67% of Students Would Consider Cryptocurrency To Pay for the Cost of University
UNITED KINGDOM / AGILITYPR.NEWS / May 20, 2021 / Two thirds of students would consider using cryptocurrency to pay for university costs, reveals student accommodation provider UniHomes.
Research has revealed students are twice as likely to invest in crypto than the general population, with an estimated 189,000 undergraduate students in the UK owning some form of cryptocurrency.
Despite the volatility of cryptocurrencies, an estimated 3.4m people in the UK are thought to have invested. This equates to around 5% of the total population, placing the UK 11th in the worldwide rankings in terms of investor prominence.
Yet, students are much more likely to invest; with 10% of UK students owning crypto.
Students take second place when looking at owners of cryptocurrency by employment status, sitting only below military employees (20%). This means as many as 188,948 undergraduate students are thought to be investors.
It’s also clear that many students are keen to maintain this modern form of potential income, with 18% of students continuing to set money aside to invest in the likes of cryptocurrencies, stocks, and shares.
Currently, the opportunity to transact with cryptocurrencies is limited, but it’s clear that many students are keen for this to change. 67% stated that they would consider using their cryptocurrency to pay for university tuition, rent and even the general cost of living if they could.
UniHomes found that, on average, the overall cost of university comes to a whopping £18,024 a year. With one Bitcoin currently valued at £28,175 (as of 20th May), students studying a three year degree could cover the cost of university life and tuition with just 1.92 Bitcoin at current market rates.
Co-Founder and Director of UniHomes, Phil Greaves, said:
“With cryptocurrency such a new form of investment, it’s interesting to see just how many students would consider this a viable currency in the future.
Students are becoming more entrepreneurial, with out-of-the-box thinking when it comes to financial savviness, compared to previous generations.”
Survey of 1,365 students carried out by UniHomes (19th May 2021).
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By 2021, UniHomes will be operating in over 40 cities across the UK, with 23% of the total student accommodation sector using their online platform.
The UniHomes founders are Phil Greaves, Bradley Cox and Luca Mori.
UniHomes promotes thousands of student properties and provides them on a ‘bills inclusive’ basis in a transparent and fair way.
UniHomes work alongside letting agents in 29 UK cities, advertising their property portfolios to generate student enquiries.
The founders were landlords and property professionals themselves, as well as being students so they understood both sides of the market.
Split The Bills was a strategic acquisition by UniHomes. They’re one of the largest student utility companies, who are a well-respected brand within the student community.
Following the acquisition, the combined businesses have a 50 strong team to assist with UniHomes’ next stage of growth.
UniHomes has increased its partnered letting agents by 75% this year.
UniHomes revenues and customers have increased by 60% year on year, an incredibly impressive rate of growth considering they have been operational for just five years.
The combined businesses have over 5,500 reviews on Google and Trustpilot rated "Excellent”.
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