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Meet the Typical Cryptocurrency Trader!

Meet the Typical Cryptocurrency Trader!

BDCenter, a Belarusian digital marketing and consulting agency focused on the crypto space , has published a lengthy 100-page analysis of cryptocurrency exchanges.

The findings of the detailed study revealed the typical features of cryptocurrency traders and confirmed that the USA, Russia, and China remained at the forefront of the crypto trading industry.
BDCenter focused on the analysis of the heavyweights forming the top 30 crypto exchanges on Coinmarketcap, and also on some minor trading venues.
The study covered such as well-known companies as Binance, Okex, Huobi, Bitfinex, Upbit, Coinbase, Kraken, Bitstamp, Bittrex, Poloniex, Gemini. The researchers applied a comprehensive approach to their marketing strategy, turnover, profitability, and, among others, their target audience.

Portrait of a Crypto Trader
Geography
The data obtained from the users’ profiles on the trading platforms and some third-party sources revealed that the majority of crypto exchange traders come from the United States, China, and Russia. Together, they form almost 60 percent of the total number, with the US leading with 30.47 percent vs. Russia (15.37 percent) and China (11.23 percent). This “Big Three” is followed by Vietnam and Turkey.
Age
According to the study results, the largest number of crypto exchange users are male traders aged between 25 and 34 (over 37 percent). This turned to be true for almost every exchange, except for Bitbank.cc, where most traders belong to the 35-44 age group. The second largest group of crypto traders is formed by younger people aged from 18 to 24 (almost 18 percent). Interestingly enough, the average age of a trader in China (20-30) is lower than in the USA (30) or Russia (25-40).
Gender
The percentage of male traders exceeds 70 percent almost on every exchange, except for Exx.com, where women audience amounts to 52.67 percent.
Education
About a half of crypto exchange traders are university graduates with economics or mathematics as most popular degrees.
Other users reported they were yet to receive their Bachelor’s or Master’s degree. As for their experience in crypto space, over 60 percent of traders are beginners. Besides, according to the BDCenter findings, most successful traders knew Python and R programming languages.
Strategy
The researchers also claim that an average user spends on the platform about 10 minutes, visiting it 7-12 times per month and monitoring 4 to 13 currency pairs — with BTC, ETH, XRP, BCH, and LTC among most popular currencies.

Mass Adoption Remains a Distant Dream
The findings of BDCenter lead to sobering conclusions when put in a context.
According to separate research performed by Finder  back in March, only 8 percent of Americans have ever invested in cryptocurrencies. The same is true about Russia, where only 2 percent of the population is engaged in digital assets trading.
Considering that most cryptocurrency exchanges’ customers come from these two countries, the industry is still in its early days of adoption.
Do you fit the portrait of a typical trader? Do you know a lot of people engaged in cryptocurrency traders? What do you think of the future industry development? Let us know in the comments below. 

Images courtesy of Shutterstock.
The post Meet the Typical Cryptocurrency Trader! appeared first on BeInCrypto .

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