A survey of greater than 2000 Australian traders has discovered that cryptocurrency is a extra common funding than gold and silver — nevertheless it nonetheless has an extended method to go to catch as much as shares.
The ballot, carried out on behalf of BTC Markets over the month of February, discovered that 12.6% of Aussie traders maintain Bitcoin or different cryptocurrencies, in comparison with 12.1% who maintain valuable metals.
Nonetheless, the inventory market is by far the popular in possibility for traders, with 63.6% holding shares straight and 28.8% investing in both exchange-traded funds or managed funds. Property can be a preferred funding (25.8%), whereas 18.8% mentioned they invested in “collectibles”.
Australian crypto traders closely favor Bitcoin and Ethereum, with 83.2% holding Bitcoin and 42% holding Ethereum, adopted by Ripple with 28.5%, Litecoin with 18%, and Bitcoin money with 12%.
The analysis revealed that just about one-third of the cryptocurrency traders made their first funding after the COVID-19 induced market crash of March 2020. This analysis is backed up by one other ballot from October 2020, which revealed that 39% of respondents had found Bitcoin more appealing after the pandemic started.
Regardless of many cryptocurrencies rallying to all-time highs in recent months, 51% of Aussie traders said they’d no intention of promoting their crypto quickly, with 31% planning to exit after at the least three years of holding. Of the 49% who want to promote or take income, one in 5 traders intend to reinvest the capital again into crypto.
The most important demographic of Aussie crypto traders (36.3%) within the survey have been aged between 25-34 with, adopted by these aged between 35-44 at 30.1%. Males accounted for 63% of all crypto traders, and one in 4 earned an revenue of greater than $100,000 per 12 months.
BTC Markets CEO Caroline Bowler famous that an rising variety of older Australians are investing in crypto, with traders 60-plus doubling in quantity over the previous couple of years to make up 10% of the shopper base:
“Within the final 12 months, we now have seen a shift from 25-45-year-old males to a much wider age group, significantly early retirees who’re fascinated about diversifying their funding portfolio and are catching up with this fastest-growing asset class.”
The analysis is broadly in keeping with different polls, together with one in December that discovered virtually one in five Australian adults owned crypto in 2020.