Cryptocurrency more enticing than gold and silver for Aussie share traders

This month, the number of Australians investing in cryptocurrencies such as Bitcoin surpassed the number investing in precious metals, such as gold and silver. That's according to digital asset, share trading platform BTC Markets.
BTC Markets' research shows that a third of these cryptocurrency investors made their move in March 2020 after the Covid lockdowns hit. However, what Australians are investing in hasn't been the only thing to change.
ASX's Australian Investor Study shows that the number of new investors rose by 10% in 2020. Around 45% of those who started investing in the previous 12 months were women. That's a significant increase on 31% - the percentage of women who started investing in the past five to ten years.
"At BTC Markets, we saw a 40% increase in client onboarding from the first to second half of 2020," said chief executive, Caroline Bowler.
Aussies of all ages are trading
Bowler added that in the past 12 months there has been a shift from mainly 25 to 45-year-old males to a much broader age group.
"Popularity and interest among the 60-plus has doubled over the last couple of years," said Bowler. Bowler added that this age group now makes up nearly 10% of BTC Markets' client base.
On top of this, it would seem that younger Aussies are jumping on board the investor train, too. ASX's report shows that 25% of new investors aged 18 to 24 only started investing in the past 12 months. Plus, 27% of those intending to start investing in the next 12 months were also under 25.
These younger investors are also doing things a little differently. According to ASX:
- around 34% invested all their spare cash in the three months to May 2020.
- nearly 20% take into consideration ethical factors when choosing what to invest in.
- around 41% said they prefer to receive investor education from YouTube.
- a further 34% take advice from friends and family.
- and, nearly 20% rely on social media for share trading tips and tricks.
Tips for new share traders
For anyone new to share trading (or share trading in digital currencies), BTC Markets has some tips:
- Do your research. Before diving in be sure to swat up on share trading and cryptocurrencies. In fact, you could start by reading our article: What is Bitcoin and why are people buying it now?
- Start small. BTC Markets suggests starting with small trades, while you get used to whatever share trading platform you're using.
- Be prepared to settle. According to BTC Markets, cryptocurrency trading requires instant settlement, so make sure your finances are in order before you make a trade.
- Go offline. Take your cryptocurrency offline, but be sure to remember your password.
For more information on share trading in general, check out our guide: How to start share trading for absolute beginners. Or if you're ready to get the ball rolling, have a look at the share trading accounts on offer below.
Compare share trading accounts - rates updated daily
Live Account
Small trade brokerage
Monthly fee
$5.00$0.00Superhero Live Account is trading for everybody. Zero brokerage when purchase ETFs and $5 when you sell, plus traders can get started with a minimum investment of just $100.
Live Account
Superhero Live Account is trading for everybody. Zero brokerage when purchase ETFs and $5 when you sell, plus traders can get started with a minimum investment of just $100.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- Shares held in a consolidated HIN under Superheros name, ownership remains with share purchaser.
- Settle from any bank account
- Settlement account offered
- Superhero Wallet is a cash management account built into Superhero Account (held under NAB)
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Live Account
Share Trading
Small trade brokerage
Monthly fee
$8.00$0.00ThinkMarkets offer an $8 flat fee share trading account with HIN ownership (CHESS sponsored) so you control your own shares plus free live price data and market depth.
Share Trading
ThinkMarkets offer an $8 flat fee share trading account with HIN ownership (CHESS sponsored) so you control your own shares plus free live price data and market depth.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- 10 free ASX trades when you open a new share trading account.
- Brokerage details
- $8 brokerage on trades up to $200,000, otherwise 0.05%
- Settle from any bank account
- Settlement account offered
- Option to link existing Macquarie Cash Management Account
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Share Trading
Trading Account
Small trade brokerage
Monthly fee
$10.00$0.00Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)
Trading Account
Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- Via CommSec Cash Account: $10.00 under $1,000, $19.95 between $1,001 and $10,000, $29.95 up to $25,000, then 0.12%. Via other account: $29.95 under $10,000, then 0.31%.
- Settle from any bank account
- Settlement account offered
- Commonwealth Direct Investment Account
- Share pack
- Independent broker reports
- (Aegis Research, $499 annually)
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Trading Account
Tiger Account
Small trade brokerage
Monthly fee
$6.49$0.00Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy $0 brokerage on US Stocks trading and ASX Stocks trading for 90 days with no minimum deposit required. (T&Cs apply - see website for full details. Limited time offer).
Tiger Account
Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy $0 brokerage on US Stocks trading and ASX Stocks trading for 90 days with no minimum deposit required. (T&Cs apply - see website for full details. Limited time offer).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Receive a limited time offer of $0 brokerage on U.S. and ASX trades for 90 days for new accounts opened with a completed deposit or transfer shares. $10 Stock Voucher for new accounts.
- Brokerage details
- 0.05% of trade value, $2.50 minimum brokerage + $3.99 platform fee.
- Settle from any bank account
- Settlement account offered
- no
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Tiger Account
Standard
Small trade brokerage
Monthly fee
$0.00$0.00CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Aussie and US shares from $0 brokerage (T&Cs apply - see website for full details).
Standard
CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Aussie and US shares from $0 brokerage (T&Cs apply - see website for full details).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $0 for trades up to $1,000. Greater of $11 and 0.1% for trades over $1,000.
- Settle from any bank account
- Settlement account offered
- CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Standard
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