New research from UK-based money app Ziglu reveals that 11 per cent of UK adults are contemplating buying cryptocurrencies for the first time over the next 12 months. Some 3 per cent – around 1.57 million people – say they will definitely buy their first cryptocurrencies in the next 12 months, and 8 per cent – 4.2 million people – say it is quite likely they will do this.
Ziglu’s research shows that one in 10 UK adults currently already own cryptocurrencies. In terms of why people are planning to buy their first cryptocurrencies, 29 per cent said it is because it has become easier to test the market by buying a small amount.
This is followed by 27 per cent who said they plan to buy because they expect valuations to increase. Just over one in four (26 per cent) said it’s because the crypto market is becoming more mainstream and 23 per cent said it’s because security levels are improving. Other reasons given are providers are making it cheaper and easier to buy cryptocurrencies, regulations are improving and 8 per cent said it is because they are being encouraged to buy by loved ones.
Mark Hipperson, Founder and CEO of Ziglu says: “Cryptocurrencies are becoming increasingly mainstream. Our findings show that around 39 per cent of people who own cryptocurrencies first bought them in the past 12 months, and a huge number of people plan to become first-time buyers over the next 12 months.
“There is a wide range of choice for people in terms of platforms to use, but they should focus on how easy the platforms are for first-time buyers, the fees for small transactions, and in particular security and levels of insurance offered to protect your assets.”