CryptocurrencyCryptocurrency Exchanges

UK Witnesses a Rise in Digital Assets Adoption

November last year was a difficult month for investors in the cryptocurrency market. Despite the unclear regulatory landscape, global usage of cryptos has increased substantially. Some of the world’s leading cryptocurrency firms are based in the UK, among the world’s greatest economies. Cryptos have become increasingly popular in the area due to this.

This increased from October last year when Coinbase reported that 29% of individuals in the United Kingdom owned bitcoin. It’s estimated that 61% of cryptocurrency investors intend to increase their holdings in the coming year.

According to the recent Coinbase consumer research conducted by Qualtrics, nearly 11% of customers in the United Kingdom have a clear grasp of bitcoin assets. The United Kingdom remains a key European hub for cryptocurrency investing, increasing people’s interest in digital assets. 

According to recent survey findings, the adoption figure is projected to grow, with several people wanting to diversify and grow their portfolios. Nonetheless, a Coinbase representative stated more progress in increasing comprehension and recognition of these holdings.

Diversity of Investments

British investors see digital currency as a useful tool for diversifying their portfolios. Whereas the global regulatory regime surrounding cryptocurrencies remains unclear, some European countries have begun to develop clear legal regimes for digital assets.

Cryptos allow investors to broaden their investments while also earning a return. Nevertheless, more should be aimed at assisting these folks in making the best judgments possible to promote the market’s success. Coinbase is keen to promote successes, but so should other major cryptocurrency players, authorities, and the government, according to a Coinbase spokeswoman. Coinbase Intelligence was recently developed for bitcoin compliance at large by Coinbase.

Coinbase Intelligence Will Protect Cryptocurrency From Bad Actors

Cryptocurrency exchange Coinbase has launched a new tool called Coinbase Intelligence. It says it is designed to help banking firms, cryptocurrency companies, officers, and organizations new to cryptocurrencies meet their compliance obligations. On 28th March, the cryptocurrency exchange posted a blog entry informing users of the new set of items.

Coinbase Intelligence is a developing suite of cryptocurrency compliance tools aimed at protecting the cryptocurrency ecosystem from criminal actors, according to the blog post. Coinbase just published the beta edition of their NFT marketplace, which features a large collection of NFTs on the ETH blockchain.

Coinbase also added the Coinbase KYT as a component of its item line. Coinbase Analytics, which used to be called Coinbase Tracer, has been changed to Coinbase Tracer. According to the American exchange, banking and cryptocurrency firms can utilize KYT as a transaction monitoring tool for proactively managing risk using its risk score algorithm.

According to Coinbase, organizations may generate risk rankings for addresses with the Coinbase KYT API, allowing them to track several transactions in real-time; rule engines that can be readily fully integrated with third-party scenario management solutions, as well as anti-terror funding and other AML flags to monitor transactions at a large scale.

Related Articles

BlockchainCryptocurrency

What is Annual Percentage Yield (APY) and How Does It Work in Crypto?

Introduction Annual Percentage Yield (APY) in crypto refers to the attention or...

Crypto / Forex Broker ReviewsCryptocurrency

ArgoTrade Review – Your global trading partner?

What is ArgoTrade ArgoTrade currently offers online trading using CFDs via reliable...

AltcoinsCryptocurrency

Ripple Publishes Regulatory White Paper to Restructure UK’s Crypto Regulatory Framework

Ripple, a popular crypto solutions provider and blockchain-based digital payment network has...