If you are considering getting on board the cryptocurrency train you probably share some characteristics with the other millions of investors across the globe, at least according to some recent studies.
Where you Live
If you are using a crypto exchange you are probably Indian, American, or Nigerian. That’s not surprising given the populations of these countries and a general laissez-faire attitude towards digital currencies in these countries (although that might be changing). However, when it comes to the percentage of the population who own crypto one country is clearly at the top of the pile – Vietnam, where 6.1% of the citizens have crypto holdings. There are additional resources available at Canada best Crypto exchange.
You use a Crypto Exchange – Do you Trust Cash?
Get ready for a shock. Crypto traders may have a reputation as mavericks – but research has shown that they are no more likely to distrust the financial system or cash than the average man on the street (Auer and Tercero-Lucas, 2021).
Are you Risk Averse?
Feminists may not like the news, but the majority of crypto investors are men – and this has been linked to a higher tolerance for risk. By way of example – 3% of crypto owners and traders who own more than one digital currency are me. Only 0.6% are women.
Given the conversation and missionary stance of the giddier crypto enthusiasts, one might be forgiven for assuming that they were starry-eyed youngsters. But no. Research has indicators that those active on their chosen crypto exchange are an average of 35 years old. It is true that the older one gets the less inclined one apparently becomes to trade in crypto – but again the idea of increasing risk-aversion may come into play.
The Most Important Factor
If there is one factor that will influence investment in the cryptocurrency market it is the individual’s comfort with the digitally driven world ((Auer and Tercero-Lucas, 2021). These are people who own a smartphone that they probably use to make payments to retailers (where that is possible). This conclusion relied on three factors, which are; the possession of a debit card, using PayPal in the last 12 months, and making a payment using a mobile application to make a payment at a retail establishment.
So, when all is said and done the average crypto enthusiast is an educated, 35-year-old man who is married, earning a living at the top end of the earnings Bell Curve, and (believe it or not like video games).
Are you a match? If not, you may match the general (incorrect) perception of a crypto investor, a maverick outlier.Continue Reading