Finder’s Cryptocurrency Adoption Index measures the growth of cryptocurrencies worldwide through an ongoing survey of internet users in 26 countries.
The November 2022 update will be the final update of this series.
Key Aussie crypto adoption trends for November 2022 report
Aussie crypto ownership
3.3M Aussies own crypto.
Gender split
Aussie men are 1.4x more likely than women to own crypto.
Men 59%
Women 41%
Most owned crypto
59% of crypto owners have ₿itcoin.
Cryptocurrency adoption statistics in Australia
Australia ranks 9th out of 26 countries for crypto adoption, according to Finder’s Crypto Adoption November 2022 report, which has so far surveyed 389,345 people in 26 selected countries (7,552 in Australia since April 2022).
The crypto ownership rate in Australia is 17%, which is higher than the global average of 15%. India leads the way at 29%, with Germany at the other end of the spectrum with 6%.
Globally, ownership sits at 15% for the November 2022 report, following 14% in the previous report.
As it stands, roughly 10% of those surveyed in Australia say they own Bitcoin (BTC), with 8% saying they own Ethereum (ETH), 3% own Dogecoin (DOGE) and 3% own Cardano (ADA).
Popular cryptocurrencies in Australia
Out of the coins looked at for the survey, Bitcoin (BTC) is the most popular cryptocurrency with crypto owners in Australia followed by Ethereum (ETH) and Dogecoin (DOGE).
Bitcoin adoption in Australia
In the November 2022 report, roughly 59% of crypto owners in Australia said they own Bitcoin. This is above the global average, which sits at 36%.
Australia sits atop the table, with 59% of crypto owners holding BTC. At the other end is Mexico, where roughly 23% of crypto owners say they own Bitcoin.
Ethereum's popularity with crypto owners in Australia
Ethereum (ETH) sits in the wallets of roughly 46% of crypto owners in Australia — above the global average (24%). Crypto owners in Australia are most likely to have ETH in their wallet (46%) and crypto owners in Venezuela have the lowest ownership (12%).
Dogecoin ownership
Ownership of Dogecoin (DOGE) in Australia sits above the global average of 19%, with roughly 21% Aussies who own crypto holding the asset. United States leads the way for DOGE at 24%, whereas just 12% of crypto owners in Venezuela say they own the memecoin.
Cardano adoption
Adoption of Cardano sits at approximately 18% of crypto owners following the November 2022 report, which is below the global average of 18%. Cardano is most popular with crypto owners in Hong Kong (26%), whereas just 11% of crypto owners in Nigeria say they hold ADA.
Men in Australia more likely than women to own crypto
Of those in Australia who own crypto, 59% are men and 41% are women.
There is a wide gap in adoption of crypto between men and women. Of those who own crypto, an average of 37% are women compared to 63% who are men. United Kingdom actually has the widest gap, with 75% of people that own crypto being men. Vietnam is the closest between the sexes (crypto ownership being 53% men, compared to 47% women).
Age trends for crypto ownership in Australia
Those aged 18-34 in Australia lead the way in terms of the crypto split, making up 53% of crypto owners. Those aged 55+ are the group least likely to own crypto, making up just 8% of crypto owners.
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Methodology
Finder regularly survey individuals across 26 countries to analyze cryptocurrency adoption rates, investment diversification and the demographics of investors.
Beginning in April 2022, Finder switched its method to a three-month rolling average. The July 2022 report will be the first to present data using the three-month rolling average, which is made up of responses gathered between April and June 2022. The August report will display May through July 2022 and so forth. So far the survey using the new method has garnered 389,345 responses.
The survey is designed by Finder and conducted by Google in all territories except for the first run in Australia, where the survey is conducted by Qualtrics/SAP.
Participants are internet, smartphone and Google AdMob users or Qualtrics research panel participants. Sample sizes range from 1,000 to 2,500 people and are directly proportional to population size. Participating countries are selected based on global Finder site traffic and availability on research platforms.
Survey results are analyzed using Google's Data Studio, which provides weighted averages for the top-level responses, along with breakdowns for sex and age.
Richard Laycock is Finder’s insights editor after spending the last five years writing and editing articles about insurance. His musings can be found across the web including on MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 Certification in General Advice for Life Insurance.
Every three months, Finder empanels a range of industry specialists to get a pulse on what the future holds for crypto. This is a summary of those findings.
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