London and Belfast, the UK’s leading cryptocurrencies

Following on from an article we wrote about cryptocurrency adoption in the UK, we’ve prepared this one which delves a little deeper into which cities in the UK have the most cryptocurrencies and what the variation is across the country.

The average UK cryptocurrency investor spent £473.

Overall, one in three Britons in the country owns a cryptocurrency, according to the VoucherCodes survey.

The average amount spent on cryptocurrencies is £473. These are not life-affecting amounts, but for some, the spending is significantly higher.

5% of Britons have spent more than £2,000 investing in cryptocurrencies. It is clear that the markets have been gray this year. The recent collapse of FTX is but the latest blow to a sector that has struggled all year.

This means that a large proportion of those UK investors are likely to be in the red, as cryptocurrency market prices have plummeted from Bitcoin’s all-time high of nearly $69,000 in November 2021.

London is top crypto city, Belfast second

London leads the way, with an average investment of £777.

It is not surprising that London, being the financial center of the United Kingdom – or perhaps even the center of all of Europe – is at the top.

An investment of £777 is well above the average of £473. Belfast is perhaps more notable in second place, with the Northern Irish city spending an average of £699, not far behind London.

The Welsh city of Cardiff rounds out the top three, dishing out an average of 572 pounds on the cryptocurrency.

Newcastle spends less on cryptocurrencies.

At the other end of the scale is Newcastle, with an average investment of £230, the lowest in the survey.

The northern city (which has the best soccer team in the world, according to this totally unbiased journalist) spends more than 50% less than the British average, and almost 70% less than Londoners.

As prices stand, it looks like the Geordies have made the right decision. Other cities spending below average include Liverpool, Brighton, Leicester and Sheffield.

Sources

VoucherCodes.co.uk