The latest research into Australians’ investments shows that 5%, or over a million Australians aged 18+, now own at least one crypto. Leading cryptocurrencies include well-known Bitcoin and Ethereum and more niche names such as Cardano, Ripple, Shiba Inu, Dogecoin, Binance Coin, Solana, Cronos, Litecoin, and Polygon, and many more.
Interestingly, over two-thirds, or around 742,000 (69%), of Australian cryptocurrency investors, are men compared to only 332,000 (31%) women, which indicates a significant gender difference in investments in cryptocurrency.
Even though they are less likely to be crypto investors, older Australians aged 35 and older are still important parts of the cryptocurrency market in Australia due to the size of their average investments.
Australians aged 50+ have the largest average cryptocurrency investment at an average value of around $56,200. This average investment size means the value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion – higher than any other age group and over 35% of the total market.
On a global scale, Australians are crypto enthusiasts. It is more bullish on cryptocurrencies than most other countries around the world. One of the major reasons behind it might be the country’s government and regulators being seemingly open to crypto and blockchain industry growth.
The most popular cryptocurrency in Australia is bitcoin. Almost 9% of the population owns BTC, which has fallen from 13% since the beginning of the year. Bitcoin’s declining usage points toward the increasing investment in other cryptos like Ethereum, Cardano, dogecoin, and bitcoin cash.
If you are a fanatic and would like to buy bitcoin in Australia, there are some measures that you should take into consideration beforehand. As we already know, the crypto market is risky, and you can easily lose your capital if you don’t know what you’re doing. Therefore, before investing your money into bitcoin or any other crypto coin, make sure to get familiar with it and research the most affordable and trusted ways where you can get the coins.
List of the 5 most popular crypto coins in Australia:
- Bitcoin
- Ethereum
- Solana
- Cardano
- Litecoin
Bitcoin
Bitcoin is by far the most promising long-term crypto investment. In addition, it is the pioneer cryptocurrency originally designed to replace fiat currencies and has been adopted as a store of value against traditional investments. However, even with its massively volatile price action, it has won investor interest, as evidenced by the rising Bitcoin dominance.
Through its overall up-trending price action, Bitcoin has shown its resilience. Therefore it is the most valuable crypto and has also survived bans by the national governments and mounting criticism from the political class, banking industry, mainstream media, and environmentalists. Granted, some of these made it stumble, triggering highly volatile market crashes. But BTC always recovers, which is a testament to its resilience and reliability as a long-term investment.
Other factors that make Bitcoin a good long-term buy include addressing a real and urgent global inflation problem. As these developments evolve, Bitcoin’s value is expected to continue rising. As a result, some optimists are confident that BTC will break above $1 Million by 2030.
Ethereum
Ethereum was launched in 2015, and 7 years later, it has turned into the largest smart contract platform. In addition, it is also the largest DeFi platform and is home to most emerging crypto technologies.
Ethereum has turned into the internet of blockchains. This is enough for us to include it on our list of the top long-term investments for 2022.
At the moment, at the height of a contracting crypto market, Ethereum’s ROI exceeds 650000%. The platform has outperformed Bitcoin as one of the most used blockchain technologies. Over the next few years, crypto analysts are convinced that ETH will overtake Bitcoin as the most valuable cryptocurrency.
It will also be made possible by developing Ethereum protocols, including Layer 2 and sidechains. These will have the net effect of pumping up the demand for ETH tokens against a slowed-down supply. As a result, These will help ETH resume and surpass its all-time-high, further confirming why it is a good long-term crypto investment.
Ethereum is a choice of program developers because of its potential uses, like so-called smart contracts automatically running when conditions are met and non-fungible tokens.
Ethereum has also experienced remarkable growth. Thus, from April 2016 to the beginning of June 2022, its price pushed from about $11 to over $1,800, increasing by almost 16,300%.
Solana
Solana is the fastest-growing smart contract platform. Even though it has been around for two years, during this period, its popularity and user base swelled, developer activity on the network rocketed, and SOL token prices shot up by more than 13000 times. As a result, its market cap peaked above $78 Billion, and the Solana ecosystem grew exponentially. Moreover, it has not shown any signs of slowing down its mission of defeating Ethereum as the most useful and preferred smart contract platform.
Solana is on a mission to establish its blockchain’s sustainability and confirm its future. As a result, it allows developers to make and launch Web3 apps and programs, hosts dozens of decentralized exchanges and is home to several dApps and DeFi protocols.
When it launched in 2020, SOL’s price started at $0.77. By early June 2022, its price was around $40.58, a gain of more than 5,100%.
Cardano
Cardano is presently the largest smart contract platform and one of the fastest-growing blockchain technologies. But more importantly, Cardano is arguably one of the most secured blockchains, noticing that both the Cardano blockchain and integrated protocols are comprehensively researched and peer-reviewed. This level of security proves Cardano’s blockchain and confirms its sustainability, which is the main reason why we add it to the list of the best long-term crypto investments.
But the Cardano development team is looking to make their blockchain more than sustainable. They are looking to make it usable. To achieve this, Cardano is on a mission to integrate as many emerging technologies just like its competitors – Ethereum and Solana. It has already integrated smart contract technology, launched an algorithmic stable coin, and is working on integrating DeFi, dApps, and Web3 technologies.
Cardano has become among the most active crypto assets in the crypto world over the past year. Moreover, the price of the all-time high ADA coincided with the launch of the hard-fork Alonzo in early September 2021.
After hitting an all-time peak in September 2021 at USD3.03, Cardano’s price continued to decline, and there was a sideway in October around USD2. Then on November 10, 2021, the value of ADA decreased until it finally broke out.
Wallet Investors view Cardano as a solid short-term and long-term investment. They predicted that Cardano could reach USD3.10 within a year and USD10.46 after five years.
Litecoin
Litecoin is usually referred to as digital gold. Besides the fact that it shares many similar attributes with Bitcoin, Litecoin is one of the oldest crypto assets in the market that exists in the top 10 cryptos by market cap. And this alone gives Litecoin an awesome guarantee as an investment and excellent lasting power when it comes to the fast-paced crypto market.
Litecoin’s code is almost identical to Bitcoin, including both a fixed supply and an LTC block reward like Bitcoin. Also, like Bitcoin, the Litecoin network is powered by proof of work consensus.
Developer activity persists to be strong with Litecoin. It was among the first to incorporate segregated observers and is often a testbed for Bitcoin development.
Litecoin’s close relationship to Bitcoin and its digital absence makes it especially valuable. On-chain activity shows a healthy Litecoin network with over 100,000 active addresses and processing roughly 40,000 transactions every 24 hours.
Investing in Litecoin, like other cryptos, can be done either by mining or purchasing LTC online in a few simple clicks on a crypto trading platform or exchange. Once you have Litecoin, you can decide between the various ways to invest in crypto.
Conclusion
So, here is the list of the best 5 cryptos which are widely popular and consumed in Australia. Even though Bitcoin has gone through severe oscillations in price, it still managed to be the number one choice among Australians. Like Bitcoin, Ethereum and Solana are also widely popular and probably going to stay on the top tier list for a long time.
Source: Roy Morgan Single Source, December 2021 – February 2022, n=15,989. Base: Australians 18+.
Interestingly over two-thirds, or around 742,000 (69%), of Australian cryptocurrency investors are men compared to only 332,000 (31%) who are women indicating there is a significant gender difference on investments in cryptocurrency.
The majority of cryptocurrency investors are under 35
Analysing cryptocurrency investors by age shows people aged under 35 are most likely to be holders of cryptocurrencies with over one-in-ten people in this age group investing in cryptocurrency. Of all ‘crypto’ investors 391,000 (36% of all investors) are aged 25-34 and 248,000 (23%) are aged 18-24.
Australians aged 35+ are less likely to be invested in cryptocurrency but still comprise over 40% of the total investor market including 296,000 aged 35-49 (28% of all investors) and 138,000 aged 50+ (13%).
Cryptocurrency investors by Gender & Age: February 2022
Source: Roy Morgan Single Source, December 2021 – February 2022, n=15,989. Base: Australians 18+.
Older Australians aged 50+ have the biggest average cryptocurrency investments
Although they are less likely to be cryptocurrency investors, older Australians aged 35 and older are still significant parts of the cryptocurrency market in Australia due to the size of their average investments.
Australians aged 50+ have the largest average cryptocurrency investment at an average value of around $56,200. This size of average investment means the value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion – higher than any other age group and over 35% of the total market.
In contrast, although they are most likely to be investors in the market, Australians aged 18-24 have an average cryptocurrency investment of only $2,600 meaning the total value of all cryptocurrency investments for this age group is only $630 million – about 3% of Australians total cryptocurrency market.
The investment profiles of Australians aged 25-34 and 35-49 are similar. People aged 25-34 have an average cryptocurrency investment of $18,200 while for those aged 35-49 it is slightly higher at $21,600.
Because they are more likely to be investors in cryptocurrency the size of the market for those aged 25-34 is slightly larger at $7 billion (32% of the market) than for those aged 35-49 at $6.4 billion (30%).
Analysis by gender shows men’s average cryptocurrency investment of $23,400 is nearly twice as high as the average investment for women of $12,800. This large difference means men hold total cryptocurrency investments of $17.4 billion (81% of the market) compared to only $4.2 billion (19%) for women.
Total value of Cryptocurrency investments by Gender & Age: February 2022
Source: Roy Morgan Single Source, December 2021 – February 2022, n=15,989. Base: Australians 18+.
Michele Levine – CEO, Roy Morgan Research, says cryptocurrencies have been in the news heavily in the last few years as Australians look for alternative investment opportunities during a time of increasing upheaval in international markets:
“The last few years have seen a big increase in the number of Australians who are now invested into various cryptocurrencies. The most well-known cryptocurrency is of course Bitcoin which has a total market capitalisation of over $830 billion USD – more than twice as large as the second largest Ethereum with a market capitalisation of around $400 billion USD.
“The latest research into Australia’s cryptocurrency investors shows over 1 million Australians aged 18+ now have an investment in cryptocurrency – at an average value of just over $20,000.
“Unsurprisingly younger Australians are more likely to be invested in the cryptocurrency market with around 12% of people aged 18-24 and 11% of those aged 25-34 owning cryptocurrency compared to only 6% of people aged 35-49 and around 2% of those aged 50+.
“This breakdown of the market means around 640,000 cryptocurrency investors, almost 60% of the market, are aged under 35 compared to 430,000 aged 35+ (40% of the market). However, these figures hide a stunning reality – older investors invest far more money on average than younger investors and nearly two-thirds of the market by total value is held by those aged 35+.
“Cryptocurrency investors aged 50+ have an average investment of around $56,200 compared to only $2,600 for those aged 18-24. This means older Australians aged 50+ hold total cryptocurrency investments valued at $7.6 Billion AUD – more than 12 times as much as the $630 Million AUD held by those aged 18-24.
“There is an additional $7 Billion AUD held by those aged 25 -34 (average investment of $18,200) and $6.4 Billion AUD held by people aged 35-49 (average investment of $21,600).
“There is also something else about the cryptocurrency market that aligns with the notion of ‘nerds on computers’ – it is that Australia’s cryptocurrency market is heavily male dominated. Over two-thirds of Australian cryptocurrency investors, 742,000 (69%) are men compared to only 332,000 (31%) that are women.
“The average size of men’s investments, $23,400, is almost twice as high as the average investment for women of $12,800 meaning men hold over 80% of Australia’s ‘crypto’ investments by value at $17.4 billion AUD compared to only $4.2 billion (19%) for women.
“Investing in cryptocurrencies is a novelty for many Australians and as our latest research shows only around 1-in-20 Australians currently hold a cryptocurrency investment. This small penetration of cryptocurrency investors shows there is still the potential for huge growth in the market over the next few years as more Australians become exposed to this form of investing.”
For comments or more information please contact:
Roy Morgan – Enquiries
Office: +61 (03) 9224 5309
askroymorgan@roymorgan.com
A new survey by personal finance comparison site Finder took a look at which cryptoasset is the most commonly owned in specific countries, and in which countries do specific cryptoassets have seen the highest adoption rate.
The survey looked into 22 countries and 5 cryptoassets: bitcoin (BTC), ethereum (ETH), cardano (ADA), dogecoin (DOGE), and binance coin (BNB).
Among the studied countries, Finder found that Nigeria ranks first with a crypto ownership rate at 24.2%. It is followed by Malaysia at 18%, and Australia at 17.8%. Meanwhile, the global average is 11.4%.
A little over 1 in 10 – or 11.4% – surveyed adults globally own crypto, Finder said.
Looking at the percentage of people who own cryptocurrency, out of the 22 countries on Finder’s list, bitcoin takes the biggest share in all of them. The 3rd-placed Australia is followed by Indonesia and Hong Kong, while the US is in the 10th place, Canada in the 13th, Russia in the 18th, the UK in the 20th, etc.
While BTC takes the first spot as the most popular cryptoasset, the other spots change depending on the country. For example, ETH is the second-most popular on this list in most countries, but in Indonesia, Hong Kong, Brazil, and Colombia, it’s DOGE. In the Philippines, it’s BNB.
As for adoption statistics regarding these specific coins, BTC has the highest adoption in Japan with 76.7% of adults who own crypto saying they own this coin – which is 1.3 times the global average adoption rate of 58.9%. Japan is followed by South Africa and Singapore, while Germany is in the last spot, preceded by the US.
Ethereum is the most dominant in Singapore with 52.4% of crypto-owning adults saying they own ETH – 1.9 times the global average adoption rate of 27.4%. Australia and Canada follow it, with Hong Kong in the last place.
Cardano sees its highest adoption with crypto owners in Australia, at 26.3% – 1.4 times the global average adoption rate of 18.5%. Ireland and Russia take the 2nd and the 3rd place, with the BTC-adopting Japan at the very end.
BNB’s highest adoption is in Indonesia, with 26.9%, or 1.8 times the global average adoption rate of 15%. Then come Mexico and Russia, while Japan and South Africa are at the very bottom of the list.
Finally, DOGE is the most dominant in the US, with 30.6% of crypto owners saying they own it. This is 1.6 times the global average adoption rate of 19.2%. New Zealand and Indonesia follow the US, while Germany and Japan sit at the opposite end.
Finder says that the survey is designed by them and conducted by Google, adding that they regularly survey 41,645 individuals across 22 countries.
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Learn more:
– Almost 1 in 2 Respondents Plan Use Crypto For Payments In 2 Years – Survey
– Celebrity Endorsement Weighs Heavily for US Crypto Investors – Survey
– European, Asian Investors Drive Bitcoin, Ethereum Investments – Survey
– Lack Of Knowledge Is More Important Than Volatility For Crypto Newcomers
– Estimated Number of Crypto Users Reaches 221M, Spurred by Altcoins
– Surveyed UAE Nationals Keener to Invest in Crypto than Western Expats