Australian Crypto Adoption Increased With 20% Citizens Owning Crypto

The Australian crypto adoption increased with about 20% of the citizens owning crypto according to the latest reports that we have in today’s cryptocurrency news.

A new survey conducted by the Australian crypto exchange independent Reserve shows that about 90% of the locals heard of at least one crypto asset and nearly one in every five respondents said that they own a digital asset. The report highlighted that its Independent Reserve Crypto index survey reached everyday Australians and reflected the nation as a whole rather than focusing on digital asset users.

The number of people who heard of at least one crypto asset increased by over 90% in a year to 91.4% which is somewhat expected, as the first cryptocurrency leads the market awareness with 89%. The difference with the second biggest crypto asset Ethereum is also substantial as the charts show. Bitcoin’s popularity was equal among women and men but men were 3 times more likely to have heard of any crypto-like EOS, Litecoin or Ethereum.

The report said that younger generations between 18-24-year-olds, are more likely to be aware of the Defi tokens with 14.4% while the overall figure reached 7.8%. when it comes down to buying crypto, the report numbers are more compelling. The paper classified this as the key indicator of Australian attitudes to crypto as an actual adoption. About 18.4% of the respondents answered that they own one digital asset at least which is an increase from the past year’s percentage of 16.8%. The age group between 25 and 44 displayed the most growth in one year while 10% of UK citizens noted that they bought digital assets according to the study.

The Australian crypto adoption results reaffirmed the stance that BTC is still the most popular asset for Australians but Ripple surpassed ETH and took over the second spot. More people took advantage of the 2020 bull run in the crypto market and about 40% made profits by expanding their digital asset portfolio. 21.8% said that their wealth dropped because of bad crypto investment. But, older citizens made some profits as the report noted, due to their conservative trading approaches.