Technology

35% of HNWIs embrace cryptocurrencies

One of the world’s largest independent financial services organizations has added Bitcoin Cash and EOS to its cryptocurrency exchange app, as a new global survey reveals that 35 per cent of wealthy investors will have exposure to cryptocurrencies by the end of 2018. Users of deVere Crypto, the pioneering app by deVere Group, can now also buy, sell, store, and exchange Bitcoin Cash (BCH) and EOS (EOS), alongside Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Stellar Lumens (XLM).

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The news comes as deVere release the findings of a new international poll in which it is revealed that 35 per cent of high net worth individuals are now already invested in or will make investments in cryptocurrencies before the end of 2018.

The 600-plus respondents of this poll are deVere clients who currently reside in the U.S., the UK, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, Germany and South Africa.

Nigel Green, founder and CEO of deVere Group, comments: “The addition of Bitcoin Cash and EOS to the deVere Crypto app is part of our ongoing commitment to clients.

“The users of the app are demanding an ever-wider, diversified crypto portfolio as the crypto sector expands and moves even further into the mainstream.

“This mainstream expansion is clearly evidenced by the fact that more than a third [35 per cent] of wealthy individuals around the world – who are already likely to be successful investors – are telling us that they already have exposure to crypto or that they will have by the end of this year.”

He continues: “The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies.

“There’s now surging public awareness of the value, need and demand for digital, global currencies in a digitalized, globalized world.”

“I expect that a broader awareness and understanding of the crypto sector will grow exponentially in the next year as the tech that underpins it further improves, as major corporations and financial institutions embrace it, and as regulation is further developed.”

Speaking earlier this year, Mr Green noted: “All the digital coins on deVere Crypto have different characteristics, strengths and values.

“As such these additions help to achieve portfolio diversification within this specific asset class and their individual traits make them useful in different ways for investors.”

The deVere CEO concludes: “I believe that there is no longer any doubt that cryptocurrencies in some form are the future of money.

“And, seemingly, this is a view increasingly shared by wealthy investors the world over.”