These are the Key Trends in Crypto User Demographics and Exchange Preferences for 2024 (Survey).

A recent study by on-chain analytics platform CryptoQuant revealed key trends for crypto users' demographics and digital asset exchange preferences in 2024.

According to a report shared with Cryptopotato, CryptoQuant conducted the survey between November and December 2024. There were 1,478 respondents, all living in Asia, Europe, North America, South America, Africa, the Middle East, and Oceania.

Key trends for Crypto users in 2024

The majority of respondents live in Asia (40%), Europe (29%) and North America (10%). The survey asked 35 questions about user demographics, investment behavior and crypto exchange preferences.

60% of the survey respondents were between the ages of 25 and 44 and 89% were male, indicating that the crypto industry is predominantly comprised of young men. Approximately 50% have a bachelor's degree, so the study participants are generally considered an educated audience.

Also, 62% of respondents have been in the crypto space for more than three years, reflecting an experienced user base. A third of respondents said they trade cryptocurrencies full-time, with half of them investing less than $10,000 a year. This indicates that retail investors dominated the survey.

More space than Origins Trading

Binance emerged as the most preferred crypto exchange in most regions, while Coinbase only dominated in North America. About 53% of the respondents highlighted Binance as the most frequently used exchange, 48% said they kept most of their assets on the platform, and 50% admitted that the legal entity was where they made most of their profits. The next most preferred exchanges were Bybit and Coinbase.

Additionally, the survey found that Bybit, OKX, Bitget and Binance have the highest percentage of full-time traders, while Crypto.com, Coinbase and Kraken house more part-time traders.

“Exchanges with more full-time traders can leverage innovation in trading tools and a more professional user base, focusing on advanced trading features and prioritizing low fees for high volumes,” CryptoQuant explained.

In terms of preferred cryptocurrencies, Bitcoin (BTC), Ether (ETH) and Layer-2 assets emerged as the most invested. The respondents also pointed out that there is a growing interest in integrating artificial intelligence with blockchain technology.

In particular, users are primarily involved in spatial marketing and exchange. Only 19% trade derivatives, and 3% share their property or engage in farming.

Meanwhile, the respondents said they rely on independent research to make investment decisions, but also on social media and key opinion leaders.