Most cryptocurrency investors are still “dabbling” with the asset, research claims.
A poll of 1,000 adults by cryptocurrency app Ziglu found 24 per cent of crypto investors have spent £100 or less and a further 28 per cent have invested up to £500.
Only 23 per cent have spent more than £1,000 on cryptocurrencies and five per cent have put more than £10,000 into virtual coins.
The findings revealed that 74 per cent of cryptocurrency owners were men, and 46 per cent are aged 34 and under.
One in four people aged 35 to 44 said they own cryptocurrency compared with just two per cent of those who are 65 and over.
“Our research shows that cryptocurrencies are becoming increasingly mainstream – especially amongst younger people,” Mark Hipperson, chief executive of Ziglu, said.
“Coronavirus has accelerated growth in the retail cryptocurrency market by at least five years with people spending more time at home and wanting to learn more about it safely.
“We are seeing huge growth in the number of new clients wanting safe and simple access to crypto.”