Adults in the UK are hesitant to invest in cryptocurrency owing to a perceived lack of security

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According to TMT Analysis data, a quarter of UK residents are wary about crypto investments owing to a perceived lack of security.

The mobile digital identification startup discovered that adults (13 million new investors) would be eager to invest in cryptocurrency if they were reassured about the market’s security worries.

Security is a top consideration, and almost half (45%) feel that crypto will not become popular without security and regulations.

TMT Analysis specializes in giving worldwide insight into mobile numbers.

According to Fergal Parkinson, Director of TMT Analysis, to attract investors and allow crypto to fulfill its potential as a truly viable, global alternative to the current monetary system, exchanges and providers must ensure that they implement more stringent security anti-fraud processes. The most significant impediment to widespread adoption is changing public views of crypto security.

New clients’ loss of trust indicates that potential investors will continue to avoid crypto assets.

According to TMT Analysis, firms have been unable to reach their full potential due to a lack of improved security measures.

According to FCA numbers, just 12% of crypto-asset businesses that requested registration under money laundering legislation were granted in the first 12 months after FCA authorization became a necessity, according to TMT Analysis.

Potential investors have shied away from the cryptocurrency sector, slowing its expansion.

Over half of UK residents (54%) dislike cryptocurrencies because they feel the security mechanisms are insufficient to safeguard investors.

According to the study, despite the UK crypto market reaching $170 billion, over half of UK residents (53%) claim to know nothing about cryptocurrency.

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