Crypto Adoption Increases in the UK

The crypto market has seen challenges in terms of price growth since November 2021. However, the global adoption of crypto assets has jumped significantly even under an uncertain regulatory environment. The United Kingdom, one of the biggest economies in the world, is home to some of the world’s largest crypto companies. As a result, the adoption of digital assets has surged in the region.

According to the latest findings by Coinbase, 33% of people in the UK own cryptocurrency assets, which is up from 29% in October 2021. Among crypto holders, 61% are planning to expand their portfolios in the next 12 months.

The latest consumer research from Coinbase carried out by Qualtrics shows that almost 11% of consumers in the UK said that they have a good understanding of cryptocurrency assets.

“The UK continues to be a leading European hub of crypto investment with a growing proportion of people engaging with these assets. Recent survey work suggests that the adoption trend may continue, with many sharing ambitions to expand the size and diversification of their portfolios. However, it is clear that there is more work to be done around boosting understanding and awareness of these assets,” a Spokesperson of Coinbase, said.

Portfolio Diversification

Many British investors consider digital currencies an important tool for portfolio diversification. While the global regulatory environment around crypto assets is still uncertain, some countries in Europe have started working on clear regulatory frameworks for digital assets.

“Cryptocurrencies provide a way for investors to diversify their portfolios and earn yield. However, to support the growth of this market, more must be done to help support these individuals to make the right decisions. Coinbase is committed to supporting growth in this area but so too must be other leading crypto players, regulators and Government,” the Coinbase Spokesperson added.

Coinbase recently introduced Coinbase Intelligence for cryptocurrency compliance at scale.