A survey of investors across the UK has revealed growing interest in new asset classes that threaten to outsmart traditional finance, driven by factors such as ease of access and a young cryptocurrency market.
Among 2,000 UK residents surveyed by OnePoll via Tokenise, 81% of respondents chose tokens as a safer and more reliable alternative to traditional investments such as gold, oil, stocks and real estate:
“Given the difficult climate for traditional investment vehicles due to the pandemic, low interest rates and inflation, it is time for the coin to take center stage.”
24% of participants showed interest in investing in tokens or non-fungible tokens (NFTs) in 2022, highlighting the “decisive turning point” for token adoption. As a result, the growing interest is complemented by an increase in the number of providers and exchanges looking to capitalize on the demand.
Some of the key drivers behind the nearly 55% of existing crypto investors across the UK include influencer marketing through artists, musicians and collectors, while 49% are related to the ability to shop through app-based marketplaces:
“About 41% of Londoners are ready to buy, use or exchange a token (like NFT) by 2022.”
The most prominent age group (46%) preferring to invest in tokens and NFTs in the UK are those aged 18-24, 53% of whom cited the ability to invest through apps or web portals as a top factor.
On the other hand, the survey showed the importance of education in promoting crypto investments. The survey also highlights the importance of regulated exchanges:
“When it comes to tokens, almost half or 47% have not yet invested because they don’t know enough about tokens and 34% don’t know an easy and safe way to invest.”
Research also shows that women are less affected by tokens and NFTs than men, but they prefer the same number of online investment platforms. Interestingly, 59% of female investors said they looked for some sort of correlation with the underlying asset before investing.
RELATED: The Financial Conduct Authority (FCA) issues a cease and desist order for Bitcoin ATMs.
On March 11, the UK’s central financial regulator, the Financial Conduct Authority (FCA), ordered the immediate closure of all unregistered ATMs or additional unannounced measures.
As Cointelegraph reported, the Financial Conduct Authority (FCA) cited three main reasons for the sudden rollout: a lack of organizational structure, the potential for high asset volatility risk, and the importance of adhering to the principles set out in anti-money laundering regulations.