United Kingdom

6.2% of the British population owns cryptocurrency

How many cryptocurrency owners are in the United Kingdom?

It is estimated that 4.2 million people, 6.2% of the United Kingdom’s total population, currently own cryptocurrency.

British cryptocurrencies ownership demographics

Breaking down cryptocurrency ownership by income, ownership levels are higher among the wealthy. 40% of the surveyed Britons who own cryptocurrency have income over £200,000, and 18% of them have income ranging from £100,000 to £200,000.

Majority of the United Kingdom’s cryptocurrency owners are in the 18-34 age group (56%). Only 4.6% of them are 55 and above. This suggests that cryptocurrencies are largely owned by younger Britons.

UK cryptocurrency owners are likely to be highly educated, with 46% holding a bachelor’s degree or higher.

Main findings

According to the survey, 74% of UK adults had heard of cryptocurrencies in 2021. We see a 3 percentage-point rise, compared to 71% in 2020. This suggests a growing awareness among Britons regarding cryptocurrency.

We see 6.2% of UK adults currently hold cryptocurrency, or approximately 4.2 million people in 2021. By comparison, our data shows that cryptocurrency ownership in the UK has risen rapidly from 4.95% in 2020.

Bitcoin remains the most popular cryptocurrency among UK cryptocurrency owners, with more than 62% of respondents holding it. Ethereum follows closely in second place with the cryptocurrencies’ wide application cases, followed by Ripple (XRP), Tether (USDT) and other Altcoins.

People are increasingly viewing cryptocurrency as a safe asset and alternative to national currencies, with more than 63% of UK cryptocurrency owners holding more than £1,000 in crypto. A significant proportion of owners (19%) also hold more than £10,000 in cryptocurrency.

Cryptocurrency purchase attitudes

The number of UK cryptocurrencies owners using cryptocurrencies for purchases are also seeing rapid growth, with 2021 marking an exponential increase of 10 percentage points (y-o-y growth) in purchases made using cryptocurrency.

, ranging from Entertainment, E-commerce,More than 52% of UK cryptocurrency owners use cryptocurrencies for spending.

Almost 60% of UK cryptocurrency spenders are spending more than £100 of cryptocurrencies for purchases monthly, with a sizeable crowd (26%) being large spenders of more than £1,000 monthly

Survey results show that cryptocurrency payment services are eagerly anticipated across the retail industry. Respondents showed interest in all the major categories ranging from Entertainment, E-commerce and Luxury Retail, etc.

Future Outlook

Cryptocurrency is gaining the attention it deserves. 2021 was the year cryptocurrency was in the spotlight, as major institutions, celebrities, and public figures all jumped on the bandwagon. Bitcoin and other cryptocurrencies also broke through all-time highs.

More than a third of UK survey respondents (38%) plan to increase their cryptocurrency holdings over the next year.

The majority of non-digital-currency respondents (70%) cited a lack of knowledge as the reason they did not own cryptocurrency, suggesting strong potential to increase cryptocurrency adoption through targeted education and awareness.

Additionally, greater adoption of cryptocurrency payment options across merchants can have a network effect, accelerating its adoption among the populace, given that 24.9% of respondents cited not owning cryptocurrency because their current merchants do not accept it.