27% had never heard of cryptocurrencies, compared with 58% in the survey last year.

Bitcoin (BTC) was the most recognised cryptocurrency and, whilst Libra does not yet exist as a cryptocurrency, 22% had heard of Libra.

Another Million People Tried Crypto in the UK + More News 102
Source: The FCA

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

Do you find this article useful? Comment below or follow us on Facebook or Twitter.

Carla Thompson

A very experienced freelance Crypto journalist who now prefers to work from home and has such a broad range of knowledge accrued over the years, we would not cope without her influence and ideas.

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