Over one Million Australians Own Cryptos According to Recent Roy Morgan Survey
Categories: Crypto News US
The February survey investigated Australians’ investments and revealed that 5 percent, or just over one million Australians over the age of 18, now own at least one cryptocurrency. Over two-thirds, or 742,000 (69 percent), of Australian crypto investors are men, compared to only 332,000 (31 percent) who are women, indicating a massive gender difference when it comes to crypto investments. And Suspicions Raised as ETH Trader Buys $, in Tokens Before Coinbase Listing.
Most Crypto Investors Are Younger Than 35
The study revealed that people under 35 were more likely to be holders of cryptocurrencies, with over one-in-10 people in this cohort. Participants over 35 were less likely to be invested in digital assets, but still made up 40 percent of the total investor market, including 296,000 aged 35-49 (28 percent of all investors) and 138,000 aged 50 and older (13 percent).
Older Cohort Has Biggest Average Crypto Investments
The study revealed that participants aged 50 and older had the largest average crypto investments, averaging around A$56,000. The volume of investments in this cohort means the value of all crypto holdings of people aged 50 and up is around A$7.6 billion, higher than any other age group and accounting for 35 percent of the total market.Although more inclined to invest in cryptocurrencies, Australians aged 18-24 only hold an average of A$2,600, making the total value of investments for this group just A$630 million, or about three percent of the total market valuation.And Suspicions Raised as ETH Trader Buys $, in Tokens Before Coinbase Listing.
The market shares for Australians aged 25-34 and 35-49 were similar, with the former cohort averaging about A$18,200, while those in the latter group came in at A$21,600. Those aged 25-34 were more likely to invest in the market and thereby made up A$7 billion, or 32 percent, while those aged 35-49 owned A$6.4 billion, or 30 percent.
Gender Differences Are Significant
The analysis by gender revealed that men’s average investments totalled A$23,400, almost double those of women (A$12,800). This gender disparity shows that men hold 81 percent (A$17.4 billion) of the market, while women own just 19 percent (A$4.2 billion).The results of this study are significant and indicate positive sentiment toward crypto adoption, given that Australia lagged in the most recent global ‘Crypto Awareness’ survey, although another 2021 survey revealed that most Australians still have no idea about cryptos or NFTs. And Suspicions Raised as ETH Trader Buys $, in Tokens Before Coinbase Listing.
Australian research firm Roy Morgan has led a review into cryptographic money ventures. The review occurred between December 2021 and February this year; the outcomes were distributed Tuesday. Founded in 1941, Roy Morgan depicted itself as Australia's biggest free think-tank with "an unrivaled standing for dependable, precise, significant, uncovering statistical surveying." It has workplaces across Australia, as well as in Indonesia, the U.K., and the U.S.The firm viewed that as 69% of Australian cryptographic money financial backers are men, and individuals under 35 years are bound to be digital currency holders.
Michele Levine, CEO of Roy Morgan Research, commented: "This breakdown of the market implies around 640,000 cryptocurrency financial backers, practically 60% of the market, are matured under 35 contrasted with 430,000 matured 35+ (40% of the market)."And Suspicions Raised as ETH Trader Buys $, in Tokens Before Coinbase Listing
Another organization that has assessed the quantity of Australians putting resources into cryptocurrency is Triple A. "It is assessed that 0.9 million individuals, 3.4% of the complete Australian populace, as of now own something like one type of cryptographic money," the organization composed.
It's not unexpected for see that the fame of digital currencies has been expanding all around the world as of late. Many individuals consider digital currencies to be an elective venture choice and a method for differentiating their portfolio. Also, the ascent of blockchain innovation has prompted the making of new digital currencies and use cases for them, like decentralized finance (DeFi) applications.
In any case, it's vital to take note of that putting resources into digital forms of money can be hazardous because of their unpredictable nature and absence of guideline. It's significant for people to investigate as needs be and grasp the dangers prior to putting resources into digital currencies.