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New survey reveals high crypto adoption in Australia amid housing affordability concerns
Invest
New survey reveals high crypto adoption in Australia amid housing affordability concerns
A new survey by Protocol Theory, in partnership with cryptocurrency exchange Easy Crypto, has found that nearly 50% of Australians have bought or are considering buying cryptocurrency in the next year. This high adoption rate comes as many Australians seek alternative investment options to home ownership.
New survey reveals high crypto adoption in Australia amid housing affordability concerns
A new survey by Protocol Theory, in partnership with cryptocurrency exchange Easy Crypto, has found that nearly 50% of Australians have bought or are considering buying cryptocurrency in the next year. This high adoption rate comes as many Australians seek alternative investment options to home ownership.
Key findings from the survey of 1,000 Australian adults include:
- Almost 1 in 3 Australian adults currently own, have previously owned, or are actively considering buying crypto for the first time.
- Australia's crypto adoption rate far exceeds the global average of 6.8%.
- 42% of investors feel crypto gives them hope for the future, despite 68% believing the future will be more difficult.
- 40% of Australian investors believe crypto facilitates their financial freedom.
- 64% said they could afford to invest small amounts in crypto, compared to only 22% who viewed real estate as accessible.
Janine Grainger, CEO and co-founder of Easy Crypto, said: "For many Australians, the dream of home ownership is at odds with their current economic reality. At the same time, crypto is seen as more mainstream - including by institutional investors -- and our mission is to leave no one behind."
The survey also revealed:
- Rising discontent with traditional financial systems, with 1 in 3 investors attracted to crypto because it reduces profits for banks and other companies.
- A perception among younger investors that crypto enables greater equality compared to property investment.
- More than 50% of crypto investors stay invested despite market volatility.
However, the survey also highlighted barriers to wider adoption, including the need for better education and more user-friendly platforms. 70% of Australians said much of the available information about crypto is difficult to understand.
Grainger emphasized the need for the crypto industry to improve engagement with both existing and future investors, calling for products that address volatility and complexity, such as user-friendly wallets suited for beginners.
The survey suggests that as housing affordability remains a challenge, particularly for younger generations, cryptocurrency is increasingly seen as a more accessible alternative for building wealth and financial freedom.
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