Shiba Inu Ranks Higher Than XRP and Cardano Among Australia’s Best Known Cryptocurrencies
According to a recent survey published by Saxo Markets, Shiba Inu is more popular with Australians than XRP and Cardano.
Five percent of Australians know the same coin, while 3% and 2% of them have heard of the other two cryptocurrencies, respectively.
Unsurprisingly, Bitcoin tops the list, with 38% of survey respondents recognizing the king of crypto. Ethereum, Binance Coin and Dogecoin also feature in the top five, ahead of Shiba Inu.
Only a tiny 1% of Australians have any idea what Avalanche really is.
Notably, Shiba Inu is much more recognizable among millennials than baby boomers (7% and 1%, respectively).
The canine token stole the show earlier this year due to its remarkable price performance that blew up all other cryptocurrencies.
The coin craze is of course not limited to Australia. In May, Harris Poll’s survey found Dogecoin to be more popular than Ethereum with U.S. investors.
Crypto as legal tender
Only 11% of Australians say they “fully” understand what cryptocurrency is. However, 42% of those polled say they would use cryptocurrencies if they were to be legal tender in the country. The majority of them would use crypto to save or make purchases with it (34% and 23%, respectively).
Twenty-five percent of Australians agree that crypto should be recognized as the official currency in the country.
El Salvador took a step forward in making Bitcoin legal this year, but others have yet to follow suit.
As reported by U.Today, Treasurer Josh Frydenberg has announced a plan to overhaul the existing payments system in Australia so as not to fall behind in Silicon Valley. The Australian government will assess the creation of a central bank digital currency while working on a regulatory framework for cryptocurrencies.
