The Demographics Behind Cryptocurrencies

According to a UK based cryptocurrency investment platform eToro, 91.5% of cryptocurrency transactions are made by men. This can be explained by the fact that men continue to hold much of the wealth according to various statistics such as the Forbes top 100 wealthiest individuals listing (where only 10 are women) and the USA household incomes to name just but a few. Nonetheless, there is more than meets the eye on this trend. The statistics are vital to Blockchain developers as they will be a guiding factor in enabling them to diversify and modify the marketing strategy to address the dynamics.

More Findings

The Students, Unemployed and Retirees

Although the largest proportion of Cryptocurrency investors from a gender standpoint is male. eToro research has revealed that retirees, students and the unemployed constitute 15.05% of investors. In the UK, this group consists of people outside the age brackets of 26-64.

To explain the numbers, students tend to understand the concept of Blockchains and can relate the models of operations and features to the future. This enables some of them to have confidence and make a move to invest in what they believe is a sure way to easy wealth. However, the limitation of lack of finances hampers their prospects and most students end up investing in relatively smaller figures. However, by the law of large numbers, the investments can work in the favor of Blockchain startups and ICO sales.

On the case of the unemployed, they tend to have a lot of spare time to go through Blockchain whitepapers and understand the problem, issues, the investment model, and prospects. This enables them to make the positive investment decision. However, like the students, the unemployed mainly rely on the limited unemployment benefits that have been tailored to at most help them get by in their daily lives. This fact limits their ability to make a significant mark. Nonetheless, this group constitutes an important clientele to Blockchain especially when they regain employment or have access to wealth.

Lastly, the retirees’ situation presents a mixed case where some may people may rely on pensions that are barely enough for survival or vast wealth after years of labor. Depending on the individual situation, the investments can be significant.

The First Timers

People with in-depth comprehension of Cryptocurrencies and Blockchains, surprisingly constitute a 7.58% of Cryptocurrency investors. On the other hand, 81.96% of investors claim not to have understood the investment model and also report that they are novices. This revelation underscores the truth of the matter that Marketing has been bearing results despite the fact that it has been outlawed and banned on some marketing portfolios like Facebook etc.

Changing the Trend

Although the scope of the research such as the sample size and the research method has not been disclosed, these findings can be used to remodify the marketing strategies to bring on board more women, the employed workforce, and Blockchain experts.

As an initial market research regarding Cryptocurrency investors, the statistics will raise concerns and compel more platforms to analyze the market. Understanding the investors is key to the normalization of Blockchains and Cryptocurrencies.