Cryptocurrency Ownership in Australia
In Australia, nearly a quarter of the population now owns cryptocurrency assets. This was revealed in a survey conducted by YouGov and released by Swytyx, an AUSTRAC-registered crypto exchange. The survey found that 23% of Australians, or 4.3 million people, have verified ownership of cryptocurrencies.
Key points:
- 23% of Australia’s population owns cryptocurrency assets.
- The younger generation, aged 18-34, holds a significant portion of crypto investments.
- There has been an increase in adoption among older demographics.
- Women show more interest in cryptocurrency than men.
- Almost one million residents are interested in joining the wave of cryptocurrency investors in the next 12 months.
Crypto Adoption in Australia
Australia is considered one of the most crypto-friendly countries, with a crypto adoption rate of 17.8%, ranking 9th out of 26 countries. The country has surpassed countries like the Philippines and Indonesia in terms of cryptocurrency activities. Bitcoin is the most popular cryptocurrency among Australians, followed by Ethereum, Cardano, Dogecoin, and others.
Key points:
- Australia ranks third in terms of crypto adoption globally.
- Bitcoin is the most favored cryptocurrency.
- The Reserve Bank of Australia has completed a CBDC pilot program.
- 1 out of 5 adults in the country currently owns cryptocurrencies.
- The government and finance sector are actively involved in the evolution of digital currencies.
Hot Take
Australia’s high crypto adoption rate and favorable regulatory framework showcase the growing acceptance of digital currencies as a legitimate means of transaction and investment. With the interest of both the younger and older generations, it is likely that cryptocurrencies will become a staple in Australia’s financial system in the future.
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