Research: Only 5% of Brits Made Capital Gains Via Cryptocurrencies

Cryptocurrency enthusiasts worldwide don't shy from sharing their support for the burgeoning asset class, voicing the inevitable disruption of traditional finance market as the use of cryptocurrencies increase.

An independent research finding in the U.K. suggests the contrary, concluding only 38% of adults in the United Kingdom "Understand cryptocurrencies."

As recorded, only 38% test-takers understood the underlying technology of cryptocurrencies - blockchain - and 5% of respondents reported any incurred capital gains.

Only 5% of investors took guidance from an advisor before purchasing cryptocurrencies.

A vast majority consider cryptocurrencies as inferior to other investment avenues.

"The data reveals that, fundamentally, Brits do not have enough information or knowledge on the topic of cryptocurrency. In fact, many have no knowledge about the subject whatsoever."

IW Capital believes an inherent lack of education prevents the casual investor from understanding blockchain technology and cryptocurrencies, creating a barrier for any potential investments.

Luke Davis, the CEO of IW Capital, expressed his "Shock" over the public's confusion surrounding cryptocurrencies.

Although not intended for the purpose, the volatility of cryptocurrencies has created a vibrant trading market for cryptocurrencies, with exchange, insurance, and custodial businesses becoming billion dollar sectors in their own right.

Ingram added institutions and private investors are interested in cryptocurrencies only for their financial gain, instead of an "An endorsement of their value."