Report: US, Russian and Chinese Traders Lead the Way in Cryptocurrency Trading
The majority of crypto traders comes from the United States, Russia, China, Vietnam, and Turkey, accounting for almost 75% of the total crypto traders all over the world, claimed a report after analyzing 30 most popular crypto exchanges.
The report was recently conducted by BDCenter, a Belarus-based digital marketing and consulting firm. According to the report, most exchanges are adapted for residents of Asia, with 11 out of the 30 analyzed exchanges registered in China and 20 of them have a Chinese version.
Based on data from trader profiles on these exchanges and data from third-party, the analysis concluded that exchanges clients are mainly based in the U.S., Russia and China, represent almost 60% of the total number, with the U.S. taking the lead with over 30%.
The great number of Asian traders contribute to the large trading volume. Trade action of recent weeks has seen P2P volume surge throughout the region. According to Coin.dance, a number of Asian P2P markets have shown significant strength in recent weeks.
The demographic data shows that most traders (37%) are aged between 25-34 years old, followed by young adults (aged 18-24) with almost 18% percentage. In addition, at least 50% of users have completed higher education – economical or mathematical, and others are still involved in undergraduate or graduate programs.
The research also found out that the average user spends 10 minutes on these exchange platforms, with the average retention rate between 7 and 12 visits per month and 4-13 currency pairs being viewed per visit. BTC, ETH, XRP, BCH and LTC are rated as the most popular coins.