Crypto Adoption in Australia Jumps, Survey Tells

December 7, 2021

An Australian survey that included more than 2,000 people found that the percentage of people in the country who own or have owned crypto has grown to 28.8%, up from 18.4% in 2020.

The 2021 Independent Reserve’s Cryptocurrency Index (IRCI) results point that a positive experience of those who own crypto is a strong contributor to growth in the crypto sector. 89% of the people surveyed said they have made money or broken even, up from 78% a year ago.

The IRCI is a yearly cross-sectional survey of more than 2,000 Australians conducted by PureProfile.

The 24 to 34-year-old age group was, perhaps unsurprisingly, the most trusting of crypto with 27.6% saying they got in to to make a fortune. The over 65 age group holds the most crypto sceptic.

While 28.6% of those that do not currently own crypto, said they would consider investing with better consumer protection, another 26.6% revealed improved regulation of the market to be a decisive factor for them to move in.

The survey reveals that Bitcoin remains the most well-known and popular cryptocurrency, with 89.1% saying they’ve heard of it and 21.1% actually owning the top cryptocurrency. Ethereum is the second most popular asset with 11% holding the coin.

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Author: Peter Siu

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