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Insights On Australia’s Crypto Adoption As Per Finder Survey

Insights On Australia’s Crypto Adoption As Per Finder Survey

According to the survey done by Finder’s Cryptocurrency Adoption Index, Australia, with a 17.8% rate of crypto ownership, has the third-highest rate of crypto adoption in the world.

Aussies Love Crypto

Comparison site Finder has recently published the results of their global cryptocurrency research, in which they survey a total of 41,645 individuals across 22 countries. Normally, the sample sizes for these studies range from 1000 to 2500 people and are directly proportional to population size. Of the total 1003 Australian adults that were surveyed, 17.8% were found to own cryptocurrency. This number represents the country’s crypto ownership rate, which is much higher than the global average of 11.4%. The ownership rate also indicates that around 1 in every 5 Australians hold some form of cryptocurrency. 

Australia was preceded by the countries of Nigeria and Malaysia, which hold the number one and two spots on the Finder Index for crypto adoption. According to the survey, 24.2% of Nigeria has crypto ownership, while the rate is 18% for Malaysia. The US, incidentally, holds the tenth position on the Finder Index. 

Popular Cryptos In Australia

The study also investigated deeper into cryptocurrencies that were currently being favored by the countries. For example, BTC is heavily preferred in Australia, with around 65% of crypto owners dabbling in the crypto. Other preferred cryptos in Australia include Ethereum (42.1% crypto holders) and Cardano (26.4% of crypto holders), which is the most ADA held by any country globally. Finally, Dogecoin and Binance Coin have also shown popularity among the Australian crypto circles, with around 23% and 14.6% ownership among crypto holders in the country. 

Other Findings About Aussies In Crypto

According to Finder CEO Fred Schebesta, Australia’s love for gambling could play a role in their widespread acceptance of cryptocurrencies. 

He also noted,

“[The Australians] are also super savvy in terms of finance ... the laws around crypto make it super smooth to buy and sell...Banking in Australia is really smooth and super easy to withdraw and deposit. Other countries have a lot more laws and challenges around getting your money in and out [of crypto].”

Finally, the study also showed that Australian men are more likely to invest in cryptocurrency. Around 59.6% of the crypto owners are male and the remaining 40.4% of crypto owners are female. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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