Australia Ranks Last Out of 20 Countries in Digital Currency Ownership
Categories: Crypto News
Australia Ranks Last Out of 20 Countries in Digital Currency Ownership
New data from the United Nations Conference on Trade and Development (UNCTAD) shows that only 3.4 percent of Australians own crypto, placing the country last on the list of 20. The result for Nigeria is also significant in its population of 211 million. Of course, just over 13 million owned digital currencies in 2021.
Crypto Awareness Still Low in Australia
By comparison, a recent study by research firm Roy Morgan found that more than a million Australians, out of a total population of about 26 million, have some form of crypto. Another survey published in December last year found that only one in 10 Australians knew what cryptocurrency was.
UNCTAD acknowledged in its findings that cryptocurrencies have grown in popularity in some third world countries because they are "an attractive channel for sending remittances". UNCTAD also found that middle-income individuals in hyperinflation-affected developing countries either own or have cryptocurrencies as they are seen "as a way of protecting household savings."