The financial conduct authority (FCA) in the UK published a review of two studies designed to help the regulator better understand the potential risks of the cryptocurrency.
The first of these, conducted by the Revealing Reality, and studied the relationships, understanding, motivations and beliefs that underlie the decisions of people about buying and using scriptaction. The researchers interviewed 31 kleptoparasites and selected 17 of them for later in-depth interviews.
In the second study, commissioned by the regulator Agency Kantar TNS, a survey was conducted of a representative sample of 2132 consumers in the UK. They were asked questions about their awareness, understanding and buying habits related scriptactive.
According to the data obtained FCA, many consumers see investment in the crypto currency “the path to fast money.” Those investors often indicated that they were motivated by other people and social networks. Moreover, the majority of respondents showed a complete lack of understanding of cryptocurrencies. For example, they did not know that you can buy a part of scriptactive and not just the coin entirely.
The FCA also concluded that investing in cryptocurrencies are associated with risky behavior — the majority of cryptomaterial did not conduct a proper examination of the purchased assets, and some didn’t do it at all.
However, the regulator also noted the results of studies that only a small part of the British consumer (3%) ever bought scriptactive and, on average, spent less than £ 200 using their own funds. 73% of respondents do not know what cryptocurrency is, and cannot define it.
A typical cryptocurrency investor in the UK were male, aged 20-44 years from the middle and higher class society.
We will remind, earlier FCA reported that for 2018 British consumers lost in cryptogamic and other investment frauds 197 million pounds.