Over 1 million Australians now own Cryptocurrencies such as Bitcoin, Ethereum, Ripple, Cardano, Dogecoin and Shiba Inu

Curiously over two-thirds, or round 742,000 (69%), of Australian cryptocurrency buyers are males in comparison with solely 332,000 (31%) who’re girls indicating there’s a vital gender distinction on investments in cryptocurrency.

Nearly all of cryptocurrency buyers are underneath 35

Analysing cryptocurrency buyers by age reveals folks aged underneath 35 are more than likely to be holders of cryptocurrencies with over one-in-ten folks on this age group investing in cryptocurrency. Of all ‘crypto’ buyers 391,000 (36% of all buyers) are aged 25-34 and 248,000 (23%) are aged 18-24.

Australians aged 35+ are much less more likely to be invested in cryptocurrency however nonetheless comprise over 40% of the overall investor market together with 296,000 aged 35-49 (28% of all buyers) and 138,000 aged 50+ (13%).

Cryptocurrency buyers by Gender & Age: February 2022

Supply: Roy Morgan Single Supply, December 2021 – February 2022, n=15,989. Base: Australians 18+.

Older Australians aged 50+ have the largest common cryptocurrency investments

Though they’re much less more likely to be cryptocurrency buyers, older Australians aged 35 and older are nonetheless vital components of the cryptocurrency market in Australia as a result of dimension of their common investments.

Australians aged 50+ have the biggest common cryptocurrency funding at a mean 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 – larger than every other age group and over 35% of the overall market.

In distinction, though they’re more than likely to be buyers out there, Australians aged 18-24 have a mean cryptocurrency funding of solely $2,600 which means the overall worth of all cryptocurrency investments for this age group is barely $630 million – about 3% of Australians whole 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 larger at $21,600.

As a result of they’re extra more likely to be buyers 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 males’s common cryptocurrency funding of $23,400 is almost twice as excessive as the common funding for ladies of $12,800. This huge distinction means males maintain whole cryptocurrency investments of $17.4 billion (81% of the market) in comparison with solely $4.2 billion (19%) for ladies.

Whole worth of Cryptocurrency investments by Gender & Age: February 2022

Supply: Roy Morgan Single Supply, December 2021 – February 2022, n=15,989. Base: Australians 18+.

Michele Levine – CEO, Roy Morgan Analysis, says cryptocurrencies have been within the information closely in the previous couple of years as Australians search for different funding alternatives throughout a time of accelerating upheaval in worldwide markets:

“The previous couple of years have seen an enormous enhance within the variety of Australians who are actually invested into numerous cryptocurrencies. Essentially the most well-known cryptocurrency is after all Bitcoin which has a complete market capitalisation of over $830 billion USD – greater than twice as massive because the second largest Ethereum with a market capitalisation of round $400 billion USD.

“The newest analysis into Australia’s cryptocurrency buyers reveals over 1 million Australians aged 18+ now have an funding in cryptocurrency – at a mean worth of simply over $20,000.

“Unsurprisingly youthful Australians usually tend to be invested within the cryptocurrency market with round 12% of individuals aged 18-24 and 11% of these aged 25-34 proudly owning cryptocurrency in comparison with solely 6% of individuals aged 35-49 and round 2% of these aged 50+.

“This breakdown of the market means round 640,000 cryptocurrency buyers, nearly 60% of the market, are aged underneath 35 in comparison with 430,000 aged 35+ (40% of the market). Nevertheless, these figures cover a shocking actuality – older buyers make investments far extra money on common than youthful buyers and almost two-thirds of the market by whole worth is held by these aged 35+.

“Cryptocurrency buyers aged 50+ have a mean funding of round $56,200 in comparison with solely $2,600 for these aged 18-24. This implies older Australians aged 50+ maintain whole cryptocurrency investments valued at $7.6 Billion AUD – greater than 12 occasions as a lot because the $630 Million AUD held by these aged 18-24.

“There’s an extra $7 Billion AUD held by these aged 25 -34 (common funding of $18,200) and $6.4 Billion AUD held by folks aged 35-49 (common funding of $21,600).

“There’s additionally one thing else in regards to the cryptocurrency market that aligns with the notion of ‘nerds on computer systems’ – it’s that Australia’s cryptocurrency market is closely male dominated. Over two-thirds of Australian cryptocurrency buyers, 742,000 (69%) are males in comparison with solely 332,000 (31%) which can be girls.

“The common dimension of males’s investments, $23,400, is sort of twice as excessive as the common funding for ladies of $12,800 which means males maintain over 80% of Australia’s ‘crypto’ investments by worth at $17.4 billion AUD in comparison with solely $4.2 billion (19%) for ladies.

“Investing in cryptocurrencies is a novelty for a lot of Australians and as our newest analysis reveals solely round 1-in-20 Australians presently maintain a cryptocurrency funding. This small penetration of cryptocurrency buyers reveals there’s nonetheless the potential for big progress out there over the following few years as extra Australians turn into uncovered to this type of investing.”