60% Of Crypto Investors Are Young, Educated And Invest Less Than $10K – Survey
A new survey conducted by onchain analytics company CryptoQuant found that more than 60% of cryptocurrency investors are between the ages of 25 and 44.
CryptoQuant's “2024 Crypto Survey: Exchange Use and Investor Behavior,” released on January 15, shows that 35% of users are between the ages of 25 and 34, with 26% falling in the 35 to 44 age bracket.
The report also showed that crypto investors tend to be highly educated, with nearly 50% having a bachelor's degree and 28% having a higher degree.
The majority of crypto investors are young, male and have a bachelor's degree. Source: CryptoQuant Research
The crypto space remains predominantly male, with 89% of respondents identifying as male and only 11% as female.
Most respondents reported investing less than $10,000 per year, highlighting the dominance of retail investors in the market. Regionally, Asia leads with 40% of users, followed by Europe with 29% and North America with 10%.
When making investment decisions, 22% of investors rely on their own research, while 16% turn to social media influencers or key opinion leaders. Friends, community recommendations, and media outlets have little influence on investment choices.
Spot trading continues to dominate the crypto space, with 76% of users preferring it over shares or staking. Only 28% used products such as stock keeping and crop farming.
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Binance is off the charts.
Binance emerged as the most preferred cryptocurrency exchange, with 53% citing it as the main platform. It ranks highest in profitability, with 51% of users reporting their biggest gain through Binance. Additionally, 48% of respondents said they held most of their assets on the exchange.
Other platforms such as Bybit, OKX and Bitgate were more popular among full-time traders, while part-time traders favored Coinbase and Kraken. Regionally, Binance dominates in Asia, Africa and South America, with usage rates above 50%. Coinbase leads in North America, with 45% of respondents using it as their primary exchange.
The study found that 83% of participants either observed or avoided exchanges with control subjects. Binance was seen as the most compliant by 32% of respondents, followed by Coinbase at 14%.
Bitcoin and Layer-2 solutions control interest
Bitcoin remains the most sought-after cryptocurrency, followed by Ethereum, layer-2 scaling solutions and decentralized finance (DeFi).
Bitcoin (BTC) is the top choice for profit, preferred by 18% of users. Ether (ETH), Solana (SOL) and XRP (XRP) follow closely behind.
“The focus on high-end cryptocurrencies will highlight the continuity of blue-chip assets, highlight traders' confidence in established projects and limit exposure to lesser-known tokens,” CryptoQuant's research notes.
According to CryptoQuant, the findings are based on responses from 17,566 participants.
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