UK ranked third for ether ownership, study finds

Bitcoin is the most popular cryptocurrency among Brits, followed by ether and XRP

Ether (ETH) logo                                 
UK citizens rank third for ether holdings worldwide, survey says – Photo: Shutterstock
                                

A new survey conducted by Finder has found that the UK ranks third globally for Ethereum adoption, lagging behind only Singapore and Australia. 

The UK’s ether ownership consolidated at 32.9%, with bitcoin still ranking as the most popular cryptocurrency with 42.8% of user ownership.

Ripple (XRP) ranked as the third most widely held cryptocurrency at 17.4%.

Global adoption

The global rate of adoption for cryptocurrencies is growing fast, with the sector slowly taking precedence over stocks and other digital assets and currencies, especially among younger investors.

However, adoption in the UK has been slow since October 2021 – rising by only 1% from from 5.2% to 6.1%, while crypto ownership globally jumped from 11.2% in October 2021 to 15.5% in December 2021. Bitcoin ownership came in above the global average in the UK, with 42.8% of crypto owners saying they hold the popular cryptocurrency.

But the overall trend in crypto adoption is positive: there were about 1.5 million people in the UK who owned some form of cryptocurrency in 2018. This figure had grown to just shy of 10 million people by February 2021, the six-fold increase in the number of crypto owners a clear indicator of growing adoption in the UK.

Additionally, 23% of users believe cryptocurrencies will soon become a go-to way of handling transactions, with almost around 500 businesses in the UK now accepting cryptocurrency as a payment method.

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