11% of UK adults planning to buy cryptos for the first time

Survey finds 8% interested in buying a crypto because of loved one’s encouragement

More than a tenth of UK adults are considering buying into cryptocurrencies for the first time in the next 12 months.

This is according to research conducted by UK-based money app Ziglu, which found 11% of people surveyed are contemplating purchasing a crypto. It also revealed that 3% – equivalent to 1.57 million people – said they will buy a cryptocurrency in the next 12 months, and 8% – 4.2 million people – are quite likely to invest in cryptos.

Currently, said Ziglu, 10% of UK adults already own a crypto. It also found that less than a third of those surveyed (29%) are planning to purchase their first crypto because it has become easier to buy a small amount and test the crypto market.

Additionally, 27% of people want to buy a crypto as they believe the values of digital currencies will increase, while 26% said it is because cryptos have become more mainstream.

Security levels of crypto improving

Just under a quarter (23%) are interested in buying a crypto because security levels are improving while 8% said they had been encouraged to invest by a loved one.

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Mark Hipperson, founder and CEO of Ziglu said: “Cryptocurrencies are becoming increasingly mainstream. Our findings show that around 39% of people who own cryptocurrencies first bought them in the past 12 months, and a huge number of people plan to become first-time buyers over the next 12 months.

“There is a wide range of choice for people in terms of platforms to use, but they should focus on how easy the platforms are for first-time buyers, the fees for small transactions, and in particular security and levels of insurance offered to protect your assets.”

To obtain its survey, Ziglu commissioned Consumer Intelligence, an independent research company, to ask the opinions of 1,011 UK adults over the age of 18.

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Further reading: Cryptocurrency ownership among UK adults almost doubles in last year

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