The survey, released on January 15th, 2024, revealed that over 60% of crypto investors are aged between 25 and 44.
The majority of these crypto investors fall into the younger, educated, and financially cautious category. This paints a picture of a market driven by young, savvy investors who are still dipping their toes into the crypto waters, investing under $10,000 annually.
Young, Educated, and Under $10K
According to CryptoQuant’s “2024 Crypto Survey: Exchange Use and Investor Behavior,” the age breakdown shows that 35% of crypto investors are between 25 to 34 years old, while 26% fall within the 35 to 44 range. Education is also a key factor, with nearly half of the respondents holding a bachelor’s degree, and 28% possessing advanced degrees.
However, despite their educational backgrounds, the survey reveals that most investors are still taking a conservative approach, with most investing less than $10,000 annually. This highlights the fact that retail investors—who are more cautious with their funds—dominate the crypto market.
Binance Dominates the Market
Binance stands out as the go-to platform for many crypto investors, with 53% of participants using it as their primary exchange. It also ranks the highest in profitability, with 51% of users reporting that their largest gains came from Binance.
The exchange is particularly popular in Asia, Africa, and South America, where usage rates top 50%. In North America, however, Coinbase takes the lead, with 45% of respondents citing it as their primary exchange.
Investor Behavior and Preferences
The survey also delves into the behavior of crypto investors when making decisions. Around 22% of respondents rely on their research, while 16% follow social media influencers or key opinion leaders. Interestingly, recommendations from friends, communities, or media outlets have a smaller impact on decision-making.
When it comes to trading, 76% of investors prefer spot trading over derivatives or staking. Only 28% of investors engage in products like staking and yield farming.
The survey also reveals that 83% of respondents are cautious about exchanges with regulatory issues, with Binance being viewed as the most compliant by 32% of investors, followed by Coinbase at 14%.
Disclaimer
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