Top Cryptocurrency Statistics

• By the end of 2021, it is estimated that nearly 300 million people worldwide owned some kind of cryptocurrency (crypto.com).
• Crypto’s worldwide market capitalisation was estimated at $US1.09 trillion as of August 2023 (CoinMarketCap).
• As of February 2, 2024, Bitcoin makes up 48.6% of the total value of the crypto market (Coingecko).
• By 2030, the worldwide market is expected to grow by 12.5% in compound annual growth rate (CAGR) (Grand View Research).
• Estimates show the share of people who owned cryptocurrency in Australia in 2022 was 25.6% (statista)
• The leading cryptocurrency owned in Australia is Bitcoin (statista).
• A study by the Australian Securities Exchange (ASX) in 2023 revealed 29% of Australian investors are interested in buying cryptocurrency in the next 12 months (ASX).
• The study found that 15% of Australian investors currently hold crypto in 2023, with that number rising to 31% for investors aged between 18-24.
• The study also found that the median amount Australians invested in crypto was $5,100.
• Similarly, findings from a UK survey conducted by Forbes Advisor showed that those aged 18-34 are twice as likely to own a type of cryptocurrency than those aged 35-54.

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Crypto Exchanges

According to Statista, trading volume in the entire cryptocurrency market reached a peak of $US3 trillion on Nov 8, 2021. 

Cryptocurrency Awareness

According to a Forbes Advisor survey conducted in the UK, 90% of respondents had heard of Bitcoin making it the most well-known cryptocurrency. Other familiar coins included:

• Bitcoin – 90%
• Ethereum – 50%
• Dogecoin – 45%
• Binance Coin – 36%
• USD Coin – 27%
• Tether – 26%
• Solana – 21%
• Cardano – 18%

Legitimacy of Cryptocurrency 

According to a Forbes Advisor survey conducted in the UK:

• Almost 67% agree that cryptocurrency is a legitimate form of investment (either strongly or somewhat agreeing with this statement).
• Almost 17% neither agree nor disagree with that statement.
• Almost 17% disagree that cryptocurrency is a legitimate investment.

Meanwhile, 24% of those who invest in cryptocurrency say they trust it more than traditional investments, while, according to the FCA in the UK, some 60% of crypto holders said that they were happy to trade in the cryptocurrency market despite it being unregulated.

Why Do People Invest in Cryptocurrency?

According to the same Forbes Advisor survey, there are a range of reasons why people invest in cryptocurrency:

• It’s an easier way to start investing through an app (42%).
• It is easier to understand than conventional investments (34%).
• The investors believe in the message and mission statement behind cryptocurrency (30%).
• The investors have easier access to money when it is invested in cryptocurrency (27%).
• The investors saw their friend or family member’s investment performing well (26%).
• The investors trust it more than traditional investments (24%).
• The investor has made more money through crypto than through traditional investments (21%).

In Australia, Statista found that the leading reason for investing in cryptocurrency was for portfolio diversification.

These are the reasons people got into crypto investing in the first place:

• 55% said a friend or family recommended it.
• 23% said an influencer on social media get them into it.
• 20% said a finance professional told them it was a good idea.
• 15% heard about it through film, television, or other entertainment.
• 15% heard about it on the news.
• 10% got into crypto through a comparison website.

Why People Avoid Cryptocurrency

According to the UK Forbes Advisor survey, there are also a range of reasons why people have decided not to invest in cryptocurrency.

• 58% have stated that they do not trust it.
• 34% do not understand the technology.
• 21% believe that it performs badly as an investment.
• 14% don’t invest due to environmental concerns.
• 12% would like to begin investing in cryptocurrency, but are unsure where to start.
• 9% do not have the spare income to invest.
• 9% have seen a friend of family members investment perform poorly.

Crypto exchange app Luno conducted a survey that indicated 71% of Australians have less than a basic understanding of cryptocurrencies in 2023 (Luno).

Australian Investment in Cryptocurrency 

A study conducted by the ASX on Australian investors in 2023 found the following:

• Some 9% of Australian investors have bought or sold crypto in the last 12 months.
• Crypto makes up 11% of female investor portfolios on average.
• Crypto makes up 31% of next generation investor (aged 18-24) portfolios on average.
• Crypto makes up 12% of SMSF portfolios on average.
• Crypto makes up 15% of Australian investor portfolios across all demographics on average.

Profits Made or Lost Investing in Cryptocurrency 

The Forbes Advisor’s survey also asked investors how their crypto investments had performed in the last year:

• 57% made money from investing in cryptocurrency.
• 16% feel as if they have neither made nor lost money.
• 14% have lost money.
• Only 7% feel as if they made a lot of money.

Have the Crashes in Cryptocurrency Affected Investments?

In the UK, Forbes Advisor asked to what extent the recent cryptocurrency crashes have made people look at cryptocurrency in a more negative light:

• 58% agree that it has
• 28% neither agree nor disagree
• 13% disagree 

Despite this sentiment from UK respondents, 31% of Australian investors intend to buy crypto in the next year, according to the ASX 2023 investor study.

This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency or CFDs as an investment class.  Cryptocurrency is unregulated in Australia and your capital is at risk. Trading in contracts for difference (CFDs) is riskier than conventional share trading, not suitable for the majority of investors, and includes the potential for partial or total loss of capital. You should always consider whether you can afford to lose your money before deciding to trade in CFDs or cryptocurrency, and seek advice from an authorised financial advisor.

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