Post on 04-Jul-2020
#thefutureofcrypto
1,018Online SurveyParticipants
81% Male19% Female
53% ≤ 35 years (Millennials)
47% > 35 years
Key Takeaways
44% do not trust
crypto-currencies
69%expect that
opening a crypto-currency accounttakes 24h or less
76%store crypto-
currencies offline or have thought
about that
80%inform themselves
online about thecryptocurrency
market
How would you describe your financial know-how?
2,0
10,9
36,0
38,1
13,0
2,0
11,0
32,3
41,5
13,2
2,0
10,8
40,5
34,1
12,6
1,1
8,0
33,5
42,6
14,8
5,7
23,4
46,4
19,3
5,2
0
5
10
15
20
25
30
35
40
45
50
1 2 3 4 5
All
Millennials
Age > 35
Male
Female
Non-existent Professional
in %
Do you have one or more cryptocurrency trading accounts?
16,9 18,2
64,9
25,222,7
52,1
9,7 9,5
80,8
19,421,2
59,4
6,34,7
89,0
0
10
20
30
40
50
60
70
80
90
100
Yes, I have one Yes, I have several No
in %
The cryptocurrency market is still a niche. Young men are early adopters. The majority of crypto traders have several trading accounts.
All
Millennials
Age > 35
Male
Female
When did you open your first cryptocurrency trading account?
0,5 1,0 1,22,7
1,2
3,9
8,6
49,1
31,8
0
10
20
30
40
50
60
2010 2011 2012 2013 2014 2015 2016 2017 2018
in %
estimated
Cryptocurrency trading accounts vs. Bitcoin price (USD)
0,5 1,0 1,22,7
1,2
3,9
8,6
49,1
31,8
0
10
20
30
40
50
60
2010 2011 2012 2013 2014 2015 2016 2017 2018
The opening of new cryptocurrency trading accounts and the Bitcoin price seem to correlate.
in %
estimated
Cryptocurrency trading account openings
Mass market adoption is just starting.All Participants
20112012201320142015
2016
estimated
2017
2018
How many cryptocurrencies did you trade?
4,5
16,8 16,515,1
47,1
4,8
15,9 15,216,3
47,8
3,4
19,320,5
12,5
44,3
4,7
15,416,3 15,7
47,9
0,0
38,1
19,0
9,5
33,4
0
10
20
30
40
50
60
0 1 2 3 More
Bitcoin is not theonly cryptocurrencyin focus. Big demandto trade othercryptocurrencies.
in %
All
Millennials
Age > 35
Male
Female
How long should it take to open a new cryptocurrency trading account (incl. the deposit of money)?
20,0
22,5
26,6
23,4
7,5
0
5
10
15
20
25
30
0 - 10 min 10 - 60 min 1 - 24 hours 1 - 3 days > 3 days
in %
2/3 of the traders want to have their account opened and money deposited within 1 day or less.
How often do you trade cryptocurrencies?
19,9
47,9
22,1
8,1
2,0
22,5
48,5
19,3
7,8
1,9
11,5
46,0
31,0
9,2
2,3
19,1
48,2
22,3
8,3
2,1
33,3
42,9
19,0
4,8
0,00
10
20
30
40
50
60
Yearly Monthly Weekly Daily More often
Higher tradingfrequency ratherthan buy and hold strategy. Wealthier“Age > 35“ groupinitiates moretrades.
in %
All
Millennials
Age > 35
Male
Female
Have you considered storing cryptocurrencies offline?
Yes, I thought about that
Yes, some of my cryptocurrencies are stored offline
Yes, all my cryptocurrencies are stored offline
I‘m not sure
No
in %
41,2
26,6
8,7
7,5
16,0
High awareness ofrisks associated withtheft of cryptoassets. However, a high technicalbarrier to actuallyact on a saferstorage solution.
How do you keep informed about the cryptocurrency market?
3,9
9,8
10,9
27,5
40,9
54,1
54,9
71,7
0 10 20 30 40 50 60 70 80
Other
Events
Newspaper
Family and friends
Online via newspaper
Social media
Blogs
Online communities and online forums
in %
Vast majority usesonline media to gaininformation aboutcrypto assets.
Top 5 features that are important to cryptocurrency traders
1. Speed
2. Safety
3. User Experience
4. More Cryptocurrencies
5. Low Fees
Top 5 improvements cryptocurrency traders demand
1. No Down Time
2. Lower Fees
3. More Cryptocurrencies
4. Introduction Guide
5. More Languages
Why didn’t you start trading cryptocurrencies?
0,9
3,2
7,7
10,2
19,0
19,0
36,1
38,7
44,0
0 5 10 15 20 25 30 35 40 45 50
I had bad experience with cryptocurrencies
I don't like to make such decisions by myself
The fees for cryptocurrencies are too high
It's too complicated to open a new account
It's too complicated
I don't have enough money to invest
I don't have enough know-how about cryptocurrencies
Cryptocurrencies are too risky
I don't trust cryptocurrencies/cryptocurrency exchanges
in %
0
5
10
15
20
25
30
35
40
45
50
1 2 3 4 5
All
Never traded cryptocurrencies, never traded financial products
Never traded cryptocurrencies, but traded financial products
Traded cryptocurrencies,but never traded financial products
Traded cryptocurrenciesand traded financial products
Very negative Very positive
How do you feel about the future of cryptocurrencies?
in %
Do you think that the cryptocurrency market is a bubble?
0
5
10
15
20
25
30
35
40
45
1 2 3 4 5
All
Never traded cryptocurrencies, never traded financial products
Never traded cryptocurrencies, but traded financial products
Traded cryptocurrencies,but never traded financial products
Traded cryptocurrenciesand traded financial products
AbsolutelyAbsolutely not
in %
Do you see cryptocurrencies as an alternative to existing currencies?
0
5
10
15
20
25
30
35
40
1 2 3 4 5
All
Never traded cryptocurrencies, never traded financial products
Never traded cryptocurrencies, but traded financial products
Traded cryptocurrencies,but never traded financial products
Traded cryptocurrenciesand traded financial products
AbsolutelyAbsolutely not
in %
How do you see cryptocurrencies as an investment opportunity?
0
10
20
30
40
50
60
70
1 2 3 4 5
All
Never traded cryptocurrencies, never traded financial products
Never traded cryptocurrencies, but traded financial products
Traded cryptocurrencies,but never traded financial products
Traded cryptocurrenciesand traded financial products
SafeSpeculative
in %
About Sowa Labs
Sowa Labs is a fintech startup specialized in predictive data analytics and disruptive applications in trading of financial assets and cryptocurrencies. We focus on real-time data analytics in crypto and financial
markets and the development of trading applications. In 2017, we teamed up with Boerse Stuttgart Digital Ventures to create the future of trading.
Visit www.sowalabs.com and subscribe to ournewsletter to be the first to know how our journey continues.