There is a surge visible in crypto adoption in the United Kingdom, with a whopping 33% of the Brits having invested in crypto assets, according to a Coinbase report.
The number is up 4% from October 2021, and is second only to the Netherlands’ astounding 47% figure in the whole of Europe.
The figure comes from a study conducted by Qualtrics on behalf of crypto exchange Coinbase. 61% of those who were surveyed aim to raise their holdings in the next 12 months.
About two-thirds of those surveyed intend to grow their holdings in the crypto tokens they already own, compared to only 23% who want to diversify into new assets.
According to the report, Bitcoin is the most widely held cryptocurrency in the United Kingdom with 75% owning it. Ethereum is held by 52% of those surveyed, followed by Dogecoin, and Binance Coin at 34% and 33%, respectively.
Other European countries showed generally lower crypto investments, with Spain (26%), Italy (25%), Germany (24%), and France (17%) falling behind the UK.
Around 11% of survey respondents said they knew a lot about cryptocurrencies other than Bitcoin, a figure that is oddly similar to those who believe they know a lot about traditional investment assets, that is about 13%.
According to a Coinbase spokesperson, the UK’s population of 67M people makes it a major European hub of crypto investment, indicating that a lot of people are interested in digital assets.
The spokesperson noted, “Recent survey work suggests that the adoption trend may continue, with many sharing ambitions to expand the size and diversification of their portfolios.”
The spokesman added that there is more work to be done around improving understanding and awareness of these assets for further wide adoption.
It’s not just the retail market interested in crypto in the United Kingdom. In April, amid debate over stablecoin legislation in the United Kingdom, the Treasury asked the Royal Mint to issue an NFT for the same purpose. The HM Treasury revealed that the government also intends to resolve specific taxation issues related to DeFi loans.
