Cryptocurrency Holders Rises to 2.3 Million in UK; BTC, XRP, ETH Among Top Choices

Published by
Cryptocurrency Holders Rises to 2.3 Million in UK; BTC, XRP, ETH Among Top Choices

Financial Conduct Authority (FCA) has confirmed an increase in the number of cryptocurrency holders in UK, arising from an increase in public interest and media coverage. Based on the findings from its recently conducted research, the FCA discovered a growing involvement of financial services players in the digital currency ecosystem, as well as increased interest from the government.

Advertisement

FCA Releases Report Confirming Rise in Crypto Adoption

Per the findings of the research, it was discovered that the number of crypto holders increased to 2.3 million, representing a growth from 3.9% to 4.4% of surveyed adults. Per the ownership terms, the average holdings also grew from £260 to £300 while the profile of crypto users is broadly unchanged from what was outlined in its 2020 report comprising majorly of males, over 35, and at AB social grade.

Per the report, as many as 78% of UK adults have heard about cryptocurrencies, a metric that has grown steadily across three major years including 2019, 2020, and 2021.

Advertisement

Other Key Highlights of the Report

While there are thousands of digital currencies out there, with new tokens being launched on a daily basis, the FCA report showed that Bitcoin (BTC), XRP, and Ethereum (ETH) are the top three most popular cryptocurrencies amongst UK investors. Bitcoin has the highest recognition with its percentage rising from 78% in 2020 to 82%.

However, despite the growing popularity of cryptocurrencies, the FCA indicated that “the overall level of understanding has fallen,” the report reads “This suggests there may be a risk of consumers engaging with cryptocurrency without a clear understanding of it.”

Per the report, only 71% of those profiled were able to correctly identify its definition from a list of statements.

The trend is significant in that it highlights a decline in understanding and a tilt towards the bandwagon effect-an an instance where people invest due to general public prompting.

Cryptocurrencies and their accompanying is becoming more popular by the day. While the UK report is unique to the country, the general level of awareness is growing, a situation that is drawing potential regulatory proposals amongst world governments.

Advertisement
Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Altcoin News

Here’s Why Zcash (ZEC) Price Tanked 10% Today Following 500% Rally

Zcash price tumbled over 10% in the last 24 hours after a more than 500%…

October 28, 2025
  • News

Litecoin Price Jumps, What’s Behind the Sudden Rally? (28 oct)

Litecoin price has once again rallied 3% today, reclaiming above the $100 resistance, while extending…

October 28, 2025
  • News

Metaplanet Stock Surges 10% on Share Repurchase, Capital Allocation Policy

Fourth-largest Bitcoin treasury Metaplanet on Tuesday announced plans to establish a new capital allocation policy,…

October 28, 2025
  • interviews

AI Meets Smart Routing: Screx Sets a new efficiency Benchmark in DeFi

The current ecosystem in which all the core DeFi tasks have been so fragmented and…

October 28, 2025
  • News

Bitwise Solana Staking ETF (BSOL), Canary Litecoin and HBAR ETFs to Launch Today

Exchanges have filed listing notices for Bitwise Solana Staking ETF (BSOL), Canary Litecoin ETF (LTCC),…

October 28, 2025
  • News

Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”

Crypto market analyst Adam Livingston has sharply criticized S&P Global Ratings after the agency assigned…

October 28, 2025