Roughly 1 in 10 Aussie adults have a Coinspot account
Link copied to
Crypto exchange Coinspot has hit two million customers – roughly a tenth of Australia’s adult population.
The Melbourne-based exchange said it only hit the milestone of 1 million customers in February and now has double that thanks to the crypto boom.
The exchange is known for its simple interface that allows customers to easily buy and sell over 300 digital currencies.
By way of contrast, Binance Australia said in July it had 480,000 customers, although it’s the country’s leading exchange by trading volume.
Coinspot said its website activity has surged 603 per cent year-to-date and at one point it was the 19th most popular website in the country.
Yesterday afternoon Alexa ranked Coinspot.com.au as the country’s 33rd most popular website, just behind Pinterest.com.au and ahead of Nab.com.au, Westpac.com.au, Twitter.com and Linkedin.com. (Coinmarketcap.com was No. 46).
Bitcoin has been Coinspot’s most popular crypto, with trading activity up 190 per cent year-to-date, compared to the same period in 2020.
Dogecoin was the second-most popular crypto, with a dramatic 3,840 per cent rise in trading thanks to the meme coin’s exponential rise in May.
That month, the exchange also replaced Mercedes-Benz as the official sponsor of the AFL Premiership favourites the Western Bulldogs, and said it planned to roll out more high-profile sponsorship deals.
There’ll also be updates to the website and mobile apps, additional payment options and further integration of DeFi services.
“In 2021, we’ve certainly seen a dynamic shift when it comes to Australia’s crypto appetite,” said Coinspot founder Russell Wilson.
“We’re honoured to be at the forefront of advancing the crypto industry in Australia, and we look forward to what the future holds.
“We will continue to drive our mission of building the most accessible and secure cryptocurrency platform, allowing all Australians to access, learn, and utilise cryptocurrency and blockchain technology in day-to-day life.”
Crypto is “still in its infancy in Australia” and “the greater the access we can provide to this technology the bigger the opportunities there will be for Australian consumers,” Wilson said.
The majority of Coinspot’s customers are in Australia, but the exchange does have a small percentage of international customers, a spokeswoman said, adding that the 2 million figure refers to “active customers”.
Australia had a population of 19.8 million people aged 18 and older as of March 31, according to the Australian Bureau of Statistics.