Press Release
For immediate release
Cryptocurrency adoption falls in the UK
- 5% of British adults own crypto, down from 9% in November 2022.
- 9% of millennials own crypto, compared to just 4% of Gen X.
- Kraken named the best cryptocurrency trading platform in the UK Finder Awards.
PRESS RELEASE – Cryptocurrency adoption in the UK has fallen, according to the latest data from Finder.com. 5% of British adults aged 18+, or an estimated 2.7 million people, currently own cryptocurrency, down from 9% last year*.
However adoption among millennials is slightly above the national average, with 9% of this generation saying they currently own crypto. Meanwhile just 4% of Gen X and 2% of baby boomers say the same.
Finder analyzed more than 61 data points across 17 brands taking into account a range of factors including fees, features and coins available to name Kraken the best overall crypto trading platform for Brits, while CoinJar is the best for value and eToro the best for beginners.
Cryptocurrency editor at Finder, James Edwards, says it’s important for traders to understand the cost of buying and selling cryptocurrency.
“Generally speaking, trade fees eat into your capital more when you’re buying and selling smaller amounts and you trade more frequently.
“Our research reveals the average fee to instantly trade £1,000 of BTC is around £9. If you can, it’s worth using the spot market rather than instant trades as the average fee tends to be much lower at just £4.90.
“CoinJar was named the best value platform, with its low fees making it a strong product for those looking to save on transaction costs.
“Kraken had excellent scores overall making it an affordable all-in-one option with services including staking and an NFT marketplace via its app and desktop exchange.
“eToro won the awards for ‘beginners’ and ‘instant purchases’, while Crypto.com was picked for ‘altcoins’ and ‘extra features’.”
Edwards warns investing in cryptocurrency carries a lot of risk.
“The last few years have demonstrated just how volatile the industry is, so you should never invest money you can’t afford to lose.
“Even if you’re using an exchange to buy and sell your crypto, it’s a good idea to store your digital assets on a hard wallet to which you alone hold the private keys.”
You can view the full list of winners and finalists here: https://www.finder.com/uk/finder-crypto-trading-platform-awards-2023
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For further press information
- Matt Mckenna
- UK PR Manager
- M: +44 747 921 7816
- T: +44 20 3828 1338
- matt.mckenna@finder.com
Disclaimer
The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com's review pages for the current correct values.
About finder.com
finder.com is a personal finance website, which helps consumers compare products online so they can make better informed decisions. Consumers can visit the website to compare utilities, mortgages, credit cards, insurance products, shopping voucher codes, and so much more before choosing the option that best suits their needs.
Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.
finder.com launched in the UK in February 2017 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia's most visited personal finance website (Source: Experian Hitwise).