As per a recent study, 17% of the Australian population has crypto holdings to some extent. The most famous among these digital assets, whereas Ethereum is ranked on 2nd number and Dogecoin is on 3rd.
The crypto tendency in Australia
The Consumer-Sentiment-Tracker of Finder surveyed 1,000 Australians under Qualtrics. It disclosed that one in every six citizens had commenced crypto trading in the market of digital assets. The majority of the holders responded that they bought crypto assets for bringing diversification to their portfolios, and Bitcoin’s percentage among them counted up to 30%, but the altcoins valued 24%, whereas 17% of the crypto owners expressed that they entered the crypto market out of fear that they would otherwise miss it out (FOMO).
Men own almost double the percentage of crypto assets at 23% in comparison with women’s 11%. Nevertheless, a significant increase has been witnessed in the percentage of women as only 7% during January. By keeping a close eye on various age groups, it is estimated that every third individual of Generation-Z is likely a holder of crypto.
Notwithstanding the loss of a small proportion of its supremacy, Bitcoin consistently remains the prevalent currency in Australia because 9% of the citizens have reportedly invested in BTC. Ethereum has a very close position to it with covering 8% population, and Dogecoin is owned by 5% of the residents, which is slightly above 4% of Bitcoin Cash.
The founder of Finder ‘Fred Schebesta’ appreciated the advancement in digital currencies because it is turning out to be a developing asset class having the potential to evolve the economic network across the globe. He said that the cryptocurrencies like Bitcoin are elevating the financial system of the world as more people are adopting it. Notwithstanding the volatility, enormous progress has been seen in Bitcoin and Ethereum in addition to the other cryptocurrencies existing in Australia.
73% are still skeptical about Bitcoin
Although the crypto interest of the Australians might have increased, several of them are even now reluctant to enter the market. 43% of such people mentioned their apprehensions regarding the volatility and risk in the crypto space. Moreover, 22% of the Aussies, as implied by the research, stated to have no proper knowledge about purchasing digital currencies. It is noteworthy that 73% of the research participants considered Bitcoin to vanish shortly, and 63% acknowledged that it is speculative. Even then, every third of the Australians perceives a vibrant future regarding BTC.