One in Five UK Crypto Investors Don't Know What They're Doing: Research

The study by behavioral finance firm Oxford Risk concludes 21% of investors rate their knowledge of crypto assets as "poor or non-existent."

By Jamie Crawley

Jul 8, 2021 at 10:45 a.m. UTC

Updated Sep 14, 2021 at 1:22 p.m. UTC

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Jamie Crawley

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More than one in five retail crypto investors in the U.K. say they don't know what they're doing despite owning cryptocurrency, new research suggests.

The study by behavioral finance firm Oxford Risk concludes that 21% of investors rate their knowledge as "poor or non-existent" even after owning crypto assets.
Of the 1,038 investors surveyed, 36% said that at the time they first bought crypto their knowledge was poor or non-existent.
The research also suggests that Britons are quite prudent in their crypto investments, with 81% saying they started with small amounts to see what happens.
Three-quarters (76%) have invested less than 5% of their total savings and 41% have invested less than 1%.
Research by the U.K.'s Financial Conduct Authority concluded that while awareness of crypto is increasing, understanding is declining. That was based on a figure of 71% of people being able to correctly identify the definition of cryptocurrency from a list of statements.
The Oxford Risk study was conducted May 21-23.

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