Australia | 2021

Cryptocurrency adoption data and trends in Australia in 2021

3.4

%

of Australians
own cryptocurrency

How many cryptocurrencies owners are there in Australia?

It is estimated that 0.9 million people, 3.4% of Australia’s total population, currently own cryptocurrency.(1)

Australian cryptocurrencies ownership demographics

Cryptocurrencies owners in Australia are mostly male (86%) and under the age of 34 (59%), while a quarter of Australian cryptocurrencies-owners are under the age of 24.(2)

Australia – the next potential cryptocurrencies hub?

In 2017, more than a third of Australian cryptocurrencies owners were using cryptocurrency as a payment method while the majority of Australians (80%) said they would be willing to use cryptocurrencies payments on a daily basis. (3).

 

Australians had been early adopters of cryptocurrencies 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. Cryptocurrenciess are traded around the clock, 24/7, making them much more comfortable for business coming from the Land Down Under.

 

“We, as a global cryptocurrencies brokerage house, had foreseen this,” remarked Donald Reilly from the world-renowned trading brand InvestingCryptocurrencies, “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 cryptocurrencies 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 cryptocurrencies trade. (4)

Cryptocurrencies’s rising popularity in Australia

Australian Times: Why Australia could be the leader of the next phase… – April 2021
Given the connection between the Australian people and cryptocurrency investing, along with the favorable regulatory conditions and the trustworthy trading platforms, it can be said that Australia is a gateway to the cryptocurrencies trade of tomorrow.

Coindesk: Major Australian Fintech Firm May Offer Cryptocurrencies Trading… – April 2021
One of Australia’s largest “buy now, pay later” companies is reportedly looking at a move into stock and cryptocurrency trading. According to a report by the Wall Street Journal on Tuesday, Zip Co. co-founder Peter Gray said his company was looking to provide trading services through its native app in a bid to further engage its typically young consumers.

Cointelegraph: Australia’s first cryptocurrencies-friendly IPO will accept Tether… – October 2020
Sydney Stock Exchange chief executive Michael Go applauded Stax for the revolutionary step towards cryptocurrency adoption in Australia.

Cointelegraph: Australia could become a future hub for cryptocurrencies derivatives… – July 2020
Mine Digital CEO Grant Colthup said Australia’s recent success in the cryptocurrencies space could be extended to Asia.

Coindesk: Kraken Launches Cryptocurrencies Exchange Service in Australia… – June 2020
The exchange said it would offer instant funding to those users who make deposits via Okso and PayID-enabled Australian bank accounts.

ASIC: Australia’s regulator ASIC formally recognises cryptocurrencies… – May 2019
Official regulatory information sheet for Initial Coin Offerings (ICOs) and cryptocurrencies-assets.

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