Australians are all up for Bitcoin. But, why? It’s because of their extreme dissatisfaction and disappointment with the existing banking system. Cryptocurrency is the ray of hope they have had been looking for and we’re glad they didn’t give up too soon! In the end, the blockchain technology saved their day!
Generally speaking, Australia is a country which is more open and accepting of new innovations. We believe that’s great and smart to survive in the modern world of technology. It’s not the stone ages anymore, don’t you agree? You either be part of the revolution or stay behind while the rest of the world moves on to much better things.
That’s why we’re not surprised to know that the Australians have been loyal investors of the Bitcoin market since the beginning. Did you even know? Australia’s airport, Brisbane has been one of the first airports to accept a range of cryptocurrencies including Bitcoin, Dash, Litecoin and many more. A population of only 24 million people, and yet they are advanced as hell!
The Good Old Dissatisfaction
Australians have always shown dissatisfaction with their banking facilities as the Big Four banks hold a strong monopoly over the market, limiting the power of the consumer. However, in a free market consumers have all the power and choice when it comes to purchasing decisions. And, that is exactly how you want things to be my friends! It’s time to break the shackles!
The Big Four banks make more than $1,460 from every man, woman, and child in Australia. In total, they make a profit of $31.5 billion every year. Officers at banking corporations always work to increase their profits for their shareholders. While there are not many competitors, so they don’t have many choices. Bitcoin is their savior!
The cryptocurrency industry, is a new approach to finance and money that everyone needs to try! The crypto-world is based on a decentralized system and rewards are allocated to the miners accordingly. Cryptocurrency is offering the Australians with a variety of options when it comes to financial services.
The banking system in Australia has the goal to serve their shareholders, rather than the consumer which is why they feel they lack control and are neglected. However, cryptocurrencies are more independent and so much better! The transaction process is quick as hell and there is only a small processing fee. It gets even better! One can easily trade on the weekends and holidays too. The crypto-world never sleeps!
Open to Better Things
Innovation is creating jobs for the future generations. Australia only became an independent nation just over a century ago. But, my God. It has even overdone itself. It’s a much more progressed and technologically advanced country. Just by being open to better and newer things! See, stepping out of your comfort zone has its pros!
In latest news, Australia has already made a cryptocurrency taxation announcement. They decided to take input and feedback from the public to understand cryptocurrency taxation laws and its affects on business and their owners. Cryptocurrencies and Blockchain technology are underdogs in this large financial trillion dollar industry. And we know, Australians have always been underdogs. Perhaps this is what it takes to get to the top of the world!
Australia’s love for cryptocurrency, their dissatisfaction towards the existing banking system in the country and openness to innovation will take them a long way into the world of crypto. We can’t wait for more! They’ve conquered the crypto-world like a boss!