New data from Gemini, the cryptocurrency exchange and custodian, presents the demographic profile of existing and potential crypto investors in the UK market.
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The results of a nationally representative survey of 2,000 respondents challenge certain long-held stereotypes about consumer engagement with digital assets, while reinforcing other past research.
The most significant trends are outlined in the Gemini State of Crypto Report 2021. The Report builds a picture of how factors such as gender, age, family status, educational attainment, income, location, technology usage, and the COVID-19 pandemic impact crypto investment.
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Key findings include:
• More women are actively engaging with crypto than ever before, making up 41.6% of current and previous UK crypto investors.
• Crypto investors are not exclusively from younger age brackets, falling within three main age categories: 18-24 (27.5%), 25-34 (33.1%), and 35-44 (24.2%).
• It is not only the uber wealthy investing, with 91.8% of current and previous cryptocurrency investors recording a household income of under £100,000.
• Most crypto investors are in Greater London (21.9%), but the West Midlands have 14.6% of current investors, a high figure given the percentage of the population in the region (8.9%).
• Crypto investors are more likely to increase their investments over the next year, with nearly half (47.8%) planning to invest more, compared to one third of overall respondents.
Blair Halliday, Head of UK at Gemini, said, “This new data demonstrates an increasingly diverse base engaging with crypto and indicates how the market is likely to evolve over the longer term. As the industry develops, there are more safe, secure, and regulated platforms available for trading and investing, meaning crypto has never been more accessible. We expect the reach of crypto to widen further, particularly as the 9.0% who are interested in crypto enter the market. The sector has a huge opportunity to educate the 38.7% of respondents who either do not know anything at all about crypto, or do not know enough to invest.”
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