Britishers Are Investing More on Cryptocurrencies

Britishers Are Investing More on Cryptocurrencies
  • A new Survey in the UK reports that most British responders have bought crypto.
  • Those crypto investors are mostly male under 35.
  • The survey records these youngsters have a better understanding of crypto.

According to a survey conducted by UK investment firm AJ Bell, the reports say that Brits are investing in cryptocurrencies rather than stocks and shares.

The report of the past year records 7% of the British respondents for the survey have invested in crypto assets whereas 5% have invested in stocks and shares ISAs. A stocks and shares ISA is a type of savings account that allows users to invest without paying tax on their income or capital gains.

Findoutnow, an online market research tracker, polled 1,269 respondents for the survey. Laith Khalaf, a financial analyst at AJ Bell, stated that as a result of many investors stepping into crypto would end the world to go after crypto.

Young Investors on Cryptocurrency

According to the poll, crypto investors are mostly men under the age of 35, where 71% of the respondents said that their crypto investment is profit. On the other hand, 12% who invested have lost their money but 17% of people have no idea about their crypto investments whether it is profit or loss.

According to the UK finance outlet ThisisMoney, AJ Bell’s analyst stated that the survey records these youngsters have a better understanding of cryptocurrencies. They have more confidence in jumping into the depth of cryptocurrencies.

Moreover, he was also cautious that young investors are stepping into the shallow end of crypto without learning to swim in shallower water. He also added that:

“The young age profile of crypto buyers suggests they may have accumulated few assets thus far and may find their finances severely harmed if crypto markets deteriorate.”Additionally, Khalaf’s discussion about Musk’s influence on Bitcoin stating “they are hardly a measure of wider business sentiment towards Bitcoin ”. Besides, with the released data from last-week, it is noticeable that this current investment in cryptocurrency trend has no signs of abating.

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