Young people in the UK want to learn more about cryptocurrencies – News Sept 09

(Cryptocurrencies) A recent survey found around 56% of UK teenagers surveyed keep most of their money in a savings account, missing out on potential investments in cryptocurrencies.

Lack of crypto knowledge is the main obstacle to this group’s increased investment. Still, most UK youth in the UK are eager to learn more about cryptocurrencies, according to a survey. They traded Fund Sponsor and Asset Manager Product (ETP) WisdomTree Investments.

Young people in the UK want to learn more about cryptocurrencies.

Young people in the UK want to learn more about cryptocurrencies. 

In July, the survey enrolled approximately 3,000 people between 18 and 30, including three samples from three countries, the UK, Italy, and Germany. The survey found that young adults in the UK view assets, savings accounts, cryptocurrencies, and stocks as the main drivers of long-term investment returns, with 22%, 20%, 19%, and 17% responding to words, respectively.

Although some respondents expressed willingness to invest in cryptocurrencies, 63% said they do not understand how cryptocurrencies work. At the same time, respondents expressed an interest in learning more about this emerging asset class, with 62% of young people in the UK eager to learn or buy more about cryptocurrencies, according to the survey.

“Among the key factors highlighted in the survey that will encourage young investors to invest in cryptocurrencies are learning the basics (38%), followed by falling prices and opportunities. Buy yourself (30%) and know more people who invest in them (30th).%) “WisdomTree Investments said.

However, they added that despite recent media attention about celebrities investing in cryptocurrencies, only 16% of respondents would consider supporting if advised by stars.

The survey results reinforce the results of a US consumer survey conducted in February 2021, which shows that a sufficient understanding of cryptocurrencies is the main obstacle to adoption. On the positive side, a study from April 2021 showed that consumer understanding of cryptocurrencies tends to be higher. A May 2021 report by the Economist Intelligence Unit (EIU) shows that people in developing countries are more familiar with decentralized cryptocurrencies like Bitcoin (BTC), while those with better education are more likely to use cryptocurrencies.

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