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Tuesday, July 16, 2024

Australia Has Third Highest Rate of Crypto Adoption in the World

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Recently a survey published by the Finder, that shows Australia is more bullish on cryptocurrencies than most other countries around the world.

The survey, based on the site’s Cryptocurrency Adoption Index, measures the growth of crypto globally through a regular survey across 22 countries with over 41,600 individuals.

Finder’s survey found that Australia has the 3rd highest rate of crypto ownership at 17.8%, followed by Indonesia at 16.7% and Hong Kong with 15.8%.

The Average global rate of cryptocurrency adoption rate is around 11.4%.

Australia crypto adoption

“Australian’s love to gamble,” Fred Schebesta, CEO of Finder, told CoinDesk. “They are also super savvy in terms of finance … the laws around crypto make it super smooth to buy and sell.”

Nearly 1 in 5 adults in Australia who own crypto, Finder found bitcoin is the most popular coin with a share of 65.2%, Ethereum, is the second most popular coin with a share of 42.1% while cardano’s share comes in third at 26.4% followed by Dogecoin at 23% and Binance Coin at 14.6%.

In Australia, men are more than likely to own cryptocurrency than women, as roughly 21.8% of Australian men say they hold crypto compared to 14.1% of women.

Australia has one of the highest percentages of crypto owners that hold the coin at 64.8%, rank Australia 5th out of  22 countries in regard the  Bitcoin dominance. Globally, of those that own cryptocurrency, an average of 58.9% own Bitcoin.

“Banking in Australia is really smooth and super easy to withdraw and deposit,” Schebesta added. “Other countries have a lot more laws and challenges around getting your money in and out [of crypto].”

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