Rise in crypto ownership in the UK

18 Jan 2022

The results of a survey conducted by Finder.com last month show cryptocurrency ownership in the UK rose from 5.2% to 6.1% since the previous poll was undertaken last October. 

The findings also reveal the dominance of Ether – the world’s second largest cryptocurrency after Bitcoin. Trailing behind Singapore and Australia, the Ether ownership in Britain amongst holders of cryptocurrency consolidated at 39%. The third-most widely held crypto, XRP, consolidated at 17.4%, Cointelegraph reports.

In addition, crypto interest across the 27 countries surveyed by Finder.com shows Ether’s global average adoption rate fell from 28.2% in October to 24.4% in December. Despite global Ether ownership falling, UK ETH holders are holding on.

Perhaps unsurprisingly, the most popular cryptocurrency in the UK, Bitcoin, came in first place at 42.8%, according to this survey. That said, there are also indications of weakness. Although the 42.8% figure shows Bitcoin’s dominance ratio, it has fallen from highs of 56.7%.

Overall, the crypto market fell substantially in December, with the bearish trend seen in crypto behaviour in the UK. At the end of 2021, there was a degree of selling and portfolio rebalancing says Cointelegraph. The ownership of Bitcoin fell, Solana made a 15% ownership gain whilst Dogecoin registered a 1% gain.

Furthermore, just one country reported an increase in Bitcoin ownership in Q4 last year, with Australia’s Bitcoin dominance up 72.7%. The highest proportion of crypto owners worldwide holding Bitcoin was also registered in Australia.

The research by Finder.com also stated: “In the United Kingdom, men are more likely to own cryptocurrency: Roughly 8.3% of men in the United Kingdom say they hold crypto compared to 3.9% of women. This aligns with global trends. Our December research found more men said they owned crypto than women in 24 out of 27 countries surveyed.”

A total of 2,013 people in the UK took part in the survey.