The average portfolio size on Australian cryptocurrency exchange BTC Markets increased from $ 577.65 (AU $ 795.5) to $ 2,069.16 (AUD 2,849.5) in fiscal year 2021, reporting a 258.2% increase in portfolio holdings, according to exchange data compiled by Statista on a recent BTC Markets Survey.
Survey data shows that the average portfolio size of female and male investors in FY 20-21 in BTC markets was $ 1,924.30 (AUD 2,650) and $ 2,214.03 (AUD 3,049), respectively. However, in 2020 the average portfolio size of Australian female investors slightly exceeded male investors.
Trading data on the stock exchange also showed a trend of increasing investment demand with aging. Based on data provided by BTC Market on Australia’s average initial investment, investors over 65 invested around $ 3,158.03, the highest of any demographics.
After a gradual reduction in different age groups, the youngest cryptocurrency traders, aged 18-24, tend to make relatively small investments, averaging $ 792.96. While the older Australian crypto investors outweigh the new generation in terms of initial investment, the younger population shows comparatively more activity in terms of daily transactions.
Related: 17% of Australians now own crypto, totaling $ 8 billion between them: Survey
Echoing the above findings, a September report from the financial comparison website Finder shows that one in six Australians own cryptocurrencies, representing a total investment of $ 8 billion. The report suggests that, like many other users in advanced industrialized countries, Australians increasingly viewed cryptocurrencies as a new asset class.
According to TUSEN’s report on the matter, Bitcoin (BTC) is the most popular cryptocurrency for the Australian crypto market owned by 9% of investors. Other popular investments include Ether (ETH), Dogecoin (DOGE), and Bitcoin Cash (BCH). The report showed that, despite the growth in crypto investments, a significant barrier to entry for Australians is the difficulty in understanding crypto and the risks associated with volatility.