Overview
This analysis examines cryptoasset holdings among UK consumers, exploring their understanding, attitudes, and behavioral trends. The research highlights market penetration, investment motivations, and external factors influencing demand.
Key Findings (Updated March 2025)
- Awareness: 93% of UK adults are familiar with cryptoassets.
- Ownership: 12% (approx. 7 million adults) hold cryptoassets.
Consumer Behavior Shifts
- Portfolio Integration: Cryptoassets are increasingly viewed as part of diversified investment strategies.
- Influence Channels: 20% of buyers cited "friends and family" as their primary motivator.
Funding Sources:
- Long-term savings: 26% (up from 19% in 2022).
- Credit/overdrafts: 14% (up from 6% in 2022).
Market Influences
Demand fluctuations correlate with:
- 2022 crypto market crash.
- Cost-of-living pressures.
- Legal actions against exchange CEOs.
- Rising asset valuations post-2023.
Regulatory Context
Crypto investments remain unregulated and high-risk. The FCA explores policy measures to mitigate risks while noting that 26% of non-users would engage more if regulations were implemented.
Methodology
- Sample: 2,199 UK adults (including a crypto-user boost) via YouGov.
- Timeframe: Data reflects conditions as of August 2024.
FAQs
1. How accurate is this research?
The March 2025 update corrected prior data errors (detailed in the YouGov report).
2. Why are more people using credit to buy crypto?
Economic strains and FOMO may drive riskier financial decisions.
3. Does the FCA endorse cryptoassets?
No. The FCA emphasizes their high-risk, unregulated nature.
Disclaimer
Research notes inform FCA policy but don’t represent official stances. Accuracy relies on author expertise, with errors attributed solely to the authors.