Over several years now crypto finance has gained momentum and as more people share their own experiences and bring friends, family, and colleagues onboard with it, the more it will become a regular means of saving, investing, and spending.
According to a recent article by Newsletter.co.uk, ‘A quarter of Brits consider crypto to be the future of finance’ – a poll of 2000 brits found that 20% have now invested in crypto finance. Those aged 18-24 are the biggest supporters, with 58% of the age group, already invested.
The likes of Bitcoin, Ethereum and Dogecoin are recognised as the most popular currencies and within that age category, they accept that within time, paying for goods by using crpto finance will be the norm, just like contactless and digital smartphone wallets.
Furthermore, using these methods of payment is extremely familiar to this age demographic having been bought up with gaming since an early age, whereby virtual pets and coins have been regularly traded within their pier groups.
The drawbacks of crypto finance
In contrast, a greater awareness of the risks around crypto finance continues to be an issue. The FCA previously warned a “new, younger, more diverse group of consumers” was getting involved in higher risk investments.
With the likes of crypto currency scammers ever prevalent, the temptation to trade through high-risk gambling products and the fact that the crypto industry is still unregulated, does raise concerns about the implications of crypto finance.
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Blogs used to write this article:
- A quarter of Brits consider crypto to be the future of finance | Belfast News Letter