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%:
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. Crypto Traders