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Kiwis Flock To Crypto, NFTs Despite Risk Appetite Wanes – Survey

Adoption

Bitcoin

Investing

NFT Non-fungible tokens Survey

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Jaroslaw Adamowski

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Jaroslaw Adamowski

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Last updated:

June 26, 2023

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New Zealand’s investors are increasingly considering investing in cryptoassets and non-fungible tokens (NFTs), with 19% of respondents “actively exploring” them as new investment options among other alternatives, according to a recent survey carried out by the Financial Services Council, an industry association that represents the interests of the country’s financial services sector.

Also, the report which summarizes the findings of the survey, under which answers were collected from some 2,000 New Zealanders this past April, indicates that 9.5% of Kiwis who took part in the poll currently hold cryptoassets, compared with 3% in March 2020, while 1.6% said they own NFTs.

Also, investments in cryptoassets saw the strongest growth, compared to the survey last year, despite the risk appetite of New Zealanders has generally lessened, per the survey. “Since the Covid pandemic, younger generations are more likely to have their risk appetite affected, while older generations are less likely to change how they choose their investments,” they added.

Among all of the population segments, persons aged 40 to 49 were the most likely to own crypto, at almost 15%, followed by those aged 18 to 29, at 13.5%, as shown by data from the council. For NFTs, the asset is most popular among respondents aged 40 to 49, at 3%, followed by 50 to 59 year-olds, at 2%.

“Over the past eighteen months we’ve seen the incredible rise of the digital investor, and our research has revealed that 38.2% of adult New Zealanders currently use, or plan to use, micro-investing platforms. That is about 1.5 million Kiwis and reflects a transformational shift in how we are choosing to invest our money,” Richard Klipin, CEO of the FSC, commented on the survey’s results.

Meanwhile, over 30% of the respondents currently use or plan to use “digital currency platforms,” per the survey.