Cryptocurrencies are being mainstreamed

Once the stuff of science-fiction, cryptocurrencies are now being “mainstreamed” with one in seven Britons considering investing in them, according to a survey.

But the survey by ThinkCoin also found that with only 4% of Britons having actually bought cryptocurrencies, progress remains to be made in public awareness and understanding.

The research revealed that those whose currently invest in or are open to the idea of cryptocurrencies are optimistic about the asset and its future: almost a third of Britons believe crypto assets will or would net them sizeable return.

A fifth of those surveyed believed cryptocurrencies are the future of investing and will eventually replace fiat currencies, while a further quarter invested in cryptocurrencies or would invest in them for fun.

For those who would never invest in cryptocurrencies, the top four concerns are:

  • Trusting cryptocurrency
  • Understanding cryptocurrency
  • Concern over security
  • Over a quarter stated they would not never invest in something that isn’t regulated

Nauman Anees, chief executive and co-founder of ThinkCoin, said cryptocurrencies had yet to shake off their Wild West reputation.

He added: “We welcome regulation of the industry, so that cryptocurrencies can become an even more viable, safe, transparent, lucrative, mainstream investment option.”

©2018 funds europe

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