LONDON—The Financial Conduct Authority (FCA) estimates 2.3 million adults now hold cryptoassets (up from 1.9 million last year) in the United Kingdom, which is a 21% rise year-over-year, with 78% of adults having heard of cryptoassets.
“The survey suggests that the majority of the growing number of cryptocurrency holders had a positive experience so far and will likely buy more in the future as they regard them less as a gamble,” Finance Feeds said.
The consumer research shows 38% of crypto users regard them as a gamble (down from 47% last year) while increasing numbers see them as either a complement or alternative to mainstream investments.
Over half of crypto users have had a positive experience so far and are likely to buy more (rising from 41% to 53%), according to the research. Regretful consumers have declined from 15% to 11%.
Only 10% of those who have heard of cryptocurrencies are aware of consumer warnings on the FCA website, and 43% of these said they were discouraged from buying crypto.
Most consumers recognize that crypto investments are not protected, although 12% of crypto users believe otherwise, Finance Feeds stated.