West Midlands is in the top three regions in Britain investing in cryptocurrency and they would sooner buy Bitcoin than property, according to a new national survey.
The survey of 2,000 Brits, commissioned by money app Ziglu and conducted by OnePoll, found that 14 percent of West Mids residents had bought crypto, beaten only by East Mids (15 percent), Northern Ireland (15 percent) and London (30 percent).
In a sign that cryptocurrency is gaining legitimacy in the eyes of the public, Bitcoin is considered a wiser investment than property and almost equal to gold in the West Mids. Asked how they would invest £100, more people from the region chose Bitcoin in their top three investments (28 percent) than real estate (20 percent) and almost the same number chose gold (29 percent).
People from West Mids have the least investment experience in the UK, according to the survey. Almost half (49 percent) stated they had none, followed closely by East Anglia (45 percent) and the North East (44 percent). Almost a third of West Mids respondents (31 percent) are curious about buying crypto but more than four in ten (44 percent) have no intention of doing so.
Mark Hipperson, Founder and CEO of Ziglu, said: “When Elon Musk’s company Tesla bought $1.5 billion of Bitcoin, it was yet another step towards mainstream acceptance of cryptocurrency. Now that we’re firmly on that track, this survey shows how important it is to spread the word in the West Midlands and beyond about how easy and safe it is to buy crypto.”
The regions with the highest numbers of crypto investors are London (30 percent), the East Midlands (15 percent) and Northern Ireland (15 percent).
The survey also revealed a gender divide on the reasons for buying crypto. Men mainly bought crypto to make money on it (53%) while women chose to invest after hearing positive feedback about it (45%).