# Majority of British crypto owners revealed to be hodlers: Survey
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” Majority of British crypto owners revealed to be hodlers: Survey “
Taking a quantitative approach, the research sought to establish the prevalence of owning crypto assets, the types and amounts held, and the platforms individuals use to buy crypto assets. It consisted of a survey with a representative sample of 5,916 United Kingdom adults, including 713 crypto asset owners.
The report revealed that 10% of the U.K. citizens hold or have held crypto, with 55% never having sold any (equivalent to 5% of the adult population). Only 7% are currently holding more than £5,000 (almost $6000 by press time) in value, while 52% of current owners have holdings of up to £1,000 ($1200).
Related: UK government seeks public input on DeFi taxation
Other significant findings come as no surprise — crypto owners tend to be younger than the general population with 76% of them 45 years, and mostly they are male (69%). A vast majority of them hold cryptocurrencies (79%), while the second most popular type of asset is utility tokens (20%).
An important takeaway refers to the common trading pattern — 68% of owners most frequently acquire crypto from “centralized exchanges” and 81% use these exchanges to sell or exchange their assets.
The majority of owners reported making a profit (63%) over the past year when disposing of cryptoassets, 14% claim they made a loss and, similarly, 14% revealed they broke even. As the survey was conducted between February 2021 and June 2021, this data should be attributed to 2020.
On July 5, HMRC made a call for an evidence paper, describing its intention to study whether administrative hassles and costs may be reduced for taxpayers who participate in the crypto industry.
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