NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

Still Early For Bitcoin: Most UK Consumers Can’t Define Cryptocurrency

Rick Delafont
Rick Delafont
6 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A pair of surveys has found that over two thirds of British consumers do not even know what cryptocurrency is. Meanwhile, less than 2 percent have ever bought crypto for more than £200.

Unsurprisingly, as one of the centres of global finance, London leads the nation in self-proclaimed cryptocurrency understanding. However, actual use in either retail or investment remains low.

UK’s Cryptocurrency Use Remains Low

A pair of surveys conducted by the UK’s Financial Conduct Authority (FCA) as a follow up to an earlier joint report by the Bank of England, HM Treasury, and FCA into cryptocurrency have been published today. The first was conducted by Revealing Reality and asked 31 cryptocurrency investors of their buying habits, motives, and attitudes towards digital assets.

The second, by Kantar TNS, asked a sample of 2,132 UK consumers about their knowledge of digital assets and if they had ever bought any cryptocurrencies.

The results showed that only 27 percent of the sample claimed to have insight into cryptocurrency. Understandably, the UK’s capital, London – being a centre of global finance – fared marginally better in overall crypto knowledge with 29 percent of the respondents from the city claiming to grasp the topic.

Perhaps more interesting for those that think they have missed the proverbial boat on Bitcoin and other digital assets, only three percent of those surveyed stated that they had ever bought cryptocurrency. Of that number, around half had only spent £200 or less.

According to the findings of the studies, some who had invested in digital assets had done so purely on the hope of “getting rich quick”. Around half of those investing in cryptocurrency said they were most hopeful about Bitcoin (BTC) long-term. Meanwhile, a third favoured Ether (ETH).

Christopher Woolard, the FCA’s strategy and competition executive director, stated of the findings:

“The results suggest that although crypto assets may not be well understood by many consumers, the vast majority don’t buy or use them currently…Whilst the research suggests some harm to individual crypto asset users, it does not suggest a large impact on wider society.”

He added that those deciding to invest in such “complex, volatile products” should not be surprised if they lose all their money.

Still Early Days for Bitcoin and Crypto

The findings of the recently published FCA survey support the opinion of several thought leaders in the cryptocurrency space. Some have drawn comparisons to Bitcoin’s entire market capitalisation versus the net worth of the richest folk in the world:

https://twitter.com/AlecZiupsnys/status/1101153341395161088

Meanwhile others focused more on the technology itself and its opportunity to grow with second layer scaling solutions like the Lightning Network, which has rapidly grown in size since its launch last year:

https://twitter.com/LTC10K/status/1103310151598071813

Finally, others are clearly playing the longest of long games…

2017: "early Bitcoin adopters just got lucky. It's unfair!"

2037: "early nation-states adopting Bitcoin as currency just got lucky. It's unfair!"

2237: "early interplanetary confederations hoarding massive bitcoin reserves as war-chest just got lucky. It's unfair!"

— FRANCIS – BULLBITCOIN.COM (@francispouliot_) March 1, 2019

 

Related Reading: Bitcoin Acceptance: The Changing Face of Mainstream Media Coverage

Featured Image from Shutterstock.
Tweet123Share211ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Crypto

SEC Chair Declares ‘Crypto’s Time Has Come’ In Latest Statement – Get The Full Scoop

Paul Atkins, the newly appointed chair of the US Securities and Exchange Commission (SEC), has boldly declared that “crypto’s time...

Ronaldo Marquez 2 hours ago
Cardano news Charles Hoskinson

Cardano Founder Hoskinson Says Ethereum Is Doomed To Fail: Here’s How

In a wide-ranging CoinDesk interview released yesterday, Cardano founder Charles Hoskinson sharpened a years-long critique of Ethereum’s long-term viability, arguing...

Jake Simmons 3 hours ago
Ethereum

Ethereum Supply Shock? BitMine Absorbs 319,000 ETH In A Week

BitMine Immersion has reportedly accumulated a staggering 319,000 ETH in just a single week. The massive purchase, worth over a...

Godspower Owie 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

solana

Solana Season Next? Bitwise CIO Eyes ‘Epic’ Q4 Run Fueled By Corporate Demand

Rubmar Garcia 5 minutes ago
wld-price-surges-70-bitcoin-hyper-fuels-new-defi-100x-token-tw

WLD幣價格單日內暴漲70% Bitcoin Hyper推動比特幣DeFi新百倍幣

Mark Mak 23 minutes ago
bitcoin

Bitcoin Miners Shift Strategy: Accumulation Over Selling Signals Stronger Bull Cycle

Ash Tiwari 1 hour ago

Premium Sponsors

Press Releases

  • Първата meme монета с модел „Mine-to-Earn“ PepeNode събра $900K в пресейл – остават 7 часа до края на финансирането

    Първата meme монета с модел...

    10 hours ago
  • Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które osiągną 10 $ przed Ripple (XRP) i Cardano (ADA)

    Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które...

    11 hours ago
  • Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które osiągną 10 $ przed Ripple (XRP) i Cardano (ADA)

    Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które...

    11 hours ago
  • Primul Meme Coin „Mine-to-Earn” PepeNode strânge 4,2 milioane RON în presale – 7 ore rămase în etapa de finanțare

    Primul Meme Coin „Mine-to-Earn” PepeNode strânge 4,2...

    12 hours ago
  • Achizițiile instituționale de Bitcoin se usucă, în timp ce cel mai rapid Layer-2 pe Bitcoin, Bitcoin Hyper (HYPER), atinge 67,7 milioane RON în presale

    Achizițiile instituționale de Bitcoin se usucă, în timp...

    12 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.