Market experts for the social investing network and multi-asset brokerage firm, Etoro, have piloted a research of their user base to aid the company get a clearer grasp of exactly who are bitcoin and cryptocurrency investors.
The researchers took a look at data from March 2017 to February 2018, and surveyed the public profiles of those investing in cryptocurrencies, and extracted demographic insights from age to gender to job sector.
An intriguing point that was gotten from the information is that a majority of traders are new in the business with regards to having any experience in the industry. A remarkable 81.96% are at the Novice level, 10.66% are seen as Intermediate level, and just 7.38% can be considered as having an Advanced level of experience in the market.
Looking at the analysis by occupation, it’s not at all surprising to see people working in the computer and IT services which are represented at 15.05%, as well as the finance industry at 8.48%. Less expected is the high share of people who are working in the sales and marketing involved in cryptocurrency trading at 14.49%. In addition, about 30% of cryptocurrency traders are out of the job market, with 13.85% being students, 2.06% retired, and 14.74% just having no job.
One demographic issue that keeps coming up in relation to cryptocurrency developers is the surprising lack of female representation, and the same can be said of traders. In fact, the data shows that less than a tenth of crypto traders are women, with just 8.5% market share as opposed with men’s 91.5%.
While there could be other elements, bitcoin is located at the middle of technology and finance, both fields that are hampered by severe gender imbalance, so the results are not all that surprising in that context.
Interestingly, the research also uncovered that there are variances between the cryptocurrencies men and women would like to trade, other than BTC which has 0% gender difference. It appears that Ripple’s XRP tilts strongly into the female side, while ETC, BCH and LTC are planted in male territory. In a note to investors, Senior Market Analyst at Etoro Mati Greenspan, summed it all with a clear “Women love ripple.”
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