Bitcoin is the most popular cryptocurrency in Australia, according to a report.

According to a newly released research, the number of crypto investors in Australia has increased by 10 percent this year to 28.8%, up from 18.4% last year. The Independent Reserve’s Cryptocurrency Index for 2021 is the title of this paper (IRCI). Based on the responses of nearly 2,000 people who took part in the poll, the results also show that Bitcoin is the most popular crypto asset.

According to research released on Tuesday, December 7, the good experience that existing members of the crypto community have had is driving the rising popularity of investing in crypto assets among Australians.

This year, 89 percent of Australians admit having gained money with crypto assets, up from 78 percent in 2020.

According to a report by CoinTelegraph, Independent Reserve CEO Adrian Przelozny said, “I believe it’s very natural that more and more individuals are interested in an asset class that’s obviously outperforming the rest of the market.”

The IRCI survey found that 47.5 percent of Australian crypto investors are inspired by their friends and family who are experimenting with the industry.

The 24-34 age group is the most passionate about giving crypto a fair shot.

The crypto market’s volatility is one of the key reasons why many Australians are still hesitant to enter the field.

“I believe that over time, the volatility and perceived risk of this investment will decrease,” Przelozny stated.

While 89.1% of Australians have heard of Bitcoin, only 21.1 percent have it.

Jane Hume, Australia’s Digital Economy Minister, certified the crypto sector in October, claiming that the broader crypto field is not a “fad” and urging the government to be receptive to emerging digital advances.

Recently, the CEO of Australia’s largest bank, Commonwealth Firm, warned that failing to enter the digital asset business early will result in greater dangers, and the bank has formed relationships with prominent crypto companies.

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