Britons’ appetite for cryptocurrencies has fallen sharply as they become more aware that they could lose all their money.
Figures from the Financial Conduct Authority (FCA) show 2.3m, or 4.3 per cent of adults, owned crypto in May last year. That was down from 3.1m, or 5.8 per cent, in 2022. It was driven by a sharp decline in the numbers of men and 18 to 34-year-olds holding them.
However, men were still more than three times as likely as women to own crypto.
The decline coincided with a growth in awareness of the perils of putting money into such investments.
Concern: The FCA found that 75 per cent of those with crypto-assets recognised they could lose all their money
The FCA found that 75 per cent of those with crypto-assets recognised they could lose all their money – up from 65 per cent in 2022.
The findings also suggested crypto was mainly held by those who had invested in previous years rather than attracting new fans.
Just one in ten holding it had invested in the past year. The survey pre-dates a renewed surge in demand for crypto spurred by Donald Trump’s return to power.
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This article was originally published by a www.dailymail.co.uk . Read the Original article here. .