Crypto Adoption in Australia Grows Along With Concern Over Volatility!

Article originally posted by Coindesk by Jamie Crawley

Around one in six Australians own crypto, a report by Finder showed.

Crypto ownership in Australia has grown since the beginning of the year, though volatility remains a barrier to wider adoption, a new report has shown.

🔹Around one in six (17%) Australians owns crypto, according to the report by Finder, The Australian reported Thursday. That’s up from 12% at the start of the year.

🔹Bitcoin — owned by 9% of Australians — is the most popular currency, though this has fallen from 13% at the start of 2021. Bitcoin’s decline reflects the increasing popularity of ethereum (ETH, -2.2%) (8%), dogecoin (DOGE, -0.88%) (5%) and bitcoin cash (BCH, +0.74%) (4%).

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🔹Crypto take-up appears to be constrained by concerns over volatility. As many as 43% of Australians saw volatility as a deterrent to investing, a 14% increase since January, The Australian said.

🔹Nearly a third of respondents (32%) would rather buy shares or keep their money in savings. A quarter say crypto assets are overvalued, 9 percentage points more than at the beginning of the year.

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