There’s additionally a divide between the sexes.
Round 21 per cent of Australian males declare to have a deal with on what cryptocurrencies are and the way they work, the survey discovered, in comparison with simply seven per cent of ladies
Bitcoin was simply probably the most well-known of all of the cryptocurrencies (there are greater than 10,000), with 38 per cent of Australians surveyed recognising the identify which is synonymous with digital currencies.
The following most recognised cryptocurrencies have been Ethereum, hitting residence with 12 per cent of Australians surveyed, and Dogecoin on 8 per cent.
And though non-fungible tokens — or NFTs — rocketed to prominence in 2021, 75 per cent of Australians have nonetheless by no means heard of them.
Final week, Federal Treasurer Josh Frydenberg estimated greater than 800,000 Australians have owned cryptocurrency at the very least as soon as.
Forty-two per cent of Australians surveyed mentioned they’d use a cryptocurrency if it was made authorized tender tomorrow, however just one in 4 agreed that cryptos must be declared authorized by the federal government.
If cryptos have been in authorized circulation, one in three Aussies mentioned they’d use it by placing it of their financial savings or a retirement plan.
Foreshadowing a regulatory framework was now wanted for cryptocurrencies and its related industries, Mr Frydenberg acknowledged a “digital revolution” triggered by Bitcoin was now effectively underway in Australia’s monetary sector.
An NFT is a digital token encrypted with the artist’s signature on the blockchain — a digital ledger that’s the spine of cryptocurrencies like Bitcoin and Ethereum — permitting sellers and consumers to confirm authenticity and possession.
NFTs guarantee a purchaser has the true unique immediately from the artist.
Additionally they enable artists to promote works on to consumers on their very own, which some have asserted will democratise the artwork market.