In the year 2018 was born the market in three folds and has increased Australia’s Crypto Holdings, According to a survey conducted by Finder-backed brokerage firm HiveEx, the number of people who are holding cryptocurrencies in Australia has nearly tripled in the year 2018 despite the bear market.
The cryptocurrency market has crashed from the height of the crypto mania, interest for cryptocurrencies is growing at a rapid pace in Australia. According to HiveEx, there are different reasons behind the growing interest of cryptocurrencies in Australia and different people have a different purpose behind cryptocurrency investment like
- 50% respondent are holding cryptos as an investment
- 34% are holding because of fear of missing out (FOMO)
- 26% are saving for retirement
- 65% of those who do not have any cryptocurrency said that they do not understand the concept of cryptocurrency or it is too difficult to use them.
- One in every five Australian believes that cryptocurrency is a scam. The same numbers of Australian think that crypto is a bubble which will soon bust.
- Participants who do not hold cryptocurrencies are more interested in bitcoins as their first crypto investment.
Recently HiveEx conducted a survey of 2000 people and found 13.5% owned cryptocurrencies while these number at just 5% when the same study was conducted by the firm in January.