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More Brits bought crypto than stocks last year, survey finds

More Brits bought crypto than stocks last year, survey finds
New research by UK investment firm AJ Bell shows that 7% of British adult respondents reported they had bought crypto over the last year, compared to 5% who invested in stocks and shares ISAs (individual savings accounts).

The research suggests that Britons have become more eager to invest in cryptocurrencies than in traditional stocks and shares-based investments.

“When more people are buying cryptocurrency than investing in a stock market ISA, you have to conclude the world’s gone crypto crazy,” financial analyst at AJ Bell Laith Khalaf said about the results.

Also on rt.com Cryptocurrency investors should be prepared to lose all their money – Bank of England

According to the research, Britain’s crypto investors are predominantly male and under 35. More than 70% of those who said they had bought crypto assets claimed to have made a profit, while 12% reported making a loss in the past year. Meanwhile, 17% said they did not even know if they had made a profit or loss with their crypto investments.

The survey, however, contrasts with UK think tank Parliament Street’s research from March which reveals that 52% of the 2,000 respondents in its survey were more likely to invest in the stock market and traditional assets, such as gold, than in crypto. A third of the respondents said they will not invest in crypto as they believe they have already “missed the boat.”

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