Out of the 2,000 responders, 24% revealed interest in investments in tokens or NFTs in 2022, which highlights a “critical tipping point” for token adoption.
A survey on investors across the United Kingdom has revealed a growing interest in the new asset classes that threaten to overshadow traditional finance, which is driven by factors such as ease of access and an adolescent crypto market.
Among the 2,000 U.K. residents who were surveyed by OnePoll via Tokenise, 81% of the responders chose tokens as the safer and securer alternative to traditional investments such as gold, oil, shares and real estate:
“Driven by a difficult climate for traditional investment vehicles due to the pandemic, low-interest rates and inflation, the time is right for tokens to take center stage.”
Out of the lot, 24% revealed interest in investments in tokens or nonfungible tokens (NFT) in 2022, which highlights a “critical tipping point” for token adoption. As a result, the rising interest is complemented by a growing number of providers and exchanges that intend to capitalize on the demand.
Some of the key drivers for nearly 55% of the existing crypto investors across the U.K. include influencer marketing via artists, musicians and collectors, while 49% got roped in by the ability to make purchases through app-based marketplaces:
“Some 41% of Londoners are ready to buy, use or trade a token (such as an NFT) in 2022.”
The most prominent age group (46%) that prefers investing in tokens and NFTs in the U.K. are aged between 18 and 24, 53% of whom cited the ability to invest using apps or online portals as a major influencing factor.
On the other hand, the survey uncovered the importance of education in promoting crypto-based investments. Further underscoring the importance of regulated exchanges, the survey reveals:
“When it comes to tokens, nearly half or 47% are yet to invest because they do not know enough about tokens, while 34% do not know an easy and safe way to invest.”
The research also shows that women have lower exposure to tokens and NFTs as compared to men but equally prefer online platforms for investments. Interestingly enough, 59% of female investors revealed to seek some kind of connection to the underlying asset prior to investing.
On March 11, the U.K.’s central financial regulator, the Financial Conduct Authority (FCA), directed all non-registered crypto ATMs to immediately close down or be subject to undisclosed additional action.
As Cointelegraph reported, the FCA cited three key reasons for the sudden enforcement: lack of regulatory structure, the high-risk potential of fluctuating assets, and the importance of upholding the principles established within the Money Laundering Regulations.
This article was originally published on Cointelegraph by ARIJIT SARKAR