Cryptocurrency exploded globally in 2021 and the UK was not immune to the rise in popularity of the digital economy. This year’s bull run proved its growing acceptance and the UK was a major investor in the industry. If you look back to 2018, around 1.5 million people in the UK owned some cryptocurrency, a figure that grew to around 9.8 million people in February 2021.
Given that Bitcoin is the first cryptocurrency created, the most famous and the most valuable, it might be a bit obvious that it was, in fact, the most popular crypto in the UK this year with an overwhelming ownership of 70%, according to the company from Statista database.
Information provided by Statista showed that while Bitcoin dominated crypto ownership, Ethereum, the world’s second largest cryptocurrency, followed Bitcoin with a 37.3% ownership percentage in the UK. The infamous meme coin Dogecoin comes in third (15.5%), with Litecoin slightly behind in fourth (15%), as Bitcoin Cash (10.1%) rounds out the top five cryptocurrencies owned by the 1,589 respondents. .
The more society started accepting cryptocurrencies, the more value it could have and, according to CyberCrew, about 500 companies had started accepting cryptocurrencies as payment or owned a cryptocurrency ATM. Those companies included consumer electronics (44) and IT services (39), as well as quick-service restaurants and casual dining (29), cryptocurrency services and media (18), and cafes and coffee shops (16).
The significant increase in UK adoption of the digital economy was demonstrated by a report from blockchain data platform Chainalysis, which found the UK to be the leading European nation in crypto transactions with deals worth $ 170k. million (£ 123 billion). With Bitcoin accounting for 27% of the UK’s transaction value, the nation led significantly ahead of countries such as Germany, France, and the Netherlands, respectively.