A survey of more than 1,000 British adults found that one in five would consider purchasing cryptocurrencies within the next three years. The research, commissioned by communications agency Citigate D
A survey of more than 1,000 British adults found that one in five would consider purchasing cryptocurrencies within the next three years. The research, commissioned by communications agency Citigate Dewe Rogerson, also revealed what keeps most people away from the market.
Of those with no plans to buy crypto, 67% cited volatility and risk as their primary concern. Lack of knowledge stopped another 61%, while 43% pointed to inadequate investor protections. Regulation emerged as a major barrier for potential buyers uncertain about where crypto fit in the legal landscape.
Financial professionals, though, see a different trajectory. When Citigate Dewe Rogerson surveyed 30 financial experts, 73% predicted stronger regulatory frameworks would emerge to protect investors within the coming years.
Phil Anderson, executive director at Citigate Dewe Rogerson, said the findings reveal a split between intention and action. "Investors are temped to dip their toe into the cryptocurrency marketplace, but there are a number of obstacles preventing them from doing this," he said. Anderson believes many of these hurdles will fade as market conditions improve. "Assuming valuations continue to rise, many more investors will be attracted to this market," he predicted.
Small business owners across the UK showed far greater enthusiasm than the general public. Paymentsense surveyed 504 business owners in January and found 35% expected crypto payments to become a valid and standard method of transacting within two years. Another 21% held even more aggressive expectations, predicting widespread adoption within a year. Only 13% accept cryptocurrency today, though 25% believe it will become mainstream for transactions.
In a separate survey, Toluna polled 1,002 UK residents and found 41% expect cryptocurrencies will see widespread use in the near term.
Guy Moreve, head of marketing at Paymentsense, said the shift toward crypto adoption seems inevitable. "It's clear that cryptocurrencies are moving swiftly towards the mainstream," he said. But Moreve cautioned that business owners need to plan before jumping in. "Small business owners considering cryptocurrency as a payment option should be clear about how they can integrate it with their existing financial arrangements. Will suppliers or staff accept it? Can they pay local and national government agencies with it?"
Moreve suggested that trusted payment processors can help manage the transition and address key concerns. "Using a trusted payment processor or merchant service provider can help guard against this by allowing a swift currency exchange, and improve security processes," he said. The decision depends on business type and sector. "For entrepreneurs in emerging sectors it might be worth the risks involved, but for others in more established or slower-moving areas it could be wiser to wait and see how things evolve over the next six to 12 months."
