Men, Londoners, Middle Income Earners, Millennials Dominate Crypto Investment Interest in the U.K.
Men, Londoners, middle income earners, and millennials dominate crypto investment interest in the U.K. That’s according to findings from a recent survey by fintech company Crealogix.
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Crealogix Survey Findings In a Nutshell
Swiss-based fintech company Crealogix recently conducted a survey of 1,200 British consumers from varying age groups, locations, and income levels. The survey revealed a bias toward urban millennials earning decent money when it comes to interest in investing in crypto.
The findings are perhaps not surprising. Those living in London were twice as likely to have held crypto than those outside London, suggesting greater interest in urban than in rural areas.
As the graph below shows, on a salary scale from £15,000 to over £75,000, those earning between £45-55,000 were the most active investors in crypto, just ahead of those earning slightly more, and the high-income group. Low income earners and those earning between £65-75,000 were the least likely to be interested in crypto.
Millennials Dominate Crypto Investment Interest
A January survey by Blockchain Capital in the U.K., which found almost one-third of those aged between 18 and 34 had a preference for buying bitcoin over stocks, bonds, or gold. The same survey found that over 40 percent of millennials had heard of cryptocurrency, compared with only 15 percent among those aged 65 and over.
Crealogix found that millennials dominate crypto investment interest, being five times more likely than baby boomers to have crypto holdings.
Men were found to be up to 28 percent more likely to dabble in crypto than women, which Crealogix suggests is possibly due to less adversity to risk among men and familiarity with the technology. According to a coin.dance survey, women only make up about five percent of the cryptocurrency and blockchain community.
Their most recent graphic demonstrates the gender disparity in bitcoin engagement, with men still occupying over a 90 percent share.
Crealogix To Bring Crypto To the Banking and Investment Management Landscape
Crealogix is a software company that creates consumer-facing digital apps and interfaces for its bank and wealth management company clients. They have recently launched a new product, Invest Crypto, which enables their clients to offer crypto valuation and trading services.
Per Jo Howes, Commercial Director of Crealogix UK:
“In the near future, holding cryptocurrencies in a portfolio will be a popular investment strategy, sharing similarities with long term assets like gold. Crypto holdings also compare to actively traded securities like shares and funds. We enable the digital wealth manager to easily prepare to deliver these future options in their investment applications today.”
Still, cryptocurrency interest among all groups remains low, according to this survey. Even among the more interested segments of the population, interest in cryptocurrency was at less than ten percent. That suggests cryptocurrency has a long way to go before it enters mainstream public consciousness.
How about you? Among people you know, do millennials dominate crypto interest, either in terms of owning it or talking about it?
Images via Pixabay