Survey: The British bought more cryptocurrencies than stocks

A recent survey showed that an increasing percentage of UK investors surveyed invested their funds in cryptocurrencies rather than stocks and made a profit. Interest in cryptocurrencies in the country continues to grow.

Survey – More cryptocurrencies, fewer stocks

A new survey by the British investment company AJ Bell showed that 7% of British respondents bought cryptocurrencies in the last year, compared to 5% of people who invested in stocks. A total of 1,269 respondents from all corners of the country were addressed.

AJ Bell’s financial analyst, Laith Khalaf, said the results of the survey disproved the common perception of traditional stocks and the world of cryptocurrencies. Cryptocurrency investors are predominantly male and are under 35 years old.

A total of 71% of respondents said they had made a profit with cryptocurrencies. The loss was recorded by “only” 12% of respondents. The rest of the respondents in the survey state that they are not dealing with the sale of their digital assets yet and are waiting for new opportunities.

The survey also states that younger people have more confidence in understanding cryptocurrencies than the older generation. However, Khalaf recommended investing in a diversified portfolio that is not just about cryptocurrencies. He stated:

“The younger generation buying only cryptocurrencies shows that they have accumulated a few digital assets so far and could seriously damage their finances if the price of cryptocurrencies falls sharply.”

Investing in cryptocurrencies is currently showing no signs of slowing down.

Conclusion

With the growing popularity of cryptocurrencies, the number of retail and institutional investors entering the cryptocurrency industry is also growing. Fear of high inflation caused not only by the Covid-19 coronavirus pandemic also contributes to the crypt’s popularity. You can read the entire AJ Bell survey under the attached link HERE.