The world of crypto has people around the world investing in it, but what are the demographics? Most would assume It’s just young millennials making a fortune, but who are the real crypto users?
It seems like everyone is talking about cryptocurrency these days, and just as many are trading and profiting with it.
The University of Cambridge has released a document on global cryptocurrency demographics. In summary here are a few of their findings:
There are currently between 2.9 million to 5.8 million active cryptocurrency wallets. This stat is so vague because users are allowed more that one wallet. But this is still a lot. 27% of users, which accounts for 39% of these wallets are all North American. 29% of users and 42% wallets are European. 36% of users and 19% wallets are Asian-Pacific.
This confirms speculations that China is a dominant force in the cryptocurrency industry. But there are more individual users in both Northern America and Europe.
A recent survey on Reddit has revealed some more in-depth demographic statistics on the users who are involved with cryptocurrency and blockchain technology. The subreddit in which the survey was held has over 600 000 subscribers.
Surprisingly the average age of the users was around 35. The majority were 16-40 years old and just a handful were older. This stat alone shows just how far the reach of crypto is. 50% of the total users were American which is perhaps a skewed fact: Reddit being a primarily American based app.
Men seem to control the crypto space with a staggering 95% of the users being male. However, this is a far deeper rooted statistic. In general, IT and computer-related sciences have always been a male-dominated field, and so it makes sense that there are fewer women involved with crypto.
These users aren’t exactly your basement dwelling geeks either, over 75% have a university degree and higher and less than 1% are unemployed. These users are all highly active checking Bitcoin and Alt Coin’s prices more than ten times a day.
Perhaps the most impressive stat is that 5% of these users are living solely off the money they make off of cryptocurrency. This clearly proves that crypto is a viable investment if used proactively.
The majority of these users started trading crypto in 2013 and 2017. Now, these dates makes sense. In 2013 we saw an increase of 500% in Bitcoin and then in 2017, we saw it violently spike up 2000% drawing in lots of investors. Bitcoin being a good indicator, as it is the primary cryptocurrency.
As you can see the crypto world isn’t just for tech gurus and millennials but for a much broader audience.
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