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Survey finds, all Australia wants for Christmas this year, is crypto

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Source: Unsplash

As the holiday season quickly approaches, the urge to give creative and inspiring gifts grows stronger than ever. After all, there are several typical gifts people have come to expect come Christmas: mugs, socks, neckties, and gift cards for example. While it’s certainly the thought that counts, do these really excite anyone?

Aussies want cryptocurrency for Christmas

Australians want to have a very merry “crypto-giving” Christmas this year. Crypto.com published a survey report on Australian consumers finding as 2021 draws to a close. As per this finding, many in the region are adopting crypto into their lives.

More than 2000 people, aged 18–59 were surveyed. Around 65% believe crypto has alternative uses other than being an investment. Of those that had used crypto over the past 12 months, 26% responded that they would consider giving some away for Christmas or buying crypto-related gifts.

Meanwhile, more than half (53%) of those planning to buy crypto gifts, said they would consider purchasing crypto assets. These mainly included Bitcoin and the largest altcoin, Ethereum. Other than this, crypto merchandise such as themed socks or hoodies, and NFTs saw an impressive demand as per the aforementioned survey. Overall, the headlining insight looked like this:

Source: Crypto.com

In addition to this, over a third of the participants (37.7%) preferred to buy crypto through an exchange (37.7%) or an app (36.2%). 

Source: Crypto.com

Nonetheless, given the speculations and scams, security still remains the top priority before choosing a platform as Australians are security and cost-conscious.

“8 in 10 said security is an important factor when choosing a platform to trade on, even before low fees (78%)”

The tweet(s)  below highlights the same.

Overall, the country is witnessing an impressive surge in interest, in digital assets. Of late, one of the largest banks in Australia (CBA) took a step further, to dwell deep in the crypto world. Others plan to follow this, although nobody has given confirmations as of yet.

In other news, just recently, Rest Super became the first superannuation fund to invest in cryptocurrencies. Apart from this, Australian Senators have reiterated a similar interest. Of late, Liberal Party Senator Jane Hume echoed her support for DeFi at a summit.

Nonetheless, government officials continue to adopt a skeptical view. For instance, H&R Block director of tax communications Mark Chapman raised caution, urging crypto-investors to take care when gifting Bitcoin, Ethereum, Dogecoin, or other cryptocurrencies.

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Shubham is a full-time journalist at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.