British citizens have recently revealed a growing appetite for cryptocurrencies like Bitcoin and Ethereum, as many see the sector as a viable alternative to traditional banks.
According to a recent survey, a sizable portion of respondents (41%) pointed to long-term investing and stable returns as their main motivation for investing in cryptocurrencies, while nearly the same number (39%) said they are likely to use currencies. for cheaper and faster international shipments.
At the same time, more than half of respondents (51%) indicated that they would be interested in using cryptocurrencies as collateral to obtain loans.
Other possible use cases for cryptography include the ability to get a return on investments through staking on proof of participation (PoS) blocks and borrowing through decentralized finance platforms (DeFi).
Earlier this year, a survey conducted by the UK's Financial Conduct Authority (FCA) showed that cryptocurrency users in Britain are growing dramatically in numbers - it is estimated that up to 2.3 million of the country's adult population own assets. and appear to be very confident in the potential of cryptocurrencies as an alternative investment vehicle.