The devaluation of the New Zealand dollar sparked interest in buying cryptocurrency.

The devaluation of the New Zealand dollar sparked interest in buying cryptocurrency.
The devaluation of the New Zealand dollar sparked interest in buying cryptocurrency.

The age of investors in cryptocurrency ranges from 8 to 83 years in New Zealand.

In New Zealand, there has been a growing interest in cryptocurrencies at the background of a noticeable decline in the value of the local currency, which has fallen in price to the lowest level over the past two years – to 65.8 US cents for one New Zealand dollar. Over the past six months, the New Zealand dollar has lost 12% of its value to the US dollar, also falling to the Canadian dollar, Japanese yen, euro and the Swiss franc. The possible reduction in the central bank’s key rate may further accelerate the devaluation of the New Zealand dollar.

Such disappointing information was pushed by the most active part of New Zealand’s population – young people – into cryptocurrencies: 32% of all those who buy cryptocurrencies in this island country are from 25 to 34 years old, according to research conducted by the trading platform CryptoSaver.

At the same time, residents of the country aged 35-44 years are also active in buying cryptocurrencies: they account for 27% of all such investors. In addition, people over the age of 45 are more likely to acquire cryptocurrencies than New Zealanders aged 18 to 24, who account for only 9% of all investors in crypto. The youngest investor at the age of 8 years became the owner of the cryptocurrency through his legal representatives – parents.

At the same time, in a study that covered 5 thousand people, there were two New Zealanders who at the age of 83 years are active users of cryptocurrencies. If we talk about who spends most of their personal savings on cryptocurrencies, then the first place belongs to investors aged 45 to 54 who spend 25% more on these purposes than, for example, the generation from the age of 25 to 34 years. New Zealanders aged 55 to 64 buy cryptos 13% more than young people aged 25 to 34 years. Less is spent on cryptocurrencies by representatives of the generation aged 18 to 24 years.

A significant portion of the crypto investors (49%) live in one city in New Zealand – Auckland. Among the customers, three out of four crypto investors are men, while CryptoSaver notes that there is a tendency to increase the share of women among investors.