Average Aussie crypto portfolio grew 258% in FY 20-21, survey reveals

The older generation of Australian crypto investors is more active in daily trading than the younger ones. However, they outnumber the newer generation when it comes to initial investment. According to data from Statista, the average portfolio size for Australian cryptocurrency exchange BTC Markets grew from $577.65 (795.5 Australian Dollars) to $2.069.16 (2849.5AUD) in the fiscal year 2021. This represents a 258.2% rise in portfolio holdings. In 2020, however, the average portfolio size for female Aussie investors was slightly larger than that of male investors. The exchange’s transaction data also showed that there was a growing demand for investment with the aging process. Considering the data provided by BTC Market on Australia’s average initial investment, investors above 65 years old have invested roughly $3,158.03, the highest ofall demographics.Following an incremental reduction across the various age groups, the youngest cryptocurrency traders, ranging from 18 to 24 years, tend to make comparatively small investments, standing at $792.96 on average. The older generation of Australian crypto investors is more successful than the newer generation, but the younger crowd has a greater number of daily trades. A September report by financial comparison website Finder found that one in six Australians have cryptocurrencies, with an investment totaling $8 billion. According to the report, Australians are increasingly looking at cryptocurrencies as an asset class, just like other users in advanced industrialized nations. According to Cointelegraph’s report, Bitcoin (BTC), which is held by 9% percent of Australian investors, is the most popular cryptocurrency in the Australian crypto market. Ether (ETH), Dogecoin(DOGE), and Bitcoin Cash (BCH) are other popular investments. The report revealed that, despite the rise in crypto investments, the biggest barrier to entry for Australians was the difficulty in understanding crypto and the volatility risks.

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