Cryptocurrency information about Australia
It is estimated that 0.9 million people, 3.4% of the total Australian population, currently own at least one form of cryptocurrency.(1)
Crypto owners in Australia are mostly male (86%) and under the age of 34 (59%), while a quarter of Australian crypto-owners are under the age of 24.(2)
In 2017, more than a third of Australian crypto owners were using cryptocurrency as a payment method while majority of Australians (80%) said they would be willing to using crypto payments on a daily basis.(3)
Australians had been early adopters of crypto as a means of commerce and investment. The reason for that is quite peculiar. Most global markets are very oriented for European business, timewise. Australia, on the other side of the Earth, has completely different working hours. Cryptos, are traded around the clock, 24/7, making them much more comfortable for business coming from the Land Down Under.
“We, as a global crypto brokerage house, had foreseen this,” remarked Donald Reilly from the world-renowned trading brand InvestingCrypto, “and that’s why we were among the first to offer direct CFD trading on leading cryptocurrencies in Australia. And, of course, it’s not just about Bitcoin. There are thousands of active cryptocurrencies, but the secret is to know which ones are potentially profitable and which are just a bubble waiting to burst.”
While many nations have been – and are still – struggling to define their relationships with the crypto sphere, Australia was one of the first to tackle the issue. All the way back in 2013, before Bitcoin became so pricy, the Reserve Bank of Australia had already shown intentions of embracing and accepting it. On the other hand, rules had been put in place, including policies set to prevent money laundering through crypto trade.(4)