An international survey on investor attitudes has uncovered that a third of British retail investors are keen to put their funds into cryptocurrency, despite a lack of knowledge on the subject. The recent survey, which was commissioned by Bitstamp, a well-established cryptocurrency exchange, showed that 40% of UK respondents had invested in crypto.
UK investors who lack an understanding of digital assets such as crypto often seek out independent financial advice in Chester, Manchester and other major cities. Wealth managers are often consulted for the unbiased guidance they can offer and the simple language they use to explain investment opportunities to clients.
However, despite many investors stating that they had invested in cryptocurrency, 31% reported that they were interested in doing so, but felt they lacked the understanding necessary to pledge their funds into it.
According to the report, the three top barriers to crypto investing in the UK included; a lack of crypto knowledge, which 55 per cent of people cited as a factor; insecurity and lack of trust in crypto trading platforms, which 40% argued prevented them from investing, and a fear of the risks associated with crypto being too high for personal tastes, accounting for 36% of concerns.
The survey also found that almost 50% of all respondents in Britain would feel comfortable paying for their everyday items such as clothing or groceries using cryptocurrency.
However, over a fifth of those surveyed did not believe that the crypto market is adequately regulated, commenting that they looked to the Government and regulatory bodies to increase supervision of this new industry.
