New Zealanders Choose Crypto Over Real Estate, Study Indicates

cryptonews.com:

A new study shows a surge in interest in crypto among New Zealanders, with nearly half of them looking to crypto to build wealth instead of real estate. The research, conducted by Protocol Theory and Easy Crypto, suggests many Kiwis are turning to crypto due to frustrations with traditional financial systems.

Over a third of investors indicated they’re drawn to crypto because it cuts out banks and other institutions. They view these as roadblocks to their financial goals.

The survey results also showed that most people believe they can invest in crypto a bit at a time. On the other hand, only a small portion feel the same about real estate. This highlights the idea that crypto is seen as more accessible than real estate, due to the high costs associated with getting into the property market.

“For many Kiwis, the dream of home ownership is becoming increasingly unattainable,” said Janine Grainger, CEO at Easy Crypto. “With younger generations facing financial challenges unless they inherit wealth, and older generations looking to bolster their retirement, cryptocurrency is gaining cross-generational appeal.”

Image Source: Protocol Theory

New Zealand is seeing a boom in crypto use, with ownership reaching a record high. Of over 1,000 respondents, 14% now or previously owned crypto, up from 10% in 2022. Meanwhile, 45% said they’re considering investing in the future.

For many, the aspiration of owning a home in New Zealand clashes with their present economic circumstances. Concurrently, cryptocurrency is gaining wider acceptance, even among institutional investors.

Despite the surge in interest, 72% of those who haven’t invested yet say they’re confused and unsure where to begin.

Difficulty understanding the information (67%)