New research from UK-based money app Ziglu reveals that 11% of UK adults are contemplating buying cryptocurrencies for the first time over the next 12 months. Some 3% – around 1.57 million people – say they will definitely buy their first cryptocurrencies in the next 12 months, and 8% – 4.2 million people – say it is quite likely they will do this.
Ziglu’s research shows that one in ten UK adults currently already own cryptocurrencies.
In terms of why people are planning to buy their first cryptocurrencies, 29% said it is because it has become easier to test the market by buying a small amount. Indeed, with Ziglu the minimum purchase is £1.
This is followed by 27% who said they plan to buy because they expect valuations to increase. Just over one in four (26%) said it’s because the crypto market is becoming more mainstream and 23% said it’s because security levels are improving.
Other reasons given are that providers are making it cheaper and easier to buy cryptocurrencies, regulations are improving and 8% said it is because they are being encouraged to buy by loved ones.
Mark Hipperson, Founder and CEO of Ziglu said: “Cryptocurrencies are becoming increasingly mainstream. Our findings show that around 39% of people who own cryptocurrencies first bought them in the past 12 months, and a huge number of people plan to become first-time buyers over the next 12 months.”
There is a wide range of choice for traders in terms of platforms to use, but they should focus on how easy the platforms are for first-time buyers, the fees for small transactions, and in particular security and levels of insurance offered to protect your assets.
Ziglu offers clients access to Bitcoin, Bitcoin Cash, Cardano, Ether, Litecoin, Tezos and LINK. With no hidden fees or charges, Ziglu is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. It is also one of the world’s first cryptocurrency platforms to comply with the Anti Money Laundering and Counter Terrorist Financing standards set by Financial Action Task Force (FATF), implemented in over 200 jurisdictions.
As with all investments, your capital is at risk.