73% of British Do Not Know What Cryptocurrency Is
FCA (UK) conducted a study and found out that the vast majority of the population has no idea about what cryptocurrency is, or just cannot explain what it means.
During the study, 2132 British were surveyed. 20-44 year old men were the most knowledgeable. Thus, only 3% of consumers have ever bought a cryptocurrency.
Thus, BTC is still the leader. 50% of people prefer to buy BTC while only 34% buy ETH. However, many holders of cryptocurrency do not fully understand how it works. Some respondents would like to buy one coin and save money, although you can buy even a tenth of BTC.
E-CHAT Team’s Opinion
We analyzed the information and found out that for the majority, the main motive for buying cryptocurrency is the desire to get rich quickly. The average amount of spendings is less than 200 pounds. Therefore, such a modest investment does not become a threat to consumers.