March 20, 2020 Australia’s central bank finds that despite an 80% awareness rate, fewer than 1% of Australians paid with cryptocurrency in 2019.

A report from Australia’s central bank, the Reserve Bank of Australia (RBA), has shown that less than 1% of survey respondents reported using cryptocurrency to pay for goods in 2019. In its Consumer Payments Survey (CPS) that surveyed 1,100 people, the central bank found that despite this low usage rate, over 80% of respondents were aware of cryptocurrency and that it was the third best known alternative payment method. Overall, the study showed that cryptocurrency had the worst usage-to-awareness ratio of all payment methods surveyed. This was the fifth such survey and is believed to be the first that included cryptocurrency.