A recent report by cryptocurrency exchange Cex.io has revealed that 35% of the UK-based respondents own more than £100,000 in crypto.
The report compiles data collected from 1,013 people – 49% male and 51% female – to learn more about both crypto and non-crypto users’ habits and insights.
Unsurprisingly, the 18-24 age group exhibited a positive perception of crypto. However, out of the entire group, only 9% would classify their knowledge as expert on the subject of cryptocurrency.
People would use crypto for a mortgage if fees were lower
26% of the interviewees said they would use crypto for a mortgage if the fees were lower. However, 32% responded that they didn’t know whether they would use it for mortgage purposes.
75% of the interviewees said they would not be interested in banking with crypto, though 19% claimed they would be if a bank they trust supported it.
87% of the entire group reported that they owned crypto with 52% claiming they first purchased some more than a year ago.
When asked why they owned crypto, 21% replied they were curious about crypto while another 21% said they are simply waiting for their crypto to rise in price.
Interestingly, 25% reported that the approximate GBP value of their crypto is less than £500, while 35% reported their value is more than £100,000.
31% keep their crypto in online wallets
The Cex.io report revealed 43% of the crypto owners hold Bitcoin, while only 18% hold Ether and 19% hold other altcoins.
When quizzed on what is most important when buying crypto, 31% responded saying the security of their crypto is most important. 25% claimed the most important aspect is the ability to use their credit card while 24% said they care most about low transaction fees.
Surprisingly, 31% of the crypto owners questioned store their crypto using an online wallet service, while only 25% of them use a hardware wallet.
Of those who don’t own any cryptocurrency, 33% replied saying they don’t care about it with a further 10% saying they don’t want to invest time into learning about it. Interestingly, only 7% of people responded saying it is too complicated to buy, use, and store it.
However, 28% did respond saying if they understood it more, they would be more encouraged to buy it.
Interested in reading more about crypto survey-related stories? Discover more about an eToro survey which highlighted how 43% of millennials trust crypto more than stocks.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.