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A new report says blockchain demographics are changing in surprising ways

September 10, 2020

People in their twenties and thirties seem to be the majority of cryptocurrency traders around the world. This represents a change from previous figures, which not so long ago indicated that 30 and 40 year olds were the main demographics of the blockchain space.

According to a September 7 report BitFlyer, Japan’s largest cryptocurrency exchange by trading volume, In the EU, Japan and the US, the proportion of users in their twenties has doubled compared to 2018 data.

In the USA, BitFlyer traders in their twenties accounted for 14% of all users registered on the exchange in the first half of 2018. However, this proportion rose to 32% in the first and second quarters of 2020. According to a survey carried out by 539 users between August 7th and 24th.

A new report says blockchain demographics are changing in surprising waysA new report says blockchain demographics are changing in surprising ways

BitFlyer

Source: BitFlyer

BitFlyer data for the EU and Japan showed similar trends, The proportion of crypto traders in their twenties rose from 14% to 32% and 18% to 36% in just two years. The same survey found that Around 60% of cryptocurrency users preferred Bitcoin (BTC) to trading, followed by Ethereum (ETH) with 12% and XRP with 9%.

BitFlyer

Source: BitFlyer

Despite the stereotype that Some traders may take the risk and only bet on cryptocurrencies for short-term profits. Most of the respondents had long-term results in mind. 48.7% of BitFlyer users said they decided to venture into crypto because “good prospects for the future”, and 29.2% stated that they wanted to invest “Perspectives for Future Use”.

Numbers from traditional financial institutions You are starting to see these trends. Cointelegraph reported Sept. 8 that a representative for the investment firm, Morgan Stanley, He said that younger and more adventurous people often opt for cryptocurrencies, while older investors hold onto more traditional assets like gold.

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