Kiwi Crypto Investors More Financially Confident Than Non-crypto Investors, New Research Finds

Half of crypto investors in New Zealand are confident in making their own financial investment decisions, compared to 38% of non-crypto investors, new research reveals.

The research, commissioned by Binance New Zealand, was conducted by Clarity Insight in September, a year after the global cryptocurrency exchange launched in New Zealand.

The survey of 745 Kiwis and 807 Australians also found that crypto investors view themselves as generally more financially stable and less risk averse than non-crypto investors.

Over half (55%) of New Zealand crypto investors view themselves as financially stable or thriving, compared to 50% of non-crypto investors, and 57% of crypto investors find it easy to manage their personal finances, compared to 53% of non-crypto investors.

Perhaps unsurprisingly, the Kiwi crypto investors surveyed are more aggressive and high risk (25%) in their investment approach compared with non-crypto investors (19%). A pattern also seen across the ditch with 17% of Aussie crypto investors’ investment approaches being aggressive and high risk compared to only 5% of non-crypto investors surveyed.

Ben Rose, Binance, General Manager, Australia, New Zealand, and the Pacific Islands says it makes sense that Kiwi crypto investors are likely to be more sophisticated investors.

“There are some negative stereotypes out there about crypto users, but I’m not surprised that they’d view themselves as more confident making financial decisions. You’d expect those that are financially savvy to be more comfortable diversifying their portfolio with newer investment options if they see the value there,” said Rose.

In both New Zealand and Australia, one in five of the crypto investors surveyed also have a traditional investment fund under management. Almost one in five New Zealand crypto users surveyed (17%) have $100,000 or more in overall investments, with this number jumping to 35% in Australia.

The survey showed that the market outlook in Australia is much more bullish than here in Aotearoa with 45% of Australian crypto investors feeling bullish about crypto (and 34% neutral) compared to about a quarter (23%) of Kiwi investors feeling bullish and (42% neutral).

“We surveyed respondents in September when market sentiments generally remained bearish and most crypto investors were buying and holding for the long term rather than speculating on different assets or actively trading. Bitcoin has now gone up 100% year-to-date amidst the recent market surge, and investors will be interested to capture volatility,” said Rose.

The survey also showed that awareness of cryptocurrency is high among non-users in both New Zealand and Australia – at 93% and 86% respectively – but knowledge of crypto is limited, particularly for non-users.

“Australia is further along than New Zealand in terms of crypto investors but we will eventually join the rest of the world when it comes to adoption,” said Rose.

Rose is concerned that negative sentiment and a lack of education may exacerbate financial inequities apparent in both markets.

“We feel that wealthier, more confident investors are more likely to embrace new investment opportunities. Those Kiwis and Aussies are participating in a global digital assets market that’s now valued at over $US 1 trillion and growing.

“That’s why we invest in initiatives like Binance Academy with free resources for anyone interested in Web3, blockchain or crypto.

“We’re also doing a university tour here and in Australia. We’ve recently presented at Canterbury University and look forward to heading to universities in Auckland next year to introduce young people to the basics of blockchain technology,” adds Rose.

About Binance

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial service suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralisation and infrastructure solutions, and more. For more information, visit: https://www.binance.com

About Binance NZ

Binance New Zealand is a leading digital currency exchange platform that enables Kiwi customers to easily buy and trade cryptocurrencies with New Zealand Dollar (NZD). Binance New Zealand offers users deep liquidity and convenient deposit and withdrawal methods while leveraging cutting-edge technology from Binance.com's advanced trading platform.

© Scoop Media