Crypto use surges among Aussies aged 45 to 59

April 07 2022
Share

Aussies aged 45 to 59 are taking to crypto in record numbers.

With a wealth of experience in traditional markets, Australia’s mature wealth accumulators aged 45 to 59 are increasingly turning to crypto based on strategic research and information, new research has shown.

BTC Markets latest Investor Study Report analysed the cryptocurrency investment behaviours of its 325,000 clients, revealing some interesting findings.

While previously considered an asset for millennials due to the risk appetite of this age group, according to BTCM, slightly older Australians are now increasingly seeing value in crypto.

"They bring a wealth of experience in traditional investment markets and their decision to invest in crypto is not driven by the fear of missing out (FOMO) but on strategic research and information,” said BTC Markets CEO Caroline Bowler.

In fact, the number of people aged 45 to 59 that picked up crypto investing in 2021 increased by 79 per cent.

Interestingly, despite a rush of retail investors taking to crypto during the pandemic, average portfolio sizes continued to remain highest for the 60-plus-year-old demographic.

According to Ms Bowler, this is due to a couple of factors.

“This age group has larger investment portfolios resulting from higher disposable income, and they are comfortable with leaving cryptocurrency on our exchange, rather than removing assets to self-custody. Both these factors decline with age,” Ms Bowler explained.

Another interesting change BTCM observed from its last report is that these older investors are also coming in with higher average initial deposits compared to other age groups, as they recognise the utility of crypto as an alternative asset class.

Moreover, BTCM data revealed the continued flattening of gender lines with the ongoing rise of the ‘Crypto Queens’.

Female investors on the platform grew much faster than their male counterparts (126 per cent vs. 83 per cent) and their average initial deposits on the platform were higher ($2218 vs $1978 for males), suggesting that while women took longer, doing more research, they invested larger amounts.

About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

Most read

Age Pension increase prompts Australians to review their finances

Latest Podcast

Australia’s credit pivot: Mortgage enquiries hit a three‑year peak as households ...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Invest