Frightening numbers of Britons are staking their savings on dangerous and lawless cryptocurrency, a Money Mail investigation today reveals.

Investment experts warn that the Bitcoin phenomenon carries all the hallmarks of a bubble about to burst — with inexperienced investors at risk of losing everything.

One in five UK adults have bought cryptocurrencies, according to exclusive research by Scottish Friendly. 

Risky bet: Investment experts warn that the Bitcoin phenomenon carries all the hallmarks of a bubble about to burst — with inexperienced investors at risk of losing everything

The mutual also found one in ten parents had bought cryptocurrency to save for their children’s future.

Meanwhile, research for Money Mail by investment shop AJ Bell found that just 19 per cent say they understand how cryptocurrencies work, and nearly one in ten have already lost money after investing in lockdown. 

Furthermore, one in four students have bought…

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