UK cryptocurrency statistics 2023
How many people invest in crypto?
Ever since Bitcoin was first invented in 2008, cryptocurrency has quickly grown in popularity – and notoriety. Find out how many Brits currently own cryptocurrency and why people are getting involved in the latest trends, such as Ethereum, Dogecoin and Binance Coin, or staying away from crypto altogether.
Quick overview
- 6% of Brits, or approximately 3.3 million people, have invested in cryptocurrency as of 2023.
- 71% of Brits say they have no intention of ever buying cryptocurrency.
- Two-thirds (66%) of Brits who have invested in cryptocurrency are men, while around a third (34%) are women.
- 9% of UK millennials have invested in cryptocurrency.
- 70% of crypto investors are aged between 18 and 44.
- Almost half (47%) of Brits who invested in cryptocurrency bought Bitcoin.
- Around 1.3 million people own Bitcoin in 2023, 2.5% of UK adults.
- A third (33%) of Brits who invested in cryptocurrency bought Ethereum.
- There’s a new post every three seconds on social media about Bitcoin.
- Revenue in the UK cryptocurrencies market is projected to reach £3 billion by 2027.
How many people invest in crypto in the UK?
6.1% of Brits have invested in cryptocurrency as of 2023, which equates to around 3.3 million adults. This means the number of cryptocurrency users in the UK has surged by 103% since the beginning of 2018 when just 3% of the population – around 1.5 million people – owned some.
Globally, 15.5% say they own cryptocurrency, putting the UK significantly behind when it comes to cryptocurrency adoption.
Overall, revenue in the UK cryptocurrencies market is projected to reach £2 billion in 2023 and £3 billion by 2027.
What is the most popular cryptocurrency in the UK?
Unsurprisingly, Bitcoin is the most popular cryptocurrency in the UK, with 47% of British crypto investors choosing this coin. Ethereum comes in second place, with a third (33%) of investors opting for it, while Dogecoin takes third place with 21%.
| Cryptocurrency | Percentage |
|---|---|
| Bitcoin | 46.67% |
| Ethereum | 33.33% |
| Dogecoin | 20.95% |
| Cardano | 19.05% |
| Binance Coin | 18.10% |
| Shiba Inu | 16.19% |
| XRP | 16.19% |
| Tether | 13.33% |
| NFTs | 13.33% |
How many people own Bitcoin in the UK?
It is estimated that 2.5% of UK adults own Bitcoin in 2023, which is around 1.3 million people. Bitcoin accounts for almost half (47%) of total cryptocurrency ownership in the UK.
According to our 2023 survey, just under three-quarters (73%) of Bitcoin owners in the UK are male while just over a quarter (27%) are female.
Crypto ownership in the UK by age
Cryptocurrency is most popular among 35-44 year-olds, who make up 29% of all crypto investors, closely followed by 25-34 year-olds, who make up 28%. This is likely because these are younger individuals with some disposable income to spare and are more comfortable with digital currency.
Cryptocurrency is least popular with those in the 18-24 and 45-54 age brackets, at 14%, respectively. However, 55+ year-olds also have a low adoption rate, with just 15% of people in this age group buying cryptocurrency.
| Age breakdown | Percentage |
|---|---|
| 18-24 | 14.29% |
| 25-34 | 27.62% |
| 35-44 | 28.57% |
| 45-54 | 14.29% |
| 55+ | 15.24% |
Across the UK as a whole, cryptocurrency is most popular with millennials, and 9% of this generation has invested in at least one type. They are followed by generation Z, where 7% have bought cryptocurrency, and then generation X, where 4% have bought cryptocurrency.
| Generation breakdown | Percentage who have bought crypto |
|---|---|
| Gen z | 7.29% |
| Millenials | 8.99% |
| Gen x | 4.11% |
| Baby boomers | 2.29% |
Crypto ownership in the UK by gender
In 2023, two-thirds (65.7%) of Brits who invested in cryptocurrency were men, while a third (34.2%) were women. The popularity of cryptocurrency among women has increased slightly since 2022 when 32% had invested in crypto compared to 68% of men.
How are Brits investing in crypto?
Compared to six months earlier in September 2022, most of those who invested in cryptocurrencies were investing more adventurously in March 2023 (42%). A third (33%) of those asked were investing with a similar approach, while 23% were investing more conservatively.
What are the top reasons for buying cryptocurrency?
The most popular reason people have bought or intended to buy cryptocurrency, according to our 2021 survey, is that they believe it will be very influential in the future (23%).
19% of potential and existing crypto investors thought it seemed like an easy way to make money. Additionally, around 1 in 6 (16%) said that influential people, such as Elon Musk, talking about cryptocurrency had convinced them to invest.
| Reason to buy cryptocurrency | Main reason for wanting to buy cryptocurrency |
|---|---|
| I want to get involved | 19.60% |
| I am comfortable with the risk considering the reward | 19.60% |
| Investing platforms make investing more accessible | 21.10% |
| Interest rates are low and I want to make high returns | 21.30% |
| Cryptocurrency will be influential in the future | 22.80% |
Why are people avoiding cryptocurrency in the UK?
​​Despite the undoubted increase in interest that cryptocurrency has received, most of the population is not planning to invest in it anytime soon. 7 in 10 (71%) people from our 2021 survey said they hadn’t invested in cryptocurrency and had no plans to do so.
The main reason is that they simply have no interest in cryptocurrency (41%), while the second most common reason is that they feel it’s too risky an investment (31%). The fifth most common reason is that they believe it’s a scam (17%).
| Reason people avoid crypto | Percentage who agree |
|---|---|
| There are too many fees | 4.30% |
| It is too difficult to buy and sell | 6.00% |
| Prices are currently a 'bubble' | 7.90% |
| Don't believe it will last | 8.10% |
| I prefer other types of investments | 9.90% |
| I think it is a scam | 17.10% |
| It is too complicated to understand | 20.40% |
| I have no money available to invest | 21.30% |
| I think it is too risky | 31.10% |
| I am not interested in cryptocurrency | 41.10% |
Sources
- Forbes
- CoinMarketCap
- Coinopsy
- Statista
- Google Finance
Methodology
- Finder commissioned Censuswide on 10th-13th March 2023 and 12-15 February 2021 to carry out nationally representative surveys of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
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