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
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Share Investing
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 Australian and US shares from $0 brokerage (T&Cs apply - see website for full details).
Share Investing
CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Australian 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
- ANZ Cash Account
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Share Investing
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Share Trading
Small trade brokerage
Monthly fee
$3.00$0.00Trade more than 22,000 shares, ETFs and options across the Australian, US and Hong Kong markets on the moomoo Australia platform. And only pay from A$3 for local CHESS-sponsored trades and US$0.99 for all US trades. Other fees apply. Earn up to 6.8% p.a. introductory rate for 30 days, applicable to up to AU$80,000 on uninvested cash, and get 10 free stocks with eligible deposits (T&Cs apply)
Share Trading
Trade more than 22,000 shares, ETFs and options across the Australian, US and Hong Kong markets on the moomoo Australia platform. And only pay from A$3 for local CHESS-sponsored trades and US$0.99 for all US trades. Other fees apply. Earn up to 6.8% p.a. introductory rate for 30 days, applicable to up to AU$80,000 on uninvested cash, and get 10 free stocks with eligible deposits (T&Cs apply)
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Ongoing free access to real-time US market data.
- Brokerage details
- ASX trades are 0.03% the transaction amount, minimum $3.00 per order. US trades from $0.99 USD, other fees apply.
- Settle from any bank account
- Settlement account offered
- Customer funds held in segregated trust accounts with HSBC.
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- Additional regulatory pass-through fees apply for US trades. Options are available for US markets only.
Read our Mozo Review to learn more about the Share Trading
Share Trading
Small trade brokerage
Monthly fee
$7.70$0.00Buy and sell with a low $7.70 flat fee per trade and access to all ASX Shares and ETFs to invest in with GO Markets. Enjoy dedicated local customer support, a regulated Australian company for trading ASX Shares and ETFs. Plus, enjoy $0 Brokerage on your next 15 trades! (T&Cs apply).
Share Trading
Buy and sell with a low $7.70 flat fee per trade and access to all ASX Shares and ETFs to invest in with GO Markets. Enjoy dedicated local customer support, a regulated Australian company for trading ASX Shares and ETFs. Plus, enjoy $0 Brokerage on your next 15 trades! (T&Cs apply).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $7.70 brokerage for trades under $100,000, then 0.05%.
- Settle from any bank account
- Settlement account offered
- Macquarie Cash Management Account
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Share Trading
Tiger Account
Small trade brokerage
Monthly fee
$2.99$0.00Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Mozo special offer for new users only: 7% p.a. on uninvested cash balance up to AUD $100,000 for the first 30 days, with a value up to AUD $575. Plus receive US$30 NVIDIA (NVDA) fractional shares with an accumulated deposit of at least AUD $2,000 within 7 days of the first deposit. T&Cs apply – for full details, go to the Tiger Brokers website.
Tiger Account
Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Mozo special offer for new users only: 7% p.a. on uninvested cash balance up to AUD $100,000 for the first 30 days, with a value up to AUD $575. Plus receive US$30 NVIDIA (NVDA) fractional shares with an accumulated deposit of at least AUD $2,000 within 7 days of the first deposit. T&Cs apply – for full details, go to the Tiger Brokers website.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Mozo special offer for new users only: 7% p.a. on uninvested cash balance up to $100,000 AUD for 30 days valued up to AUD $575. Plus get USD $30 NVDA fractional shares with a deposit of AUD $2,000 within 7 days of the first deposit. T&Cs apply.
- Brokerage details
- 0.03% of trade value, $2.99 minimum brokerage.
- Settle from any bank account
- Settlement account offered
- no
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Tiger Account
Share Trading
Small trade brokerage
Monthly fee
-$0.005000+ stocks and 19 exchanges all on the eToro app. Invest in ETFs with $0 commission and stocks with just US$2 per trade. Join the world’s leading social trading platform, trusted by 30+ million users worldwide.
Share Trading
5000+ stocks and 19 exchanges all on the eToro app. Invest in ETFs with $0 commission and stocks with just US$2 per trade. Join the world’s leading social trading platform, trusted by 30+ million users worldwide.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $2 USD brokerage fee for stock trades, 0.5% fee is applied to all funds paid into or taken out of the USD settlement account
- Settle from any bank account
- Settlement account offered
- Customer funds are held in a Trust Account managed by JP Morgan Chase and Co
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- $5 USD withdrawal fee applies and a $10 monthly inactivity fee is charged after 12 months with no login activity.
Read our Mozo Review to learn more about the Share Trading
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