Prices have skyrocketed due to the excessive printing of fiat money during the COVID-19 pandemic, causing Britons to turn to cryptocurrencies. According to the study, 27% of British women own crypto assets, while 35% of female investors buy them worldwide.
This year, the interest in cryptocurrencies among British citizens has dropped by 82%. However, more people know and own those assets despite the terrible price action in the crypto market.
Based on data from VoucherCodes.co.uk, the current long-term growth is more optimistic than the previous one.
The Pandemic Has Helped the Number of British Cryptocurrency Holders Grow
Cryptocurrencies are increasingly relevant in the financial markets, leading 34% of British citizens to own cryptocurrencies.
The COVID-19 pandemic has caused millions of people to remain confined at home, skipping their hobbies, recreational activities, and commuting. Many turned to cryptocurrencies due to the considerable amount of free time and the excessive printing of fiat money that led prices to skyrocket.
An additional factor increasing the adoption of crypto assets is that Britons can invest in them easily. For example, they did not expect cryptocurrency exchanges like Coinbase to go public some time ago.
However, British citizens can acquire cryptocurrencies in many other ways. Various apps are now available for them to buy Bitcoin more easily by just scrolling the screens of their smartphones.
The Number of British Women Owning Cryptocurrencies Is Increasingly High
The above study reveals that 41% of British men own cryptocurrencies while 27% of women do. That percentage is much higher than expected, as some other studies show much lower figures.
A study on gender distribution in various countries in early 2022 revealed that there are 35% of female crypto investors worldwide. That figure is higher than the 26% of women in the overall global investment universe.
While 35% of British investors are women, France leads the developed world with 45%.
According to the study, the gender balance was much more stable in developing countries. More women than men invest in assets in countries like Israel, Indonesia, and Nigeria. There are fewer opportunities for the former to achieve financial independence in developing countries.
The Crypto Market Has Potential to Grow Further in the UK
Although many people already invest in crypto assets, most (66%) have not done it. Although 48% of the population knows little about cryptocurrencies, the market still has enormous potential.
Over the last few years, cryptocurrencies have entered the mainstream, but almost half the population does not know them.
Although 2022 has been a negative year for cryptocurrencies, statistics like 34% of Britons owning crypto show their growth. Despite the gender gap, ignorance about crypto assets, and rock-bottom prices, the outlook is better than a few years ago.
Meanwhile, Bitcoin is trading at around USD 20,609 and has accumulated a 1.6% over the last 24 hours. While its daily trading volume is above USD 377.00 billion, its market capitalization is about USD 395.65 billion, according to CoinGecko.
By Alexander Salazar
