Cryptocurrency News

Australia has the third highest rate of crypto adoption survey says

  • The country's crypto ownership rate of 17.8% ranks third among the countries surveyed
  • According to Finder, of the nearly 1 in 5 adults in Australia who own some form of crypto, Bitcoin is the most popular coin, as 11.6% of all Australians own Bitcoin
  • Just four days ago, an Australian pension fund said it was open to investing in cryptocurrencies in the future

According to a survey published by comparison site, Finder Australia has a higher rate of cryptocurrency adoption than most other countries in the world,

17.8% of Australians holds crypto

Based on the site’s Cryptocurrency Adoption Index, the survey measures the global growth of cryptocurrencies through a regular survey of over 41,600 people in 22 countries. The country’s crypto ownership rate of 17.8% ranks third among the countries surveyed, ahead of Indonesia (16.7%) and Hong Kong (15.8%). This is well above the global average of 11.4%.

According to Finder, of the nearly 1 in 5 adults in Australia who own some form of crypto, Bitcoin remains to be the most popular coin, as 11.6% of all Australians hold it. Of those Australians who are active in cryptocurrencies, 65% have Bitcoin in their portfolio. Ethereum is the second most widely held currency in Australia, with 42.1% of crypto owners holding this coin. This makes it the second most owned country in their list in terms of Ethereum ownership. According to Finder’s findings, two other cryptocurrencies that Australian crypto owners currently hold are Dogecoin and Binance Coin, which stand at 23% and 14.6%, respectively.

Australian pension fund open to investing in crypto

Just four days ago, an Australian pension fund announced that it was open to invest in cryptocurrencies in the future. This is another sign that adoption in Australia is significant compared to other parts of the world. The fund in question is Queensland Investment Corporation (QIC), which manages $69 billion in assets and is Australia’s fifth-largest pension fund,

However, Australian media also points out that even though almost 1 in 5 Australians own some cryptocurrency, there is no formal regulation of crypto trading in Australia. The article explains that in 2020, Australians alone suffered $328 million in losses from bitcoin investment fraud, and that’s just the public ones.

Sign up for our FREE mailing list

Join 12,590 others now and get actionable research and analysis sent directly to your inbox.

Post a Comment

GET YOUR CRYPTO DAILY BRIEF

Delivered daily, straight to your inbox.