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- Independent Reserve has conducted a survey to reveal the gaps in digital currency investment awareness in Australia
- More than 1100 Australians responded to the survey
- The survey divided age and also gender, in the crypto awareness report
- However, the report concluded that the younger generation is more concerned about digital currencies
Independent Reserve, an Australian digital exchange, has recently shared a survey report highlighting the Australians’ crypto investment awareness. The survey report revealed that one in every five resident from Australia is owning some form of virtual currencies. More than 1100 Australians had responded in the survey.
Crypto adoption criteria according to the survey
From the survey report, it is found that 18% of the respondents have plans to get crypto tokens within the next 12 months. The report also found that the Australian residents above the age of 45 and women are more hesitant to use digital currencies. Among the respondents in the age category between 25 to 34 years, 13% spend more than $500 in a month, which is 4.7 times higher than other age groups. As under the age group of 18 to 24 years and 35 to 44 years have followed with just 6% about cryptos’ uptake. However, the stats of high-end tier inventors investing more than $10,000 in a month has been doubled from 2019 to 16.7%
With age, gender was also divided in the report
In addition to the age group, gender has also been divided into the exchange’s awareness of digital currency. According to the survey report, it is revealed that according to gender, only 10% of females own some form of cryptos, whereas, among male, the adoption rate is 27%. On the other hand, only 12.4% of females have plans for adopting digital currencies over the next year, which is only half of the men. It is also found that only 6% of females spend more than $100 on cryptocurrencies than 15% of males. However, only 7% of women predict that the price of Bitcoin will surge by more than $30,000 in the next decade, which is less than half of the men.
Impact of COVID-19 on crypto adoption by Australians
The survey also queried about the impact of the global pandemic over the adoption of cryptocurrencies. According to the survey, 36% of the respondents who intended to buy cryptos this year, have accepted that their decision was directly after the economic stagnation. On the other hand, it is also found that 21% of the respondents have bought cryptos while being negatively affected by the economic damage.
However, the report concluded that younger generations between the age limit of 25-34 are more concerned about the impact of cryptos on their financial future. On the other hand, within the age group of 55-64 years are not that much concerned about the cryptocurrencies, which might affect the investment awareness.
