Here are the key trends in crypto user demographics and exchange preferences for 2024 (survey)

A recent survey by on-chain analytics platform CryptoQuant has revealed key trends in demographic and digital asset exchange preferences for crypto users in 2024.

According to a report shared with CryptoPotato, CryptoQuant conducted the survey between November and December 2024. There were 1,478 respondents, all residing in Asia, Europe, North America, South America, Africa, the Middle East and Oceania.

Key trends for crypto users in 2024

The majority of respondents reside in Asia (40%), Europe (29%) and North America (10%). The survey asked 35 questions about user demographics, investment behavior and crypto exchange preferences.

About 60% of respondents were between the ages of 25 and 44, and 89% were male, indicating that the crypto industry is predominantly made up of young men. Approximately 50% have a bachelor’s degree, so respondents are considered a generally educated audience.

Additionally, 62% of respondents have been in the crypto space for more than three years, reflecting a seasoned user base. While a third of respondents revealed that they trade cryptocurrencies full-time, around half of them said they invest less than $10,000 per year. This indicates that retail investors dominated the survey.

More spot trading than derivatives

Binance emerged as the most preferred crypto exchange in most regions, while Coinbase only dominated in North America. About 53% of respondents singled out Binance as their most used exchange, 48% said they hold the majority of their assets on the platform, while 50% recognized the entity as the place they sourced from most of its benefits. The next favorite exchanges were Bybit and Coinbase.

Additionally, the survey found that Bybit, OKX, Bitget, and Binance had a higher percentage of full-time traders, while Crypto.com, Coinbase, and Kraken hosted more part-time traders.

“Exchanges with more full-time traders will likely prioritize innovation in trading tools and efficiency to maintain their more professional user base, focusing on advanced trading features and lower fees for high volumes,” he said. say CryptoQuant.

In terms of preferred cryptocurrencies, bitcoin (BTC), ether (ETH) and layer 2 assets emerged as the most invested. Respondents also indicated a growing interest in integrating artificial intelligence into blockchain technology.

In particular, users are mainly engaged in spot and exchange trading. Only 19% trade derivatives and 3% participate in their assets or engage in yield farming.

Meanwhile, respondents said they rely on independent research to make investment decisions, but also on social media and key opinion leaders.

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