At least 14% of New Zealanders surveyed said they have owned cryptocurrency or held digital assets in the past. The findings categorize New Zealanders as early adopters, indicating they were quick to recognize the potential of cryptocurrency. Survey data reveal that only 16% of respondents would invest in real estate, compared to 60% who plan to invest in cryptocurrency.
Study: 14% of 'Early Adopter' Kiwis Own Cryptocurrency; Majority Favor It Over Real Estate
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Kiwis Early Crypto Adopters
According to a study, approximately 14% of surveyed New Zealand residents confirmed they currently hold cryptocurrency or have held it in the past. This figure represents a four-percentage-point increase from the 10% reported by the Financial Markets Authority (FMA) in 2022. When including residents who plan to acquire digital assets in the future, the survey found that nearly half (45%) of the respondents are potential crypto adopters.
The study report states that these latest findings categorize New Zealand as an “early adopter” within the crypto adoption continuum. In essence, New Zealanders are among the select groups who quickly recognize potential and are ready to embrace and explore new technologies, the study report said.
The survey also highlights young Kiwis’ growing preference for cryptocurrency investments over real estate.
“With the 1/4 acre dream becoming progressively challenging for younger folk – unless they have intergenerational wealth – and Genxers and Boomers looking to supercharge their retirement in an increasingly challenging economic environment, crypto has undeniable cross-generational appeal,” the study report stated.
Young Kiwis Favor Cryptocurrency Over Real Estate
To support this assertion, survey data show that only 16% of respondents would invest in real estate, compared to 60% who plan to invest in cryptocurrency. When asked about safe investments, only 20% considered government-insured investments as such. According to the report, these findings suggest that the remaining respondents view alternative assets like cryptocurrency as viable options for wealth growth.
Despite these promises, the lack of information deters many potential cryptocurrency users. Seven-two percent reported not knowing where or how to start with cryptocurrency, while 67% were either unsure whom to ask or where to find reliable information.
Commenting on the findings, Janine Grainger, co-founder and CEO of Easy Crypto, said the survey indicates that the era of focusing on cryptocurrency’s potential has ended. For the next generation of investors, the priority is understanding and establishing trust.
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