Cryptocurrencies are now an effective and efficient medium for buying things in many parts of the world. With El Salvador legalizing crypto as a currency, Bitcoin has seen the most improvement in regular day-to-day transactions. Now Australian cryptocurrency users are gearing up for the festive season with cryptocurrency. Many of them revealed their plans of buying Christmas gifts using cryptocurrency to a recent survey. It goes on to show how far Bitcoin has come from its initial days. It became news when the first McDonald’s started accepting payment in Bitcoin in El Salvador. The fact that Australian crypto users wish to buy Christmas gifts with bitcoin and other cryptocurrencies shows that the chain of progress and adoption is continuing.
Crypto.com recently surveyed more than 2000 Australian crypto users. Of those surveyed, more than 25% talked about their plans of using cryptocurrency for Christmas. While many mentioned giving Bitcoins as Christmas gifts, others said talked about gifting crypto-related products or services. Among the gift items, crypto merchandise, crypto books, coin vouchers, and hardware wallets were the most talked about. However, most people plan on giving away some coin such as Bitcoin as a Christmas gift.
Crypto adoption rates in Australia are one of the highest in the world. However, regulators in Australia make it very difficult for crypto firms to conduct business. General awareness and pro-crypto trends will help these firms overcome challenges from authorities and run successful crypto businesses.