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Bitcoin Adoption Continues To Grow In Australia Pushed By Binance And Other Firms

ยท in Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The cryptocurrency market in Australia is expanding thanks to a wide range of companies that are betting on the growth of the crypto space in the country. At the same time, the usage of Bitcoin is growing despite its price performance during the last months.

Bitcoin Expands In Australia

Cryptocurrency users in Australia are helping Bitcoin expand in the country. There are different companies that are settling their operations in the country and that are trying to offer crypto-related services to users. This includes the casino and gambling industries that have also been revolutionized by Bitcoin’s creation and expansion.

For example, an Australian Bitcoin Casino would help the whole ecosystem increase Bitcoin use cases. As UseTheBitcoin reported in the past, casinos can offer improved solutions and products to users by implementing Bitcoin to their platforms. The benefits are very large for these companies that can certainly improve their performance.

Binance Expands In Australia

Binance, the leading and popular cryptocurrency exchange is moving forward with its expansion plans. Some reports show that Changpeng Zhao, the CEO and co-founder of Binance, informed that the firm was looking for an Australian branch.

Although there is no official date to launch this new platform, Binance is working and analysing the Australian market to be able to offer solutions to Australian users.

On the matter, Changpeng Zhao said:

“We are looking at different options to turn on Binace Australia, it may not be this year so hopefully early next year sometime we will turn it on.”

Binance has been trying to add new currencies to its platform and offer compliant solutions in a wide range of markets all over the world.

Australians Adopt Cryptocurrencies

As reported by the Independent Reserve Cryptocurrency Index (IRCI), 17% of Australians own cryptocurrencies. The main goal behind this index is to have a better idea of how Aussies are related to the cryptocurrency market.

In general, millennials are those more attracted to cryptocurrencies due to their connection with the internet and technology. At the same time, the survey showed that one in five Australians could purchase cryptocurrencies in the coming half a year. If the crypto market starts growing, new investors could easily enter the market in the country.

Furthermore, the IRCI established that Australians have a level of understanding, trust and confidence in the cryptocurrency market of 42 points over 100. As per Adrian Przelozny, the CEO of IRCI, this indicates optimism and maturation in the space.

Currently, Bitcoin has a price of $7,150 and a market capitalization of $129 billion.

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