Who is buying all the crypto? Tradies are leading the way, among other industries that may surprise you.
The stereotype of crypto investors as tech bros and financial elites is apparently completely wrong. New data reveals that construction workers, hospitality staff, and healthcare professionals are actually leading Australia’s crypto revolution – and they’re using their gains to combat the rising cost of living.
The real face of crypto investing
Here’s something that might surprise you: 66% of crypto investors earn less than $80,000 per year. According to our research at CoinJar, the largest groups of crypto investors come from unexpected sectors:
-Construction workers (12.6%)
-Retail and hospitality workers (8.8%)
-Healthcare professionals (7.7%).
Meanwhile, traditional financial sector workers – including accountants and financial services professionals – make up just 5.8% of investors. This is despite Bitcoin’s meteoric 300% price rise over the past two years.
Crypto: The People’s Hedge Against Inflation
The research shows that everyday Australians aren’t just holding crypto – they’re actively using it. Transaction data from CoinJar’s crypto-enabled Mastercard reveals that investors are spending their crypto gains on:
-Dining out
-Travel
-Groceries
-Shopping
-Fuel.
In other words, crypto isn’t just about speculation anymore – it’s becoming a practical tool.
The Halving: Crypto’s next big catalyst
This shift in crypto demographics comes at a crucial time. On April 20, 2024, Bitcoin had its fourth “Halving” – an event that automatically cuts the creation of new Bitcoin in half. Historically, this has led to significant price increases across the crypto market.
“The 12 months after the Halving is typically when the biggest gains occur,” says Craig Cobb, Founder of The Grow Me Co. He points to real-world examples: “One of my clients secured a 26 times return on his investment and has paid for his wedding with crypto. He invested in the project in January and his wedding was in July.”
A new financial frontier
What makes the most recent Halving different is the recent launch of Bitcoin ETFs in America, which have opened the floodgates for institutional investment.
The data paints a clear picture: Crypto investing isn’t just for the wealthy or tech-savvy anymore.Â
It’s becoming a practical financial tool for everyday Australians looking to get ahead in challenging economic times. The question isn’t just about potential returns – it’s about who stands to benefit most from crypto’s next chapter.
Sources: CoinJar customer data analysis of 15,000 investors and 20,000 CoinJar Card users.
UK residents: Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more:Â
www.coinjar.com/uk/risk-summary.
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