United Kingdom | 2021

Cryptocurrency adoption in The United Kingdom in 2021

5

%

of British own cryptocurrency

How many cryptocurrencies owners in United Kingdom?

It is estimated that over 3.3 million people, 5% of United Kingdom’s total population, currently own cryptocurrency.

A total of 6 reports and surveys were used. These sources were then weighted and combined to derive the final estimate. The sources were weighted based on
i) year of the report
ii) scale of the research
iii) credibility of the research

A weightage score of 1 to 3 is given to each source with 3 being the most reliable.

Source Estimated amount Year Weightage
Binance 1,569,544 2021 2.33
Financial Conduct Authority of United Kingdom 2,620,400 2020 2.67
Deutsche Bank 2,715,440 2020 2.33
Bitpanda 2,715,440 2019 2.00
Hootsuite 4,752,020 2020 1.67
Gemini 2,511,782 2021 2.00

United Kingdom - next cryptocurrencies hub?

There is increasing interest in cryptocurrency as seen in the rising online searches of the topic “Cryptocurrency” and “Bitcoin” on Google Trends.

In 2018, a survey conducted by ING found that 61% of British residents had heard of cryptocurrency. Comparing this with 2019 survey results from IE CGC, more Britons (71%) have heard of cryptocurrencies. This suggests a growing interest among Britons in purchasing cryptocurrency since 2018.

Have you heard of cryptocurrency?

What do British cryptocurrencies owners look like?

Cryptocurrency owners in United Kingdom are more likely to be males (79%) over the age of 35 (69%). In addition, 73% of cryptocurrencies owners are classified in the highest ABC1 NRS social grade.

Breaking down cryptocurrency ownership by income, ownership levels are higher among the wealthy. 40% of the surveyed Britons who own cryptocurrency have income over £200,000, and 18% of them with income ranging from £100,000 to £200,000.

Majority of the United Kingdom’s cryptocurrency owners are in the 18-34 age group (33%). 4% of them are 55 and above. This shows that cryptocurrencies are largely owned by young, tech-savy and affluent Britons.

Highly educated Britons are more likely to own cryptocurrencies, 21% of them hold a doctorate education and equivalent, while 7% with a secondary education. On top of that, a higher percentage of Briton men (10%) own cryptocurrencies than women (6%).

Do you use Cryptocurrency for payments?

Purpose of cryptocurrency ownership

42% of Briton cryptocurrency owners are already using cryptocurrency to make purchases, while the rest own cryptocurrency solely for investment purposes.

 

Cryptocurrencies's rising popularity in United Kingdom

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