A new breed of investor has run straight to the ‘deep end’, eschewing safer forms of accumulating wealth.
That’s according to a poll caried out on behalf of the funds supermarket AJ Bell.
It found that found 47% of crypto investors in the UK don’t have an individual savings account (ISA), the cornerstone of traditional savings and investment.
And it discovered that nearly four in 10 don’t have a pension.
Laith Khalaf, head of investment analysis at AJ Bell, believes many crypto investors are jumping in at “the deep of the risk spectrum and bypassing the basic building blocks of a financial plan”.
The survey also found that while there has been a rush to electronic currencies, the majority of those polled that were invested (69%) have less than 10% of the total assets in these alternatives to fiat money.
Meanwhile, a third of those surveyed have been so chastened by the recent downswing of the crypto roller coaster ride that they aren’t prepared to lose any money on a digital currency investment.