Share this article
Crypto Adoption in Australia Grows Along With Concern Over Volatility
Around one in six Australians owns crypto, a report by Finder showed.
Updated Sep 14, 2021, 1:12 p.m. Published Jun 17, 2021, 1:42 p.m.
Crypto ownership in Australia has grown since the beginning of the year, though volatility remains a barrier to wider adoption, a new report has shown.
- Around one in six (17%) Australians owns crypto, according to the report by Finder, The Australian reported Thursday. That's up from 12% at the start of the year. The article did not say how many people were surveyed.
- The most popular currency, bitcoin, is owned by 9% of Australians though this has fallen from 13% at the start of 2021. Bitcoin's decline reflects the increasing popularity of ethereum (8%), dogecoin (5%) and bitcoin cash (4%).
- Crypto adoption appears to be constrained by concerns over volatility. As many as 43% of Australians saw volatility as a deterrent to investing, a 14% increase since January, The Australian said.
- Nearly one-third of respondents (32%) would rather buy stock shares or keep their money in savings. One-quarter (25%) say crypto assets are overvalued, an increase of 9 percentage points more than at the beginning of the year.
Read more: Australian Tax Office Warns Investors to Report Crypto Gains and Losses
More For You
Wrapped XRP on Solana lets XRP holders access Jupiter, Phantom, and Meteora without selling the asset, the latest step in Hex Trust's multi-chain wXRP rollout first announced in December.
What to know:
- Wrapped XRP (wXRP) has launched on Solana via custodian Hex Trust and cross-chain protocol LayerZero, making XRP usable in Solana’s DeFi ecosystem for the first time.
- Each wXRP is backed 1:1 by native XRP held in segregated custody accounts and can be redeemed at any time, allowing holders to deploy...
Top Stories
