One in three (33%) crypto holders in the UK are investing to support their retirement, a new study by IG has indicated.

Research by the investing and trading platform also found that 18% of crypto investors said they were saving for a house deposit.

IG’s findings, based on a survey of over 500 UK crypto holders, 51% said they invest to build long-term wealth, while by comparison 27% said their motivation was to make short-term gains.

Among younger investors aged between 18 and 24, IG said the long-term focus is even more pronounced, with 39% investing for retirement and 28% for a house deposit, compared with just 22% motivated by short-term gains.

IG said its findings also challenged a common perception of crypto investors being viewed as high-risk speculators. Respondents were five times more likely to describe themselves as cautious (35%) and seeking to avoid risk wherever possible, than comfortable risking large losses in pursuit of high returns (7%).

Chief market analyst at IG, Chris Beauchamp, said: “Crypto has grown up, and so have the investors that want exposure to it. The astronomical percentage gains may be a thing of the past, and with greatly increased institutional participation the stomach-churning declines are likely to be reduced too.

“Crypto has become part of the financial landscape and has become a crucial part of portfolios across the globe. No longer the speculative upstart of the financial markets, its place now seems assured.”

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