In the year 2017, cryptocurrencies became quite popular. Bitcoin became a household name. As a result, each and every person was buying Bitcoins. However, many analysts actually wonder who are actually the holders of Bitcoin. There are rumors that students as well as teenagers and even millionaires are buying Bitcoins. That is why, eToro decided to conduct some research on who exactly is buying Bitcoin. It is a platform which is famous for its social trading.
Demographic of individuals buying Bitcoins:
According to the research conducted by the platform, most of the people who are buying Bitcoins are in the age of 18 to 35. They often have occupations which are related to the IT industry or to the financial services. Also, the youth is buying Bitcoin as the risk tolerance levels are on the higher side. They are not just limiting investments to buying Bitcoins but they are investing in other cryptocurrencies like ripple as well as Ethereum. As a result, the portfolio of such individuals is actually quite diversified.
Moreover, such individuals are also looking to invest in other cryptocurrencies in order to diversify the portfolio as well. As a result, they are able to diversify their risk as well.
When you look at the investing experience of individuals who are investing in Bitcoin as well as other Altcoins, they can be considered as amateurs at best. Only a few of the investors have prior investing experience. That is why, many of the people are investing for the 1st time around.
When you look at the profitability, you will realize that Ripple is the asset which has provided them with the best returns. If you look into the worst performing one, it is certainly Bitcoin Cash.
These insights will actually help the cryptocurrency industry in order to expand their footprint as well. As a result, it will become much more easier for them to target the right demographic as well. This will ensure that they are able to expand the audience participation and boost the return on advertising budget.
With the help of this research, it can be easily seen that in many of the cases, it is only the younger generation which is investing in Bitcoin as well as other cryptocurrency assets. The older generation is keeping away from such assets. This is one of the main reasons why the advertisements need to be geared towards the younger generation as the conversion rate will be much better.