Bitcoin and Ethereum most popular cryptocurrency in Australia amid fall of myCryptoWallet exchange – Daily Mail

bitcoin-and-ethereum-most-popular-cryptocurrency-in-australia-amid-fall-of-mycryptowallet-exchange-–-daily-mail

The most popular crypto in Australia is REVEALED as the digital currency becomes ‘mainstream’ with 89 per cent of buyers claiming they have made money or broken even

  • More than 28 per cent of Australian own or have owned digital dollars according to the 2021 Independent Reserve Cryptocurrency Index
  • Bitcoin was the most well known and popular, ahead of Ethereum
  • About 89 per cent profited or broke even with more than 800,000 individuals transacting in it according to the Australian Taxation Office 

By Marion Rae For Australian Associated Press

Published: | Updated:

Cryptocurrency has gone ‘mainstream’ in Australia and more women are having a punt, according to a survey by a leading exchange.

More than a quarter (28.8 per cent) say they own or have owned cryptocurrency, the 2021 Independent Reserve Cryptocurrency Index (IRCI) released on Tuesday found.

The proportion of women dabbling in cryptocurrency doubled this year, from 10.3 per cent to 20 per cent.

Despite astounding volatility, most surveyed (89 per cent) have made money or broken even this year.

The findings come as Aussie exchange myCryptoWallet, run from Melbourne, was placed in liquidation, leaving more than 20,000 users high and dry.

Independent Reserve chief executive Adrian Przelozny said the sector desperately needed regulation to provide greater security for both investors and cryptocurrency businesses.

More than a quarter (28.8 per cent) own or have owned digital dollars according to the 2021 Independent Reserve Cryptocurrency Index (IRCI) released on Tuesday which found Bitcoin and Ethereum were the most popular

‘Our IRCI results this year support this, with 28.6 per cent of Australians who don’t currently own crypto telling us they would invest if there were better consumer protections in place,’ he said.

Now in its third year, the annual survey of over 2,000 people tracks awareness, adoption, trust and confidence in cryptocurrency.

Some 26.6 per cent said they would buy crypto if industry regulation was improved.

‘Although Australian regulators and government agencies may have taken a while to get their heads around cryptocurrencies and other digital assets, Australians themselves have sped ahead and we’re really seeing that in the past year, as an asset class, crypto has gone from the fringe to the mainstream,’ Mr Przelozny said.

According to the survey, Bitcoin remains the most well-known and popular cryptocurrency, ahead of Ethereum.

The 24- to 34-year-old age group was the most trusting of crypto, with 27.6 per cent saying they bought in to get rich, while people aged 65-plus remain sceptical.

The exchange myCryptoWallet, run from Melbourne, is being liquidated as  its tattooed founder Jaryd Koenigsmann (pictured) remains silent about allegations customers have been unable to access their funds

The latest Australian Taxation Office data shows there are more than 800,000 individuals transacting in cryptocurrency.

The collapse of myCryptoWallet took investors by surprise on Tuesday with its tattooed founder Jaryd Koenigsmann remaining silent about the company’s long-running dramas.

Traders complained of big losses, including a grandfather who said he had $40,000 with myCryptoWallet that he could not access. 

The company tweeted in April 2021 claiming it had resolved issues and ‘finalised any pending account issues’ – a statement immediately contradicted by frustrated traders. 

Another angry user claimed to have been returned $756, but was still owed $5,000. 

There is no suggestion Mr Koenigsmann is responsible for users’ missing funds. 

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