The first thing that you think of when hearing about crypto is possibly the money. And you wouldn’t be wrong to do so, given that hundreds of people became millionaires overnight. They were able to make this money all through cryptocurrencies like Bitcoin, which blew up overnight. But when looking back at the industry, we may never see such a phenomenon again. Or as most investors like to say today, you will never catch lightning in a bottle again.
But even if cryptocurrencies are no longer the money printing machines that people once thought they were, why are some people still investing in them? In fact, why, according to a recent study, do over 5% of UK residents own cryptocurrency.
While some may just say that it is the way that it is because people are following the recent trend of investing in cryptocurrencies that is not always the case. In fact, a major reason why people are investing in crypto is because of the rising prices, ease of accessibility, and even the future prospect that the market holds.
And according to a new study from Brooker chooser, almost 5% of the people in the UK have invested in cryptocurrencies. This number was so high, that it beat out most other western and European countries that the study considered as well. As a matter of fact, the UK had the highest percentage of citizen investment into cryptocurrency in all of Europe. As for internationally, it managed to rank ninth.
Of course, begs the question, which are the top countries in the list? The answer to that might not surprise you but it is Ukraine, Russia, and India. India is especially popular in terms of cryptocurrencies, despite the fact that its government is making efforts to completely eradicate it. As for Ukraine, it is actually soon to become the next hub for crypto mining, now that China has banned cryptocurrencies altogether in a historic move. There are even rumors that it could eventually accept crypto as a secondary tender. However, there is nothing that could substantiate those claims.
The United States on the other hand has had the most searches for the term cryptocurrency in the past 12 months than any other country. The main factor to consider here is that there has been a lot of talk about regulating cryptocurrencies there, which has led people to learn more about the industry every day.
The UK is slowly becoming the next hub for experimenting with cryptocurrencies. Even though they have fallen behind most African countries in terms of usage, they are still developing the technology that people in these countries will use to trade.