Bitcoin Down Under: Australia Ranks 4th in Global Crypto Adoption – Survey
Bitcoin adoption has always been the subject of rigorous debates in many countries today.
With financial powerhouses like the US and China still taking a hard stance against cryptocurrencies, it remains to be seen whether the adoption of crypto by various nations will peak in the near future.
After all, the respective governments of the above countries continue to associate digital assets like Bitcoin with illegal matters.
But this does not necessarily mean that other countries will follow suit. In fact, there are nations that are slowly taking the necessary steps to properly adopt crypto in their financial system.
Australia, for example, is already turning heads in the crypto space after it recently emerged as one of the top nations in terms of crypto adoption.
Australia moves up in the ranking
A September 2022 report by Finder ranks Australia 4th out of 26 nations surveyed for crypto adoption.
The country’s cryptocurrency ownership rate was at 23%, just a few points below first-place India, which had a rate of 29%.
Bitcoin, Ethereum, Dogecoin and Cardano were the popular cryptocurrencies held by people Down Under.
Source: Finder's Cryptocurrency Adoption Index
The report shows that 14% of the 272,257 people surveyed in the country owned Bitcoin. Meanwhile, 10% of survey participants revealed that they own Ethereum.
Dogecoin and Cardano barely made the cut, gaining 5% and 4% respectively.
Is Australia a Bitcoin country?
The global average of Bitcoin ownership is 36%. Australia is well above that with an average of 60%. It’s probably safe to say it’s a Bitcoin country.
After all, it is quite normal for those who invest in these types of assets to go for the top of the class.
Moreover, the survey also found that men in Australia are more likely to own crypto compared to women.
Source: Finder's Cryptocurrency Adoption Index
Among the surveyed owners of digital currencies, 62% were men and only 38% were women. Australia is not that far from the US where 74% of crypto owners are men.
There are around 4.6 million Aussies who own cryptocurrencies. They are relatively young, as shown in the survey.
Based on Finder’s findings, 57% of crypto owners are between the ages of 18 and 34.
Meanwhile, the study also found that Aussies aged 55 and over are less likely to own any digital currency.
BTC total market cap at $361 billion on the daily chart | Source: TradingView.com
Featured Image from Envato Elements, Chart: TradingView.com
