In 2022, 24 percent of the 2,000 respondents expressed interest in investing in tokens or NFTs, indicating a “key tipping moment” for token adoption.
A poll of investors in the United Kingdom indicated a growing interest in new asset classes that threaten to supplant traditional finance, owing to reasons such as ease of access and a nascent crypto market.
81 percent of the 2,000 U.K. people polled by OnePoll via Tokenise preferred tokens as a safer and more secure alternative to traditional investments such as gold, oil, shares, and real estate:
“The time is ideal for tokens to take centre stage, driven by a challenging climate for traditional investment vehicles due to the pandemic, low interest rates, and inflation.”
In 2022, 24 percent of the respondents expressed interest in investing in tokens or nonfungible tokens (NFT), indicating a “key tipping moment” for token adoption. As a result of the growing interest, a growing number of providers and exchanges are attempting to capitalise on it.
Influencer marketing through artists, singers, and collectors is one of the primary drivers for roughly 55 percent of existing crypto investors in the United Kingdom, while the opportunity to make purchases through app-based markets attracted 49 percent:
“By 2022, 41% of Londoners are willing to buy, use, or trade a token (such as an NFT).”
The most common age group in the United Kingdom that prefers to invest in tokens and NFTs is those aged 18 to 24, with 53% citing the possibility to invest using applications or online portals as a major influencing factor.
The poll, on the other hand, revealed the significance of education in promoting crypto-based investments. “When it comes to tokens, nearly half, or 47 percent, have yet to invest because they do not know enough about tokens, while 34 percent do not know an easy and safe way to invest,” the survey said, emphasising the necessity of regulated exchanges.
The study also found that while women have less exposure to tokens and NFTs than men, they both prefer to invest through online platforms. Surprisingly, 59 percent of female investors said they wanted to feel a connection to the underlying asset before investing.
The Financial Conduct Authority (FCA), the United Kingdom’s leading financial regulator, ordered all non-registered crypto ATMs to close down immediately or face unspecified extra action on March 11.
According to media reports, the FCA identified three major reasons for the quick enforcement: a lack of regulatory structure, the high-risk potential of fluctuating assets, and the need of adhering to the Money Laundering Regulations’ principles.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.