Cryptocurrency Statistics UK

The realm of cryptocurrency is still under the veil of mystery for many. But this ought not to be the case. Cryptocurrency statistics UK show that in 2021 almost a fifth of people owned some. Why? For various reasons, some well thought through, others not as much. 

Looking for a good reason to delve into the field of cryptocurrency? Perhaps you’re still cautious about investing and want to settle your mind once and for all? 

No matter why you’re here, the cryptocurrency facts we’ve chosen will give you a broader perspective. Just to get the gist of it, check out these ten most interesting ones:

Top 10 Cryptocurrency Statistics UK

  • 9.8 million Britons owned cryptocurrency as of February 2021.
  • Bitcoin dominates with a 60% cryptocurrency market share.
  • Coinbase had more than 100,000 daily active users in the UK in January of 2021.
  • Over a fifth of the British were introduced to crypto through online news.
  • The market capitalisation for Bitcoin is 814 billion British pounds.
  • Half of the cryptocurrency owners had less than £260 worth.
  • 46% of owners store cryptocurrency where it was bought.
  • Almost 500 businesses in the UK accepted cryptocurrency as a payment method.
  • 63% of the British stored or traded cryptocurrency over Coinbase.
  • Close to 30% of cryptocurrency owners in the UK were aged 18 to 29.

UK Cryptocurrency Usage Statistics 

There were 9.8 million British cryptocurrency owners as of February of 2021

When observing cryptocurrency growth, statistics send a clear message. About 1.5 million people in the UK owned some cryptocurrency in 2018, growing to an estimated 9.8 million by February of 2021. A six-fold increase in the number of cryptocurrency owners in three year’s time serves as a clear indicator of the high cryptocurrency adoption rate in the UK.

Bitcoin has a 60% cryptocurrency market share in 2021

The cryptocurrency top-list is not a steady one. One riding high in April might be shot down in May. That’s life for cryptocurrency. Over a thousand have failed in 2019 only. Now, Bitcoin emerged first on the scene. Statistics regularly confirm it takes around half of the market share, and most markets evaluate other cryptocurrencies against it. We might as well deem it to be the best cryptocurrency, then.

Only London had more than 100 cryptocurrency ATMs in 2021

In 2021, there were almost 230 ATMs for cryptocurrency in all of the UK. These were distributed quite unevenly, as 141 were in London. As for the rest of the UK, only two other cities had more than ten – Birmingham (23) and Manchester (13). Cardiff came in fourth with seven ATMs, followed by Leeds that had four.

Coinbase had more than 100,000 daily active users (DAU) in the UK in January of 2021

While other contenders such as Binance and eToro saw a considerable increase in DAU between December of 2020 and January of 2021, San Francisco based Coinbase still holds a significant lead in cryptocurrency charts by DAU.

Online news and traditional media introduced most Britons to cryptocurrencies

Cryptocurrency stats reveal that as of December of 2018, most people in the UK found out about cryptoassets through online news (23%) and traditional media (22%). 

Other most common sources of information were friends and family (16%), social media (15%) and online adverts (10%). Compared to this, people were least likely to be introduced to cryptoassets through traditional adverts (6%), by colleagues (5%) or in school or university (1%).

Cryptocurrency Market in the UK

Bitcoin’s market capitalisation is 814 billion British pounds

A cryptocurrency market cap is calculated by multiplying its reference price by its current circulating supply. Let’s take Bitcoin as our example. It is undoubtedly one of the main cryptocurrencies, with a cost of around £44,000. With more than 18.5 million Bitcoins circulating, its crypto market cap comes to about 814 billion British pounds.

Half of the owners had less than £260 worth of cryptocurrency

As one FCA’s cryptoasset consumer research revealed in 2020, around half of 315 cryptocurrency owners surveyed had less than £260 in cryptocurrencies, 5% had £7,000 or more, and 1% had more than £22,588.

46% of owners store cryptocurrency where they bought it

34% of people moved theirs to another online cryptocurrency wallet, 20% decided to hold it offline on their hardware, and 10% wouldn’t disclose where they keep it. It seems the most popular way to handle cryptoassets is having them stored on the exchange where you bought them.

What makes for the most volatile cryptocurrency?

A volatile cryptocurrency is one whose value goes up and down aggressively within a short period, by 10% to 20% of its average value, if not more. 

This type of cryptocurrency will be on the daily trader’s radar since significant changes in its value quickly occur, allowing for more frequent trading gains. One important thing to remember – just as easily as its value surges, it can suffer a precipitous drop.

So, how many cryptocurrencies can be considered volatile? In February of 2020, for example, the ratio between the values of cryptocurrencies Tron, Steen and Bitshare to Bitcoin value has risen and dropped by more than 50%, sometimes in less than a week.

Most Britons bought or intend to buy cryptocurrency because they expect it to be influential in the future

23% of people who either own or intend to buy cryptocurrency believe it will be a go-to mode of transaction in the coming times.

21% of people saw savings accounts’ interest rates being too low or the accessibility of cryptocurrency through dedicated investing platforms as a reason to buy it.

20% bought cryptocurrency after considering its potential to make money. The same percentage of people wanted to get involved with cryptocurrency as more and more have.

Close to one fifth (19%) of people bought or want to buy cryptocurrency because they see it as an easy way to make money. 16% wanted to get in after hearing influential people talking about cryptocurrency.

Close to 500 businesses in the UK accepted cryptocurrency as a payment method as of March 2021

Most of the 495 businesses that offered in-store payment in cryptocurrency or had a cryptocurrency ATM were in consumer electronics (44) and IT services (39). Who followed? Quick service and casual dining restaurants (29), cryptocurrency services and media (18), cafes and coffee shops (16).

Coinbase was the most popular cryptocurrency exchange in the UK in 2019

With 63% of the British storing or trading cryptocurrency there, Coinbase was the most popular of UK bitcoin exchanges, far ahead of its competitors Binance (15%), Kraken (10%), Bittrex (8%) and Bitfinex (7%).

More than half of Britons in IT expect blockchain technology to develop significantly in the next decade

After being asked, in October of 2019, what technologies they expect will significantly change in the decade ahead of us, many in the UK’s IT community put voice and real-time translation (89%) and artificial intelligence or augmenting software (88%)  first in line to experience great advancements. 52% expected substantial development in the field of blockchain technology.

UK Cryptocurrency Demographics 

In 2020, almost 30% of the UK‘s cryptocurrency owners were aged 18 to 29

The younger the person, the more likely she or he is to own cryptocurrency. In October of 2020, 29% of those 18 to 29 years old owned cryptocurrency. The share was 24.5% for 30 to 44-year-olds, 15% for people aged 45 to 60 and 1.5% for those aged 60 or older. 

Interestingly, the average age for those richest in cryptocurrency (42) was much lower than that for the wealthiest in the word’s traditional sense (67).

Almost a fifth of women in the UK owned a digital coin in 2020

Observing blockchain statistics in light of gender differences gives an interesting perspective. Cryptocurrency figures for October of 2020 show 27.6% of men older than 18 own a cryptocurrency, in contrast to 17.1% of women.

Those earning up to £9,999 made up 5% of cryptocurrency owners

As seen in the Financial Conduct Authority’s cryptoasset consumer research, the income distribution among cryptocurrency owners follows no apparent pattern. Most owners (16%) had an annual income of £20,000 – £29,999, and least (5%) earned £0 – £9,999. Of the 515 people surveyed, 9% had an annual income over £100,000.

People in the East Midlands and South East England knew their cryptocurrencies best in 2018

More than a third (34%) of East Midlands and South East England inhabitants could provide a correct definition of the term “cryptocurrency”. Those living in Northern Ireland and the East of England were almost as knowledgeable (33%). The Welsh (31%) and Londoners (29%) were also high on the list, while those least informed lived in North West England and West Midlands (19%).

Wrap Up

The number of people owning cryptocurrency is steadily increasing, the network of crypto ATMs slowly expanding to the periphery of the United Kingdom, and the number of businesses that accept Bitcoin payment is on the rise. With all this going on, one needs to be quite indifferent to noticeable changes in his or her world to dismiss the cryptocurrency universe as a mere technological fad. 

Looking for reasons to be cautious is a good mode of thinking, one that gives a sharp edge to those who employ it through constant acknowledgement of critical thoughts, one’s own or those of experts, friends and family. Still, worth remembering is the factor that will play a crucial role in establishing any trend – the popularity factor. It’s what, among other factors, made so many people switch from MySpace to Facebook, then venture into Instagram, start taking TikTok into account soon after, and now hoping for a chance to join Clubhouse. 

What cryptocurrency statistics UK tell us is that, regardless of our understanding of the underlying technology, be it revolutionary or not, the value of Bitcoin, Etherium, Ripple and others depends mainly on the number of people who believe in it and how firmly they do so.

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