Australia surpasses Indonesia and Hong Kong in levels of crypto ownership

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Oct 19, 2021
  • Finder’s survey has shown that Australia has the third-highest level of crypto adoption.
  • Survey also shows that 1 in 5 adults in Australia own some form of cryptocurrency.
  • Growing crypto adoption attributed to a friendly crypto environment.

A recent survey from Finder has shown that Australia has the third-highest rate of cryptocurrency adoption compared to other countries. The level of crypto ownership in the country comes in at 17.8%.

The Finder’s survey was conducted using a Cryptocurrency Adoption Index. This index is used to measure the level of crypto growth globally. The index is calculated through regular surveys of more than 41,600 people in 22 countries.

Australia Surpasses Global Average

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The survey also showed that Australia had outperformed other countries such as Indonesia and Hong Kong by this metric. While crypto ownership in Australia came in at 17.8%, the same came in at 16.7% and 15.8% in Indonesia and Hong Kong, respectively.

The Finder results also showed that the global average for crypto ownership came in at 11.4%, showing that Australia’s love for cryptocurrencies was high.

Commenting on the survey results, the CEO of Finder, Fred Schebesta, stated that Australians love to gamble. They are also super savvy in terms of finance… the laws around crypto make it super smooth to buy and sell.”

Finder also found out that one out of five adults in Australia owned some form of cryptocurrency. Moreover, the results showed that Bitcoin was the most preferred coin by Australians, with around 65.2% of Australians holding Bitcoin (BTC/USD). Australia also ranked as the fifth country with the largest percentage of Bitcoin holdings out of the 22 countries involved in the survey.

Australians are also investing in Altcoins

The survey also shows that Australians also have substantial holdings in altcoins. Ethereum (ETH/USD), the largest altcoin, was the second-most popular cryptocurrency in Australia. The number of Ethereum holders came in 42.1%. Meanwhile, the percentage of adults with Cardano (ADA/USD) holdings came in at 26.4%.

The other popular cryptocurrencies in Australia are Dogecoin (DOGE/USD) and Binance Coin (BNB/USD), which had a 23% and 14.6% share, respectively.

Schebesta attributed the growth of cryptocurrencies in Australia to the easy deposit and withdrawal processes enabled by banks. He noted that Australia had friendly laws towards crypto while “other countries have a lot more laws and challenges around getting your money in and out of crypto.”

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