Most Crypto Traders Come From These Three Countries, Study Claims

[Leonardo]

Source: iStock/18percentgrey

US, Russian, and Chinese traders lead the way in cryptocurrency trading, BDCenter, a Belarus-based digital marketing and consulting firm, claims in a report after analysing the 30 most popular exchanges and a few smaller ones.

The researchers analyzed the target audience of the cryptocurrency exchanges using trader profile data as well as third-party researches. Based on this methodology and its findings, BDCenter concluded that US, Russian, and Chinese traders represent almost 60% of the crypto traders on exchanges with the US leading with over 30%:


Source: BDCenter

Also, the demographic data shows that the 25-34 age group has most traders (more than 37%), followed by young adults (18-24) with almost 18%. Furthermore, more than 70% of the traders are men with the exception for the crypto exchange exx.com (48%.)

Most crypto traders have already completed higher education, but a significant percentage of them are still involved in undergraduate or graduate programs. The most popular university degrees for traders include mathematical and economic studies.

Traders with no or minimal experience add up the largest group, followed by senior and junior crypto traders. Also, by monitoring user activity on exchanges, the researchers concluded that the average user spends approximately 10 minutes on the platform with the average retention rate being between 7 and 12 visits per month, viewing 4-13 currency pairs with the most popular ones being BTC, ETH, XRP, BCH, and LTC.

The researchers have also determined the common characteristics of cryptocurrency traders. According to them, the average trader studies or develops trading strategies; has an analytical mind and uses analytical tools; attends courses, webinars, or workshops on trading; has an understanding of investment products and services as well as showing a keen interest to asset management and the market. Furthermore, the researchers stated that top traders are able to use Python and R programming languages.

Source: https://cryptonews.com/news/most-crypto-traders-come-from-these-three-countries-study-cl-3033.htm

[ZionRTZ]

An interesting data. The study just proves what many are saying that cryptocurrency trading is only for the young and that it is dominated my men. This probably suggest that men are less emotional and younger people can handle the stress better.

[Zed0X]

No wonder why US SEC has been quite aggressive in dealing with cryptocurrency exchanges, their citizens dominate the crypto trading game. I am a bit surprise on Japan and South Korea to be out of the top five. I always thought they were right there with China.

[PRIBO247]

Now I understand why SEC is wielding its power and sounding so threatening! US dominates the chart! I am really surprised at this because I thought China and Russia are the main crypto countries.

[altcoingamer]

An interesting data. The study just proves what many are saying that cryptocurrency trading is only for the young and that it is dominated my men. This probably suggest that men are less emotional and younger people can handle the stress better.

Or younger people are less conservative and can handle the technology gaps better than people who are older.  I'm actually a bit surprised so many are from the USA.. guess it validates the US government's strong stance on tax evasion in this space.

[MVT$]

I am not expecting traders from US  to be twice as many than those from Russia.
I am also surprised with Singapore that low on the list. It is supposed to be one of the most cryptocurrency friendly countries.

[Kathrilmeena]

Can't imagine how it can be calculated, but from the early 2017 there are a lot of weak, unprofessional traders. It would be very interesting to know what is the ratio of proffesionals, that had a lot of experience of profit forex traidind?

[ZionRTZ]

An interesting data. The study just proves what many are saying that cryptocurrency trading is only for the young and that it is dominated my men. This probably suggest that men are less emotional and younger people can handle the stress better.

Or younger people are less conservative and can handle the technology gaps better than people who are older. 
~snip~

Perhaps. Younger people grew up with better or updated technology.
It may also mean that older generations are more into traditional investments.