This analysis looks at cryptoasset holdings in the UK and consumers’ understanding, attitudes and behavioural patterns towards them.
Read the research note (PDF)[1]
YouGov carried out research on our behalf with a nationally representative sample of 2,199 UK adults, including a boost of cryptoasset users.
As of August 2024, the research suggests:
- 93% of UK adults have heard of cryptoassets
- 12% of UK adults own cryptoassets – extrapolated to around 7 million adults
Increasingly, consumers are:
- considering cryptoassets as part of ‘a wider investment portfolio’
- influenced by ‘friends and family’, with 20% of people stating this was the main reason for purchase
- buying cryptoassets either through their own long-term savings (19% in 2022, 26% in 2024) or through use of a credit card or overdraft (6% in 2022, 14% in 2024)
The research also helps us to understand how consumer demand for cryptoassets has been affected by:
- the crypto market crash in 2022
- the cost-of-living crisis
- criminal charges against the CEOs of large exchanges
- rising cryptoasset valuations since the end of 2023
Investing in crypto remains unregulated and high-risk – if you invest, you should be prepared to lose all your money.
We are considering the risks of cryptoassets and how to mitigate or reduce them through our policy work.
We are conscious of how regulation can influence consumer behaviour. For example, 26% of non-cryptoasset users reported that they would be more likely to buy cryptoassets if the market and activities were regulated.
Authors
YouGov, on behalf of the FCA.
Disclaimer
Research notes contribute to our work by providing rigorous research results and stimulating debate. While they may not necessarily represent the position of the FCA, they are one source of evidence we may use to discharge our functions and inform our views. We strive to ensure research outputs are accurate, through checks including independent referee reports, but the nature of such research and choice of research methods is a matter for the authors using their expert judgement. To the extent that research notes contain any errors or omissions, they should be attributed to the individual authors, rather than the FCA.