eToro: More than 80% of crypto traders do not have experience in trading on stock exchanges

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Analysts of the international social trading platform eToro published the results of a study of their user base. Among other things, they found out that the vast majority of crypto traders do not have previous trading experience on stock exchanges, and Ripple is the most “female” of the digital assets.

The report collected data from March 2017 through February 2018, through which experts analyzed public profiles of cryptocurrency investors using eToro, and compiled a demographic profile of their clients – from age and sex to employment.

It turned out that the vast majority of traders do not have the experience of exchange trading and investing. So, 81.96% of them are at the level of “newcomers”, 10.66% – on “average” and only 7.38% of users can be called “advanced”.

At the same time, information technology workers make up only 15.05% of eToro’s user base, 8.48% in the financial sector, and 14.49% in the sales and marketing industry. At 30% of crypto traders on the site currently do not have a job: among them 13.85% are students, 2.06% retired, and 14.74% are simply unemployed.

Also in the report, there is a significant gender imbalance in the industry: only 8.5% of eToro users are women. It is noteworthy that the preferences for digital assets vary: while bitcoin is equally claimed by representatives of both sexes, many more women are interested in Ripple, while men tend to prefer Ethereum Classic, Bitcoin Cash, and Litecoin. Senior market eToro analyst, Mati Greenspan, even separately noted in a message to investors that “women adore Ripple.”

Almost exactly one year ago, representatives of eToro said that over the previous 12 months the volume of trade in cryptocurrencies on the platform increased by 4,500%.

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