Greater than 1.07 million Australians now personal at the least one cryptocurrency, in line with new analysis from Roy Morgan
That’s round 5% of the grownup inhabitants. Whereas Bitcoin and Ethereum are investor favourites, area of interest cash resembling Ripple, Cardano, Dogecoin, Shiba Inu, Solana, Binance Coin, Litecoin, Cronos, Polygon and different are a part of the combo, with the analysis revealing some stark demographic insights.
Greater than two-thirds (69%, 742,000) of crypto traders are males, in comparison with lower than a 3rd (31%, 332,000) who’re girls.
By age, the beneath 35s make up the vast majority of traders (59%). That equates to greater than one-in-ten Australians beneath 35.
Of all crypto holders 391,000 (36%) are aged 25-34 and 248,000 (23%) are aged 18-24.
The remaining 41% of the whole investor market includes of 296,000 aged 35-49 (28%) and 138,000 aged 50+ (13%).
Cryptocurrency traders by Gender & Age: February 2022 Supply: Roy Morgan Single Supply, December 2021 – February 2022, n=15,989. Base: Australians 18+.
The beneath 35s will not be putting the most important bets, accounting for simply over a 3rd of the market’s complete worth.
And whereas they’re much less more likely to be cryptocurrency traders, Australians aged 35 and older have a major slice of Australia’s cryptocurrency market as a result of common dimension of their investments. The 50+ traders have the most important common cryptocurrency stake with n common worth of round $56,200.
This dimension of common funding means the worth of all cryptocurrency holdings for folks aged 50+ is round $7.6 billion – increased than some other age group and over 35% of the whole market.
In distinction, though they’re almost definitely to be traders out there, Australians aged 18-24 have a mean cryptocurrency funding of solely $2,600 for a complete worth of all cryptocurrency investments for this age group is simply $630 million – about 3% of Australians complete cryptocurrency market.
The funding profiles of Australians aged 25-34 and 35-49 are related. Individuals aged 25-34 have a mean cryptocurrency funding of $18,200 whereas for these aged 35-49 it’s barely increased at $21,600.
As a result of they’re extra more likely to be traders in cryptocurrency the dimensions of the marketplace for these aged 25-34 is barely bigger at $7 billion (32% of the market) than for these aged 35-49 at $6.4 billion (30%).
Evaluation by gender reveals the common funding dimension for males of $23,400 is almost twice as excessive as the common funding for girls of $12,800.
This massive distinction means males maintain complete cryptocurrency investments of $17.4 billion (81% of the market) in comparison with solely $4.2 billion (19%) for girls.
Complete worth of Cryptocurrency investments by Gender & Age: February 2022
Supply: Roy Morgan Single Supply, December 2021 – February 2022, n=15,989. Base: Australians 18+.
Roy Morgan Analysis CEO Michele Levine mentioned previous few years have seen a giant enhance within the variety of Australians who’ve invested into cryptocurrencies.
“The newest analysis into Australia’s cryptocurrency traders exhibits over 1 million Australians aged 18+ now have an funding in cryptocurrency – at a mean worth of simply over $20,000,” she mentioned.
“Investing in cryptocurrencies is a novelty for a lot of Australians and as our newest analysis exhibits solely round 1-in-20 Australians at the moment maintain a cryptocurrency funding. This small penetration of cryptocurrency traders exhibits there’s nonetheless the potential for big development out there over the following few years as extra Australians turn out to be uncovered to this type of investing.”
