24 Australia crypto adoption statistics, facts, and usage trends 2025

Australians were always pro-crypto, but now they’re finally embracing crypto with open arms. More people are purchasing and trading cryptocurrencies, showing how crypto-friendly the country is.

Because of this, the future of cryptocurrency in Australia is promising. With the government, investors, and other stakeholders trying to make cryptocurrency a general investment option, the cryptocurrency adoption rate will accelerate in the coming years.

Our research team at Invezz explored some exciting cryptocurrency adoption statistics to help you understand the adoption trend in Australia.

Key takeaways

• 95% of Australians are aware of at least one cryptocurrency in 2024.
• 63% of Australians own Bitcoins.
• 49% of crypto investors earn between $60,000 and $149,000 annually.
• Only 50% of Australians know the tax obligations related to crypto.
• 67% of cryptocurrency investors aged 65+ hold Bitcoin.
• Of the Australians who hold cryptocurrency, 69% are male. 
• 49% of Australians invest in the crypto market because of the influence of their friends and family members.
• Male investors invest a median of $8,300 in different cryptocurrencies. 
• 42% of Australians hesitate to invest because they think the price is too volatile and investments are risky. 

Crypto adoption in Australia

The crypto adoption in Australia shows a strong relationship between traditional financial systems and the digital economy. The growing crypto industry requires ongoing dialogue between regulators, investors, and stakeholders. Here are some cryptocurrency adoption statistics:

1. 95% of Australians are aware of at least one cryptocurrency in 2024. 

In 2022, 92% of Australian consumers were aware of digital currency. The good news is that respondents between 35 and 44 are ahead, with 98.6% of awareness reported. Cryptocurrency in Australia is slowly becoming mainstream, with more and more investors showing keen interest in digital assets.

2. 63% of Australians own Bitcoins.

In Australia, Bitcoin is the most owned asset class, and Solana is the least favorite asset class. The adoption rate of other digital assets are:

• Ethereum: 35%, 
• Ripple: 18%, 
• Cardano: 15%. 
• Solana: 9% 

3. 41% of crypto investors want to invest in Bitcoin in the next 12 months. 

Bitcoin has the highest crypto ownership.  28.5% of crypto investors believe Bitcoin will be worth $100,000 in the near future. With the growing interest and trust among crypto investors, more Australians plan to buy, sell, and trade Bitcoin.

4. 93% of Australians are familiar with Bitcoin. 

The bitcoin adoption curve is showing a steep increase since 2019. Interestingly, the awareness of Bitcoin has grown from 87% to 93% from 2019 to 2024. Ethereum is the second largest asset class, with 42% of Australians familiar with it, followed by Dogecoin at 36%.

Source: IRCI Australia

5. The cryptocurrency ownership rate in Australia is 27.5% in 2024. 

According to the Finder Survey, the global average crypto adoption rate was 15%. Australia’s adoption rate was 27.5% in 2024. In 2019, crypto ownership was just 16.8%. 

The higher adoption rate showcases Australia’s leadership role as a forward-looking financial market ready to adopt global trends and embrace new technologies and investments.

Source: Finder, IRCI Australia

6. More experience with cryptocurrency doesn’t translate to larger holdings.

Contrary to popular belief, more experience doesn’t necessarily translate to large crypto investments. Investors with less than one year of experience invest approximately $1,000. However, when crypto investors have experience between two and five years, they invest $8,100. However, when the investment experience is more than ten years, the size reduces to $2,500. 

Typically, investors with more experience have an in-depth understanding of crypto risks. Such investors prefer diversified investment strategies. They do not invest large amounts in cryptocurrency but spread their risk across different assets.

Source: ASX

How does income affect the adoption rate of cryptocurrency in Australia?

Income impacts the crypto adoption rate. As a rule of thumb, the higher your income, the higher your cryptocurrency investment should be. But is that the case? Read on to explore more about the crypto adoption statistics:

7. 49% of crypto investors earn between $60,000 and $149,000 annually.

In Australia, income decides who invests and who doesn’t. The crypto adoption curve reveals that holding a digital currency is no longer just for the super-rich. It’s slowly becoming an investment strategy for Australians with average incomes. 

People earning between $75,000 and $99,999 invested the most in the crypto market, closely followed by those earning between $60,000 and $74,999. 

8. Less than 5% of Australians earning between $200,000 and $499,999 own or have held cryptocurrency. 

The low percentage of cryptocurrency ownership shows cautious and conservative investment behavior. People in this income group may hesitate to invest because of perceived risks, traditional investment preferences, or regulatory complexities. It also suggests an opportunity for better education and regulatory clarity to increase the adoption rate.

Source: Koinly

How do tax obligations impact cryptocurrency adoption? 

Tax obligations are important when deciding whether to adopt crypto or own it.

9. Only 50% of Australians know the tax obligations related to crypto.

All Australian taxpayers declare their holdings of digital assets with the Australian Taxation Office (ATO). While the size of the population understands cryptocurrency, knowledge about taxation is low. The regulatory bodies should focus more resources on education and outreach activities to equip Australian citizens with the knowledge of their cryptocurrency tax obligations.

10. Of all Australians who invest, only 15,4% know they’re legally required to report their crypto investments to the ATO. 

Australian investors’ low level of awareness regarding their legal requirement to report crypto investments highlights an area that needs immediate intervention. Comprehensive educational efforts, simplifying the reporting process, and ensuring investors can access resources to understand their obligations are essential to addressing this issue. This benefits individual investors by reducing their risk of non-compliance while supporting the integrity of the Australian financial system.

Source: Koinly

Cryptocurrency adoption in Australia by age

Even an investor’s age is vital to the crypto adoption rate. Here are some statistics supporting this claim:

11. 67% of cryptocurrency investors aged 65+ hold Bitcoin.

These baffling statistics come as a massive surprise because worldwide, people aged 65+ are less likely to adopt and hold digital assets. However, the statistics are reversed in countries like Australia, where 67% of cryptocurrency owners are 65+ while 59% of those aged between 18-24.

Source: IRCI Australia

12. Retirees or people above 65+ invest just 1%their total portfolio in cryptocurrency. 

The largest crypto portfolio allocations across different age groups differ. For instance, wealth accumulators in the age group of 25-49 have a 7% allocation of cryptocurrency. Conversely, next-generation investors aged 18-24 have a 6% crypto allocation in their portfolio. 

13. Wealth accumulators invest a median of $7,200, whereas pre-retirees invest $3,600 in cryptocurrency.

The differing median investment values reflect different investment goals based on life stages. Wealth accumulators view cryptocurrency as a growth asset class. In contrast, pre-retirees may want to stabilize their portfolio with less volatile investments, so they use cryptocurrency as a minor portion for diversification.

Next-generation investors invest $2,700, while retirees’ median investment is $2,400. 

Source: ASX

Crypto adoption in Australia by gender

Males are more likely to adopt cryptocurrency, and these statistics reveal how Australia fairs: 

14. Of the Australians who hold cryptocurrency, 69% are male. 

A higher proportion of males than females engage with cryptocurrencies. Typically, males have more interest, knowledge, or confidence in investing in cryptocurrencies than females.

Some factors preventing females from investing in digital currencies are limited access to blockchain technology information, financial resources, risk tolerance, or societal norms and expectations about gender roles in finance and technology.

15. Male investors invest a median of $8,300 in different cryptocurrencies. 

The attitude towards financial risk is different among males and females. This is reflected in the amount of money they invest in cryptocurrencies. The median investment of male investors is $8,300, while that of females is just $1,700. 

The median investment size indicates a higher acceptance of risk among male investors. Cryptocurrencies are highly volatile, and such a huge investment by males suggests a willingness to engage with this risk.

16. Among all crypto investors, 16% of males are ready to accept a higher variability with the potential for higher returns.

In the Australian cryptocurrency market, crypto ownership is higher among male investors because they’re ready to accept higher volatility in exchange for higher returns. A willingness to accept higher volatility for greater returns indicates a risk-taking cryptocurrency investment strategy. It shows that some investors prioritize the opportunity for substantial gains despite the risks.

Conversely, female investors are unwilling to tolerate high levels of risk.

Source: ASX

Crypto adoption reasons

Understanding the factors influencing crypto ownership is essential for investors and financial advisors aiming to make informed decisions in this dynamic market. 

17.49% of Australians invest in the cryptocurrency market because of the influence of their friends and family members.

This cryptocurrency adoption statistic shows the impact of social networks and peer groups on financial decisions. Friends and family members can be crucial in shaping one’s views toward new and emerging investment opportunities. When friends and family hold crypto and share their experiences, it reduces perceived risks and increases the attractiveness of crypto as an investment for young adults.

18. Only 5% of Australians buy crypto for goods and services.

Only 5% of Australians buy crypto to buy goods and services. Australians consider cryptocurrencies an investment option rather than a currency they can use every day. The probability of achieving high returns is more important than the initial purpose of cryptocurrencies, which was to be a decentralized digital currency.

Source: IRCI Australia

Barriers to cryptocurrency adoption

Often, investors may feel reluctant to buy, sell, and trade cryptocurrency. Some barriers to crypto adoption are:

19. 42% of Australians hesitate to invest because they think the price is too volatile and investments are risky. 

While the Bitcoin adoption rate has increased steadily, many Australians hesitate to invest in it. Price volatility and investment risks remain the leading reasons for these barriers. Conversely, 38% of investors think there’s a lack of consumer protection and regulation, while 36% consider it confusing or difficult. 

Interestingly, 20% of Australians consider it a scam, and 20% fail to adopt it because they don’t know where to start their investment. 

20. 38% of Australians feel a lack of consumer protection and regulation is a barrier to cryptocurrency trading and its adoption rate.

The statistics also indicate public demand for a definitive, integrated Australian government framework to ensure safety and security in cryptocurrency markets. This mirrors fears of fraud, scams, and financial loss in an environment many investors consider too unregulated.

21. 20% of Australians consider cryptocurrency a scam, and 29% don’t invest because they’re not interested in digital currencies.

As many Australians view cryptocurrency as a scam, there’s a different perception among investors. High-profile cases of fraud and scams within the crypto industry are a few reasons for this perception. 

Conversely, 29% of Australians show no interest in digital currencies. However, they show different levels of digital literacy and comfort with online financial transactions. Those less comfortable with or knowledgeable about digital and financial technologies are less inclined to explore these currencies.

Source: IRCI Australia

Future of Bitcoin adoption

Time and again, we have stressed how the crypto market will witness an increase. And Bitcoin is no exception. The future of Bitcoin is optimistic, and these cryptocurrency adoption statistics support this claim:

22. After the approval of Bitcoin ETFs in the US, 25% of Australians viewed Bitcoin as more favorable.

In January 2024, almost 15 years after the first Bitcoin, the Securities and Exchange Commission (SEC) approved the first Bitcoin spot Exchange Traded Funds (ETFs). The approval of the Bitcoin ETFs in the US has increased Australians’ views about Bitcoin.  Interestingly, 57% of cryptocurrency investors are aware of this approval. 

23. 24% of Australians view Bitcoin negatively despite the ETF approvals. 

Even after the landmark decisions, many Australian investors view Bitcoin negatively. While 29% remain neutral, more than 32% of those aged 55+ view Bitcoin negatively. Despite the Australian government’s efforts to mainstream Bitcoin through ETFs, investors are concerned over volatility, security, environmental impact, or the potential for misuse.

The negative perception highlights an education and awareness gap. Misunderstandings or lack of information about Bitcoin, how it works, and its potential benefits versus risks can increase negative perceptions.

24. 52% of crypto investors prefer Bitcoin over other digital assets.

Bitcoin’s widespread recognition makes it the first choice for investors. Despite being volatile, Bitcoin is a more stable and secure digital asset. Its longevity, larger market capitalization, and robust network contribute to this perception, making it a preferred choice for crypto investors.

Source: IRCI Australia

Wrap up

Overall, overlooking the crypto ownership statistics shows that Australia has millions of savvy and enthusiastic investors. The fantastic growth of the crypto adoption curve, reflected in the adoption rate, will place Australia among the nations leading in crypto adoption. 

As more people continue to accept digital currencies, the crypto industry is likely to grow, and the adoption rate will be exceptionally high among every age group.