As cryptocurrency increasingly gains global recognition and acceptance, some people still find the concept of the asset class 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 popular cryptocurrency platform Ziglu, reveals a growing appetite among the British populace in digital currencies.
31% representing 3/10 of the 2,000 survey representatives, responded in the affirmative to be curious about laying hold on crypto.
The data is in contrast to a recent opinion expressed by Andrew Bailey, governor at the Bank of England, who told an online forum that cryptocurrencies do not yet possess a structure that will allow them to function as a means of payment over a long period.
Coinfomania earlier reported a similar view by the then BoE governor Mark Camry had kicked against the creation of a central bank digital currency. He argued that developing a CDBC could result in significant challenges in the existing financial system.
Moreover, 62% of the survey participants still remain attached to traditional assets since they can yet 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% already owned a crypto asset. When the researchers inquired 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 understanding 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 noted; “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.”
Interestingly, the survey indicates gender discrepancy to reasons for holding crypto assets. While the female gender (45%) buys crypto assets just 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 in place 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 to not invest in Bitcoin or any other crypto products or stand losing all their money to its numerous risks.
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