A recent survey has revealed that in the next 12 months, a tremendous number of Australians will have entered the cryptocurrency market.
Survey Results Shared by YouGov
The survey was reportedly carried out by YouGov, which is a major research firm. The particular survey was carried out in collaboration with Swyftx, a major cryptocurrency exchange based in Australia.
According to the results from the Annual Australian Crypto Survey, almost 1 million people in Australia will have entered the cryptocurrency industry.
The survey results confirm that a particular number of people will have entered the industry in the next 12 months. This is the second annual survey carried out by YouGov in collaboration with Swyftx.
The survey confirms that the one million Australians projected to enter the cryptocurrency industry would invest in it for the first time.
Overall Investors to Rising to 5 Million
As of now, there are 4 million cryptocurrency investors in Australia that have invested in cryptocurrencies through a number of cryptocurrency exchanges and brokerages.
The survey results have revealed that in the next 12 months, the total number of cryptocurrency investors in Australia would rise to 5 million.
Australia’s current population is almost 25 million and with 5 million adults entering cryptocurrencies, this would mean the country’s 20% population is invested in cryptocurrencies.
The survey carried out by YouGov was among 2,609 participants from Australia. All of the participants were over the age of 18, and are considered independent, and were capable of making financial decisions.
The survey was carried out in early July and it was established that out of the total participants, 548 participants had already invested in cryptocurrencies.
The survey is quite significant for the entire crypto-verse as it shows that the interest of Australians in cryptocurrencies is uncompromised.
The crypto winter is now a fact confirming that the entire cryptocurrency industry is going through a hard time. This has seen a huge dip in the cryptocurrency industry and many investors from around the world have left the industry.
Despite the general market sentiments, Australians seem confident and determined to invest in cryptocurrencies. Although the crypto winter is still around, the year-over-year crypto adoption rate in the country has been 4%.
As for the year 2022, the crypto adoption rate in Australia was almost 21%.
Interests of Crypto Investors
The survey has also revealed that Australians are highly interested in investing money in major cryptocurrencies.
These cryptocurrencies include Bitcoin, XRP, Ether, Dogecoin, and Binance Coin (BNB). Although the crypto winter has taken its toll on all major cryptocurrencies, with the Australians not losing their faith, these assets will soon experience surges.