With the rising demand for cryptocurrencies, a massive amount of people have started investing in the crypto industry regardless of their expertise. Recently, a report was released by Financial Conduct Authority (FCA), revealing the facts that on a daily basis, people are investing in the crypto industry and keep themselves updated by checking the prices, growth trends, demand, and regulating the volume of virtual assets in the market. The report states that people who have even minimal knowledge about the crypto field are taking an interest in investing.
Interestingly, the report disclosed that in the last few couples of years, people from United Kingdom (UK) the demand for cryptocurrencies has been significantly increased, and now it has reached its peak positing as now UK citizens have shown immense interest in virtual currencies, specifically Bitcoin, recorded highest in 2021 since 2017. A survey shows that more than 78% of adults residing in the UK have shown their acknowledgment of cryptocurrencies, and approximately 2.3 people of the United Kingdom are holding, trading, and investing in cryptocurrencies.
Cryptocurrencies: A reliable asset for investment
A survey conducted by Financial Conduct Authority (FCA) reveals the ongoing trend in the United Kingdom that how the perception of people related to cryptocurrencies is changing and the transition is happening from gambling to worth of considering as an alternative, tender, and a reliable asset for investment as the option of being a gambling asset is dropped to 38%. People have got more awareness related to fluctuating trends of digital currencies as the number of investors who keep the records of crypto prices on a daily basis have been increased to 29%, which more than the double volume recorded in 2020, which was about 13%.
Crypto is foreseeing long-term bullish growth in the UK as the survey conducted by FCA reveals that UK officials are looking for possible ways to make real crypto money for the sake of trading and investments. As compared to the last years, the now-massive UK community is involving in the crypto industry as approximately more than 1.9 million numbers have been carved in the survey.
Bitcoin: All-time King
Throughout all the time, Bitcoin (BTC) has remained the favorite crypto asset for Brits and has been marked to be up by 3% during the last years. Apart from the rise and fall of Bitcoin (BTC) during the last couple of months, still BTC is the leading digital asset of the crypto industry as 66% of the respondents favored Bitcoin (BTC), 35% stood for Ethereum (ETH), 21% voted for Litecoin, XRP got the attention of 18% respondents and Bitcoin Cash sought the attention of 15% in the survey conducted by Financial Conduct Authority (FCA).