41% of Britons consider the risks of investing in cryptocurrencies and the stock market to be similar

According to 41% of UK residents, investing in cryptocurrencies is no more risky than buying shares on the stock market.

According to the survey
Piplsay, which was attended by 6,070 UK residents over the age of 18, many Britons believe that the risks of investing in cryptocurrencies are similar to the risks of investing in securities. However, 45% of respondents still consider cryptocurrency more risky than investing in stocks.

More than 40% of the survey participants described cryptocurrency as a safe investment option, and 31% of respondents said that they consider investing in it too risky. The remaining 27% of respondents are not sure about the security of digital assets.

About 30% of respondents named the possibility of hacking or fraud as the main risk of working with cryptocurrencies, while regulatory issues raised concerns among 26% of the survey participants. At the same time, only 19% of respondents are concerned about the volatility of crypto assets.

Despite the growing interest in cryptocurrency, the majority of respondents are still more likely to stay away from such investments – 57% said that they have no desire to invest. The majority of Britons are not sure that they understand how cryptocurrency works — this was stated by 46% of the survey participants.

About 35% of Generation Z (born from 1997 to 2012) and millennials (born from 1981 to 1996) believe that they are well versed in cryptocurrencies, and 39% consider digital assets to be safe. About 37% of Gen Z and 27% of millennials plan to invest in cryptocurrencies this year.

At the same time, 29% of Generation X representatives (born from 1965 to 1980) believe that they understand cryptocurrencies, and only 22% are confident in the security of investments in crypto assets. About 27% plan to invest this year.

46% of the survey participants said that major brands, such as Apple, Amazon and Tesco, should accept payments in cryptocurrency. This indicates a growing demand for cryptocurrencies as a payment tool.

Recall that according to the study
Independent Reserve for 2020, 18.4% of Australians own crypto assets. The most popular cryptocurrency among respondents is bitcoin.