Investment firm AJ Bell has discovered that crypto is fast becoming a more appealing option than stocks and shares in Britain.
A survey found that 7% of British adult respondents had bought crypto in the past year. That number exceeded the number of people who invested in stocks or shares, which was around 5% of all respondents.
The survey was conducted by Findoutnow, an online market research company which reached out to 1,269 respondents.
AJ Bell financial analyst Laith Khalaf noted that the world “has gone crypto crazy”, referring to the fact that more people were now inclined to buy crypto than put their savings or investment money in established financial assets.
Crypto investors are generally male and under the age of 35, the poll established. Some 71% of those who confirmed that they had bought crypto fitted the profile.
It also found that 17% of people who had invested had no idea whether they had won or lost on their investment.
ThisIsMoney, a personal finance website outlet in the UK, took a look at the survey and said that while young people seemed to be putting their trust in cryptocurrencies, observers remained concerned over whether that confidence was misplaced to begin with.
“It certainly looks like some consumers are jumping into the deep end with cryptocurrencies, before learning how to swim in shallower waters”, Khalaf noted.
He added that young investors could see their financial assets seriously damaged if they leaned too heavily on this type of investment and the crypto market ended up crashing as it often has.
Many consumers still choose to stick outside of crypto investment, but they use crypto readily in various recreational activities, including gaming. Bitcasino, 1xBit and FortuneJack are some of the viable casino websites to visit and enjoy.