British Millennial Males Are the Biggest Crypto Adopters

According to fresh research from Dynata, British millennial men are the country’s largest cryptocurrency users, with over 11,000 replies across 11 nations.

The Dynata poll, conducted in conjunction with its annual global consumer trends research, indicated that more than a fifth of UK male millennials had purchased or invested in some kind of cryptocurrency. 34% (34%) of Gen-Z men aged 24 and younger have invested in bitcoin, compared to 26% of Gen-Z females.

British males aged 25 to 49 are far more active cryptocurrency investors than the worldwide average of 46% for that group, considerably outpacing crypto investors of all ages and genders. Thus, what are British males spending their cryptocurrency on?

Gift certificates. According to the poll, 41% of cryptocurrency users have bought a gift card with their cryptocurrency, while 15% of all Brits have purchased “something” with their cryptocurrency.

Another poll indicated that 40% of questioned Britons earn more than £200,000, while 18% earn between £100,000 and £200,000.

Increased interest in getting salary in cryptocurrency

Many observers predict that we will see an even greater increase in bitcoin usage if employees have the choice of receiving their income in cryptocurrency rather than their country’s native currency. With a considerable curiosity in such possibilities already, 65% of British millennial men said that they would be interested in getting a cryptocurrency income.

Despite modest retailer acceptance, 34% of Chinese employees showed an interest in receiving their salaries in cryptocurrency, as did 37% of US workers. In Canada, nearly 32% of employees showed an interest in getting their pay in bitcoin as well.

Indeed, crypto’s volatility has hampered its adoption by shops in the UK and other nations, where cash remains the preferred mode of payment for products and services.

Due to the growing popularity of NFTs, 71% of Gen-Z, 68% of millennials, and 35% of Gen-X have shown interest in investing in this new form of digital art, compared to only 8% of those aged 56–74.

According to a Bankrate study performed in mid-2021, over half of millennials in the United States felt comfortable holding cryptocurrency, followed by 37% of Gen-X and 22% of the baby boomer group.

According to a Civic Science poll, 4% of Americans abandoned their low-wage employment after making cryptocurrency profits.

In June 2021, a joint poll conducted by CNBC and Spectrum Group indicated that 47% of millennials have invested at least 25% of their money in cryptocurrency. Respondents cited ease of trading and a strong development potential as primary reasons for investing.

Also Read: Federal Reserve Governor Slams Crypto And CBDCs As Excessively Hyped Technologies