According to 41% of UK residents, investing in cryptocurrencies is no more risky than buying stocks on the stock market.
According to a Piplsay survey of 6,070 UK residents over 18 years of age, many Britons believe that the risks of investing in cryptocurrencies are similar to those of investing in securities. However, 45% of respondents still consider cryptocurrency to be more risky than investing in stocks.
More than 40% of survey participants described cryptocurrency as a safe investment option, and 31% of those surveyed said they considered investing in it too risky. The remaining 27% of respondents are unsure about the security of digital assets.
About 30% of respondents cited the possibility of hacking or fraud as the main risk of dealing with cryptocurrencies, while regulatory issues raised concerns among 26% of survey participants. At the same time, only 19% of respondents are concerned about the volatility of crypto assets.
Despite the growing interest in cryptocurrency, the majority of respondents are still more likely to stay away from such investments – 57% said they have no desire to invest. Most Britons aren’t sure they understand how cryptocurrency works – 46% of survey participants said this.
About 35% of Gen Z (born 1997 to 2012) and millennials (born 1981 to 1996) believe they are good at cryptocurrencies, and 39% believe digital assets are safe. About 37% of Gen Zers and 27% of Millennials plan to invest in cryptocurrencies this year.
At the same time, 29% of representatives of generation X (born from 1965 to 1980) believe that they understand cryptocurrencies, and only 22% are confident in the safety of investments in crypto assets. About 27% plan to invest this year.
46% of survey participants said large brands such as Apple, Amazon and Tesco should accept payments in cryptocurrency. This indicates a growing demand for cryptocurrencies as a payment instrument.
As a reminder, according to a 2020 study by the Independent Reserve, 18.4% of Australians own crypto assets. The most popular cryptocurrency among the respondents is bitcoin.
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