Gemini research flags 2021 as breakout year for crypto adoption
18% UK adults now own cryptocurrency, according to research from Cameron and Tyler Winklevoss founded crypto platform Gemini.
According to the 2022 Global State of Crypto Report, spanning 29,293 adults in 20 countries, including 2,300 people in the UK, adoption of Bitcoin et al has accelerated rapidly in the last 12 months, with 45% of these investors first buying in the past year.
35% of UK cryptocurrency investors, meanwhile, are female.
The UK’s crypto ownership is similar to major European markets, such as Ireland (18%) and Germany (17%), and in line with developed nations including Australia and the US (18% and 20% respectively).
Compared globally, Europe is more conservative, with the highest ownership in Brazil (41%), Indonesia (41%) and the United Arab Emirates (35%).
49% of UK respondents who do not currently own crypto say they are interested in learning more or likely to buy it in the next 12 months. Of this group, the majority (55%) are women.
Other key highlights of the report: the average age of investors is 36, with 62% of investors aged 25-44; crypto ownership is highest in London (23%), followed by the North West (12%), South East (11%) and East Anglia (11%); the most commonly owned currencies by UK investors are Bitcoin (69%) followed by Ethereum (33%).
Blair Halliday, Head of UK at Gemini, says: “Last year was transformational for cryptocurrency ownership, with significant growth in UK adoption.”
“A high proportion of UK investors see crypto as a long-term store of value, suggesting more people are recognising crypto’s part to play in a diversified investment portfolio.”
“There is a huge opportunity to support those who expressed interest in learning more, and Gemini is focused on providing simple tools and high quality education to enable the curious consumers to start their journey.”
