Study: traders from USA, Russia, and China dominate the crypto-exchanges
Specialists of the Belarusian marketing agency BDCenter analyzed 30 most popular cryptocurrency exchanges and made some interesting conclusions. Probably, some of them are quite predictable, but some may cause to look not only the present but also at the future of the crypto-industry from the different perspective.
Analytics studied 30 cryptocurrency exchanges: Binance, Okex, Huobi, Bitfinex, Upbit, Zb.com, Hitbtc, Coinbase, Kraken, Coinex, Ibank, Bitforex, Bibox, Bit-z, Bitstamp, Bittrex, Bcex, Digifinex, Coinbene, Bitbank, Simex, Exx, Gate, Oex, Coinsuper, Topbtc, Poloniex, Wex, Gemini, and Coinsbank, wherein 10 exchanges are placed in China, 6 — in the USA, 5 — in Singapore, 3 — in UK, and the rest 6 exchanges are located one by one in South Korea, Taiwan, Japan, Australia, Samoa, and on Cayman Islands.
Moreover, the majority of these platforms users comes from the USA, Russia or China (in descending order). The fourth and fifth place were given to users from Vietnam and Turkey. The sixth and seventh — from Brazil and Ukraine. The eighth and ninth — from Japan and South Korea. The last countries that have more than 1% of users trading on top 30 exchanges are Germany and UK, while traders from France and Netherlands almost touched 1%.
BDCenter data shows that there is an age tendency on the majority of studied exchanges since more than the half traders are between 25– 34 years old. The exception is bitbank.cc, where the age segment 35–44 prevails. As for the distribution by country, the average age of the trader in China — 20–30 years old (50% of Huobi traders are between 30 and 50 years old). In the United States, the average age is around 30 years, whereas traders on Binance are a little bit older — 25–35 years old. In Russia, 50% of traders are 25–40 years old and 30% are between 18–25.
It is noted that 50% of users of exchanges have completed higher education — economic or mathematical, while some are still gaining their Bachelor or Magister degree. According to a study of the eToro platform in 2017, 82% of traders had no previous trading experience, 11% did some trading before, likely on traditional exchanges, and only 7% are professionals. Certainly, we cannot take statistics from only one exchange to represent the whole market, but it gives us the idea of the expertise levels in the industry. The majority of people who have an interest in cryptocurrencies have a financial or technical background, so the industry still has this atmosphere of the closed community. Another (rather predictable) fact is that all the exchanges have more than 70% of male traders. The only known exception is exx.com, where the percentage of the female audience is higher and amounts to 52.67%.
Today, then the market is living through the crisis, the industry has its turning point. Probably, many young and inexperienced traders will leave exchanges soon, taking time to either learn more about finances or save money for the new entrance then the time will be right. Let’s wait and see.