Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading...

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#thefutureofcrypto

Transcript of Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading...

Page 1: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

#thefutureofcrypto

Page 2: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

1,018Online SurveyParticipants

81% Male19% Female

53% ≤ 35 years (Millennials)

47% > 35 years

Page 3: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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

Page 4: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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 %

Page 5: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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

Page 6: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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

Page 7: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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

Page 8: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

Cryptocurrency trading account openings

Mass market adoption is just starting.All Participants

20112012201320142015

2016

estimated

2017

2018

Page 9: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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

Page 10: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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.

Page 11: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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

Page 12: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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.

Page 13: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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.

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Top 5 features that are important to cryptocurrency traders

1. Speed

2. Safety

3. User Experience

4. More Cryptocurrencies

5. Low Fees

Page 15: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

Top 5 improvements cryptocurrency traders demand

1. No Down Time

2. Lower Fees

3. More Cryptocurrencies

4. Introduction Guide

5. More Languages

Page 16: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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 %

Page 17: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

0

5

10

15

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30

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45

50

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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 %

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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 %

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Do you see cryptocurrencies as an alternative to existing currencies?

0

5

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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 %

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How do you see cryptocurrencies as an investment opportunity?

0

10

20

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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 %

Page 21: Sowa Labs Online-Survey #thefutureofcrypto · Do you have one or more cryptocurrency trading accounts? 16,9 18,2 64,9 25,2 22,7 52,1 9,7 9,5 80,8 19,4 21,2 59,4 6,3 4,7 89,0 0 10

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.