A study by Swyftx, which surveyed 2,229 adults, found that around 20% of respondents had never come into contact with cryptocurrencies, while a staggering 43% felt they lacked understanding about how they operate. The survey revealed that nearly one-third of respondents favored buying regulated cryptocurrencies, while 41% expressed distrust in unregulated ones. Based on this, Swyftx estimated that currently 3.9 million Australians have already entered the cryptocurrency realm, and another 1.3 million plan to join within the next year. Despite Bitcoin reaching an all-time high of $73,750 in March 2024, the usage of cryptocurrencies in Australia has shown a slight decline. This indicates that while there is potential for market growth, investors require a more definite and stable legal environment to boost their engagement.