In the last couple of years there has been a growing interest in virtual currencies. This has resulted in all kinds of people with different demographic profiles investing in digital assets. Between March last year and February this year eToro conducted a study seeking to find out the background of the investors.
According to the study most of the investors had little or no experience in trading in virtual currencies. Additionally most of them were students and their career background was in sales or marketing. Interest in virtual currencies was highest among those aged between 18 and 23 and then typically fell with the rise in age.
Popularity across age groups
With regards to what cryptocurrency was most popular among the different age groups, Ripple (XRP) was the most popular among all age groups followed by Bitcoin (BTC) and then Ethereum (ETH). Litecoin (LTC) was the fourth most popular cryptocurrency per the eToro study. Other digital currencies which were surveyed included Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC), Stellar Lumens (XLM) and Neo (NEO).
As pertains to the level of experience with regards to digital currencies majority of those surveyed were novices. The percentage of those who had an intermediate level of experience was significantly lower while those with an advanced level of experience were even lower.
While respondents with a career in sales/marketing formed the single biggest chunk of crypto investors, other career backgrounds which had a significant representation included students and those in the computer and information technology field. There was also a significant number of investors who possessed no career indicating that they were probably wholly reliant on trading in cryptocurrencies or had taken to investing in the space because of lack of other opportunities.
The career backgrounds that were on the other end of the spectrum included arts & design, legal and real estate fields. Retired people were also underrepresented perhaps an indication of the risks that cryptocurrencies are perceived to possess.
When it came to gender men were the majority of crypt investors. About 91.5% of crypto investors were male compared to a figure of 8.5% female.
Disclaimer: Nothing in this article should be construed as financial advice in any way, nor as an encouragement to engage in cryptocurrency trading activity. This article was not sponsored by any entities or companies mentioned in the article. The only purpose of this article is to inform/educate on the topics discussed in the article.
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