United Kingdom | 2021

Digital currency adoption in The United Kingdom in 2021

5

%

of British own digital currency

How many digital currencies owners in United Kingdom?

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

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 digital currencies hub?

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

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

Have you heard of digital currency?

What do British digital currencies owners look like?

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

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

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

Highly educated Britons are more likely to own digital currencies, 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 digital currencies than women (6%).

Do you use Digital currency for payments?

Purpose of digital currency ownership

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

 

Digital currencies's rising popularity in United Kingdom

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