1 million more Australians will buy crypto in the next 12 months

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The annual Australian Cryptocurrency Survey is conducted by cryptocurrency exchange Swyftx.

Approx one million Australians will buy cryptocurrency first within next 12 months – bringing the total number of crypto holders in the country to more than five million — according to a newly released survey.

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Swyftx's annual Australian crypto survey, conducted by research firm YouGov.

The survey asked questions with 2.609 Australians over the age of 18 at the beginning of July, with 7 people identified as holding crypto.

The report claims that The current “Crypto Winter” has seen around 2 trillion dollars the asset was wiped off the digital market last year.

According to the report, Australia will have one million new crypto holders by 2023, while at least a quarter Australians are planning to buy crypto in the next 12 months.

According to the survey, the lack of reasonable regulations is the biggest hindrance to investing in cryptocurrencies, along with a lack of knowledge about how cryptocurrencies work and the overall volatility of the market.

Former chief risk officer at Credit Suisse CK Zheng, who believes the next crypto bull run will be the result of “regulatory clarity” in the United States.

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