Nearly half of Aussies surveyed said they would “never invest” in the crypto market
A recent survey by consumer insights firm Toluna revealed 44 per cent of Australians surveyed would “never invest” in cryptocurrencies, and that Aussies also have the most bearish sentiment amongst those in the global survey.
The findings also showed that Australia’s neighbours in emerging markets in the Asia-Pacific region (APAC) are the most receptive, bullish, and trusting of crypto, starkly contrasting the attitudes of their more developed counterparts.
The survey from December 2021 included 9,000 people from age groups from 18 and over across 17 countries, 500 Australians were included in the survey, along with 500 each from Thailand, Philippines, Indonesia, Malaysia, and Vietnam.
Australian’s appear to be the most risk averse group when it comes to crypto, on average globally, 23 per cent said they trust crypto, but only 11 per cent of the developed APAC region did. Similarly, 51 per cent of respondents in the developed APAC region said crypto was a high risk investment, 18 per cent above the global average of 33 per cent, and 26 per cent said it was “just a hype” and “would crash soon”.
Age Is Also A Factor
Unsurprisingly, age was also a determining factor in the trust, adoption, and perception of cryptocurrencies, with older respondents being less trusting, using it less, or even not knowing about them at all.
“We found that the older one was, the more sceptical they were about crypto and regard it as a hype”, writes Toluna, “on the contrary, youngers were more positive about crypto staying in the long term”.
The study found among the 18-24 age group, 53 per cent believed the crypto market would be in an upward trend for the long term, conversely, 38 per cent of 57-64 year olds said the market would crash soon. Younger people were also more likely to own a crypto asset, at 42 per cent, compared to only 10 per cent for those over 56. Those in emerging markets were more likely to own crypto overall.