The 5 cryptocurrencies that the British bought the most: they spent 32 billion

•  A new study has revealed that individual investors in the UK have spent about £32 billion on cryptocurrencies so far. In the same research, it was seen that the most invested crypto coins were Bitcoin, Ethereum, Dogecoin, Litecoin and Chainlink.

Although significant fluctuations continue to occur in crypto money prices, new data shows that the British are attracting more and more funds to the sector.

According to data shared by VoucherCodes, Britons have spent about £31.795 billion to invest in cryptocurrencies so far. The data showed that each Briton spent an estimated £473 on cryptocurrencies.

According to the report, about 34 percent of the British population holds any of the different cryptocurrencies.

Most invested cryptocurrencies: Bitcoin comes first

Besides these, it is noteworthy that the island nation has recorded a gender imbalance in crypto money ownership. Accordingly, 41 percent of men own digital assets and record an average expenditure of £767, while only 27 percent of women spend an average of £214 investing in crypto.

Use of crypto in payments

In addition, the use of cryptocurrencies in the purchase of basic necessities attracts attention.

Interestingly, clothing has the same share as residences at 13 percent, while vacation is at the top with 11 percent.

New crypto law from the UK

Meanwhile, the UK government introduced a bill earlier in the week aimed at giving authorities the powers to 'confiscate, block and recover' cryptocurrencies used in illegal activities in an effort to combat money laundering and fraud.

The amount of investment in cryptocurrencies by city in the UK

Finally, the research was conducted between 18 August 2022 and 23 August 2022 by interviewing 2001 adults in the UK.