In an illuminating survey conducted by the on-chain analytics platform CryptoQuant, vital insights into the demographics and trading preferences of cryptocurrency users in 2024 have surfaced. Conducted over November and December, the research captured responses from 1,478 individuals spread across diverse global regions, including Asia, Europe, North America, South America, Africa, the Middle East, and Oceania. A staggering 40% of participants hailed from Asia, followed by 29% from Europe and 10% from North America, suggesting a significant geographic skew towards the Asian market in cryptocurrency activities.
Most respondents were young, with approximately 60% falling within the age bracket of 25 to 44. Additionally, the data pointed to an overwhelming male majority, as 89% of participants identified as men. Education levels were also notable, with about half possessing at least a Bachelor’s degree, indicating that the surveyed population largely consists of educated individuals who are tech-savvy and possibly more inclined towards digital asset investments.
The survey revealed that roughly 62% of respondents have been engaged in the cryptocurrency space for over three years, highlighting a seasoned user base. While a significant portion—about one-third—emphasized that they trade cryptocurrencies full-time, the majority indicated that their annual investments are modest, primarily below the $10,000 threshold. This trend points to a dominant presence of retail investors, who often engage more cautiously in the volatile crypto markets.
When it comes to cryptocurrency exchanges, findings favored Binance as the leading platform, preferred by 53% of respondents for execution of trades and asset holdings. Coinbase maintained its status primarily in North America, but its global competitiveness appeared relatively lower. Bybit, OKX, and Bitget also garnered attention, especially among full-time traders—an indication of a trading community that appreciates professional trading environments with advanced functionalities.
The preference for specific cryptocurrencies was further analyzed, with Bitcoin (BTC), Ethereum (ETH), and layer-2 solutions leading investments among participants. Intriguingly, there was a notable rise in interest surrounding the integration of artificial intelligence with blockchain technologies. This suggests that users are keeping an eye on future innovations and trends that may disrupt the current landscape.
Interestingly, the survey revealed that most users preferred spot trading and holding over more complex trading strategies, as only a minority engaged in derivatives or yield farming activities. This inclination reflects a cautious approach among traders who may prioritize capital preservation over speculative risks.
Investment decision-making processes among cryptocurrency users appeared to hinge heavily on independent research complemented by insights from social media and Key Opinion Leaders (KOLs). This underscores the importance of accessible information in an industry characterized by rapid developments and volatility.
The CryptoQuant survey shines a much-needed light on who these cryptocurrency users are and how they engage with digital assets in 2024. By understanding their demographics, trading preferences, and decision-making processes, stakeholders can tailor their services and offerings to better meet the evolving needs of this dynamic market.