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The latest research into Australians’ investments shows that 5%, or over a million Australians aged 18+, now own at least one crypto. Leading cryptocurrencies include well-known Bitcoin and Ethereum and more niche names such as Cardano, Ripple, Shiba Inu, Dogecoin, Binance Coin, Solana, Cronos, Litecoin, and Polygon, and many more.
Interestingly, over two-thirds, or around 742,000 (69%), of Australian cryptocurrency investors, are men compared to only 332,000 (31%) women, which indicates a significant gender difference in investments in cryptocurrency.
Even though they are less likely to be crypto investors, older Australians aged 35 and older are still important parts of the cryptocurrency market in Australia due to the size of their average investments.
Australians aged 50+ have the largest average cryptocurrency investment at an average value of around $56,200. This average investment size means the value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion – higher than any other age group and over 35% of the total market.
On a global scale, Australians are crypto enthusiasts. It is more bullish on cryptocurrencies than most other countries around the world. One of the major reasons behind it might be the country’s government and regulators being seemingly open to crypto and blockchain industry growth.
The most popular cryptocurrency in Australia is bitcoin. Almost 9% of the population owns BTC, which has fallen from 13% since the beginning of the year. Bitcoin’s declining usage points toward the increasing investment in other cryptos like Ethereum, Cardano, dogecoin, and bitcoin cash.
If you are a fanatic and would like to buy bitcoin in Australia, there are some measures that you should take into consideration beforehand. As we already know, the crypto market is risky, and you can easily lose your capital if you don’t know what you’re doing. Therefore, before investing your money into bitcoin or any other crypto coin, make sure to get familiar with it and research the most affordable and trusted ways where you can get the coins.
List of the 5 most popular crypto coins in Australia:
- Bitcoin
- Ethereum
- Solana
- Cardano
- Litecoin
Bitcoin
Bitcoin is by far the most promising long-term crypto investment. In addition, it is the pioneer cryptocurrency originally designed to replace fiat currencies and has been adopted as a store of value against traditional investments. However, even with its massively volatile price action, it has won investor interest, as evidenced by the rising Bitcoin dominance.
Through its overall up-trending price action, Bitcoin has shown its resilience. Therefore it is the most valuable crypto and has also survived bans by the national governments and mounting criticism from the political class, banking industry, mainstream media, and environmentalists. Granted, some of these made it stumble, triggering highly volatile market crashes. But BTC always recovers, which is a testament to its resilience and reliability as a long-term investment.
Other factors that make Bitcoin a good long-term buy include addressing a real and urgent global inflation problem. As these developments evolve, Bitcoin’s value is expected to continue rising. As a result, some optimists are confident that BTC will break above $1 Million by 2030.
Ethereum
Ethereum was launched in 2015, and 7 years later, it has turned into the largest smart contract platform. In addition, it is also the largest DeFi platform and is home to most emerging crypto technologies.
Ethereum has turned into the internet of blockchains. This is enough for us to include it on our list of the top long-term investments for 2022.
At the moment, at the height of a contracting crypto market, Ethereum’s ROI exceeds 650000%. The platform has outperformed Bitcoin as one of the most used blockchain technologies. Over the next few years, crypto analysts are convinced that ETH will overtake Bitcoin as the most valuable cryptocurrency.
It will also be made possible by developing Ethereum protocols, including Layer 2 and sidechains. These will have the net effect of pumping up the demand for ETH tokens against a slowed-down supply. As a result, These will help ETH resume and surpass its all-time-high, further confirming why it is a good long-term crypto investment.
Ethereum is a choice of program developers because of its potential uses, like so-called smart contracts automatically running when conditions are met and non-fungible tokens.
Ethereum has also experienced remarkable growth. Thus, from April 2016 to the beginning of June 2022, its price pushed from about $11 to over $1,800, increasing by almost 16,300%.
Solana
Solana is the fastest-growing smart contract platform. Even though it has been around for two years, during this period, its popularity and user base swelled, developer activity on the network rocketed, and SOL token prices shot up by more than 13000 times. As a result, its market cap peaked above $78 Billion, and the Solana ecosystem grew exponentially. Moreover, it has not shown any signs of slowing down its mission of defeating Ethereum as the most useful and preferred smart contract platform.
Solana is on a mission to establish its blockchain’s sustainability and confirm its future. As a result, it allows developers to make and launch Web3 apps and programs, hosts dozens of decentralized exchanges and is home to several dApps and DeFi protocols.
When it launched in 2020, SOL’s price started at $0.77. By early June 2022, its price was around $40.58, a gain of more than 5,100%.
Cardano
Cardano is presently the largest smart contract platform and one of the fastest-growing blockchain technologies. But more importantly, Cardano is arguably one of the most secured blockchains, noticing that both the Cardano blockchain and integrated protocols are comprehensively researched and peer-reviewed. This level of security proves Cardano’s blockchain and confirms its sustainability, which is the main reason why we add it to the list of the best long-term crypto investments.
But the Cardano development team is looking to make their blockchain more than sustainable. They are looking to make it usable. To achieve this, Cardano is on a mission to integrate as many emerging technologies just like its competitors – Ethereum and Solana. It has already integrated smart contract technology, launched an algorithmic stable coin, and is working on integrating DeFi, dApps, and Web3 technologies.
Cardano has become among the most active crypto assets in the crypto world over the past year. Moreover, the price of the all-time high ADA coincided with the launch of the hard-fork Alonzo in early September 2021.
After hitting an all-time peak in September 2021 at USD3.03, Cardano’s price continued to decline, and there was a sideway in October around USD2. Then on November 10, 2021, the value of ADA decreased until it finally broke out.
Wallet Investors view Cardano as a solid short-term and long-term investment. They predicted that Cardano could reach USD3.10 within a year and USD10.46 after five years.
Litecoin
Litecoin is usually referred to as digital gold. Besides the fact that it shares many similar attributes with Bitcoin, Litecoin is one of the oldest crypto assets in the market that exists in the top 10 cryptos by market cap. And this alone gives Litecoin an awesome guarantee as an investment and excellent lasting power when it comes to the fast-paced crypto market.
Litecoin’s code is almost identical to Bitcoin, including both a fixed supply and an LTC block reward like Bitcoin. Also, like Bitcoin, the Litecoin network is powered by proof of work consensus.
Developer activity persists to be strong with Litecoin. It was among the first to incorporate segregated observers and is often a testbed for Bitcoin development.
Litecoin’s close relationship to Bitcoin and its digital absence makes it especially valuable. On-chain activity shows a healthy Litecoin network with over 100,000 active addresses and processing roughly 40,000 transactions every 24 hours.
Investing in Litecoin, like other cryptos, can be done either by mining or purchasing LTC online in a few simple clicks on a crypto trading platform or exchange. Once you have Litecoin, you can decide between the various ways to invest in crypto.
Conclusion
So, here is the list of the best 5 cryptos which are widely popular and consumed in Australia. Even though Bitcoin has gone through severe oscillations in price, it still managed to be the number one choice among Australians. Like Bitcoin, Ethereum and Solana are also widely popular and probably going to stay on the top tier list for a long time.