Around 3.86 percent of all people in the UK have cryptocurrencies like Bitcoin. This is the result of a study by the British Financial Market Authority (FCA), which also gives the population extensive knowledge of the volatility and protection of digital assets. According to this, crypto owners are quite well informed about the high volatility and the partial lack of protection of many cryptocurrencies. However, according to the study, around 11 percent assume that crypto assets are protected by consumer protection.
Overall, awareness of the crypto industry has increased. Just under three quarters of all adults in the UK have heard of cryptocurrencies. For comparison: Last year it was significantly less than half of all respondents. The increasing crypto news, in particular via Facebook’s Libra and other planned digital currencies, are primarily responsible for the leap in knowledge. Advertising on the subject of cryptocurrencies is also becoming increasingly widespread and contributing to increasing knowledge about Bitcoin, Tether and Co.
Advertising via cryptocurrencies is also becoming increasingly successful. According to the FCA study, 16 percent of crypto owners were encouraged to buy digital currencies by advertising. Almost half of them at least remember advertisements, while 35 percent were more inclined to invest through appropriate banners.