Many Aussies would use cryptocurrency if it was made legal tender
Close to half of all Aussies would use cryptocurrency if it was made legal tender - even though only 11 per cent know what the term means Survey in a Saxo Markets report found 42 per cent would use cryptocurrency However, only 11 per cent of Australians know what the term 'crypto' means Bitcoin and Ethereum are the best-known varieties of the currency Down Under
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Many Australians would use cryptocurrency if it was made legal tender but most don't understand what "crypto" means, a survey shows.
Some 42 per cent of Australians would use cryptocurrencies alongside mainstream money, according to the Saxo Markets report released on Thursday.
Bitcoin (38 per cent) and Ethereum (12 per cent) were the two most well-known cryptocurrencies in Australia, followed by Dogecoin (eight per cent).
Just five per cent had heard of current market darling Shiba Inu.
But only 11 per cent of people surveyed thought they understood what the term "crypto" means.
The rate of understanding was four times higher amongst 25- to 34-year-olds compared to those aged over 65, and more than half of the
