15.8 Million UK Residents Own or Are Considering Bitcoin

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15.8 Million UK Residents Own or Are Considering Bitcoin

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A recent survey by Bitcoin wallet Luno has shown the desire by UK residents for the launching of a “Bitcoin Barometer” which monitors the numbers of those currently involved in crypto.

The barometer, which was launched today, shows that an estimated 15.8 million UK residents either currently own or would consider owning cryptocurrencies in the future.

The recent survey of 2,000 UK residents by Luno indicates that over a quarter could see Bitcoin as becoming a valid currency in the future, used in the same way as traditional mainstream currencies in circulation. Some 23% wanted more information, a figure born out by previous surveys elsewhere, and a fifth of respondent said that they would like to see Bitcoin used online and in-store in retail.

Again, as other surveys have indicated, trust and understanding remain a key issue as a barrier to wider adoption in the community. Luno’s own figures reflected this with 43% of respondents admitting that they hadn’t purchased cryptocurrencies for this reason and over half called for further regulation.

Maya Kumar, company spokesman and head in the UK and Ireland, commented:

“Our survey showed that just under 2 in 5 (36%) had not purchased cryptocurrencies because they didn’t understand the concept. There are public misunderstandings around cryptocurrencies that lead to this lack of trust. We believe by making cryptocurrencies easier to understand through education and offering a user-friendly, safe platform, more people across the globe can trust, benefit from an upgrade to a better financial system.”

What came through clearly, based on the numbers, is that cryptocurrency is well established in the UK, far more so that many other nations in Europe, such as France where crypto uptake is particularly low. South Korea, Japan, and the UK currently lead the way in general cryptocurrency awareness.

Earlier this year, UK city minister John Glen suggested that regulation could be a “significant boost”  to the local cryptocurrency industry should the government be able to find an appropriate level of regulation.

 

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