Report: Only 5% of British Cryptocurrency Investors Makes Financial Gains
A new report by IW Capital, a UK-based SME investment group, says that only 5% of the UK’s crypto investor managed to turn a profit.
According to the research, shared by Express U.K, 38 percent of cryptocurrency investors in the UK put their money on the line without understanding cryptocurrencies.
More FUD comes in the form that most investors surveyed said that cryptocurrency is inferior to other types of investments. The most interesting facet of the study was that only 5 percent of the respondents have made financial gains from their investing in cryptocurrencies.
The report also revealed that only 7% of Brits, are of the opinion that cryptos are more valuable than stocks and shares.
IW Capital’s report reads:
The data reveals that, fundamentally, Brits do not have enough information or knowledge on the topic of cryptocurrency. In fact, many have no knowledge about the subject whatsoever.
The report later added that a wide majority of investors in the U.K. see cryptocurrency as an “inferior” investment, while directly comparing this new breed of assets to something like a stock or a government-issued bond.
Luke Davis, the CEO of the firm conducting the survey, gave Express a statement regarding the statistics, noting:
It is shocking, but not surprising, to see so much confusion around the topic of cryptocurrency. I do not believe this is a reflection of UK investors’ risk profile, as a positive appetite for alternative finance remains, but to see that investments have been made without proper financial advice and a lack of facts and education is very concerning.
Its quite surprising that Britain which is one of the leading countries in the world, regarding policies, technological advancement has little knowledge about the crypto space.
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