Recent research conducted by Bitget, the leading cryptocurrency exchange, has shed light on the profile and trading preferences of crypto users in Europe.
The findings not only lend strength to some existing research, but also provide interesting insights into the evolving cryptocurrency trading landscape.
Bitget’s research on crypto trading in Europe: demographic analysis, European habits and investment preferences
Based on the analysis of 2,500 participants from Germany, France, Spain, Italy and the Netherlands, the typical crypto user in Europe falls in the 30-40 age group and is predominantly male.
About 53% of participants belong to the 30-40 age group, while 32% are under 30 years old. These results are in line with global trends, which show that millennials make up the majority of cryptocurrency holders.
Interestingly, males dominate the European crypto space, accounting for 93% of users, exceeding the global average. However, the Netherlands stands out with 11% female traders, showing the potential for greater female involvement.
The research reveals that a significant majority of European traders are relatively new to the cryptocurrency market, with 53% having less than one year of experience, while 41% have between two and five years of experience.
This pattern highlights the growing interest in and adoption of cryptocurrencies in recent years. Many traders view cryptocurrency trading as a hobby to generate additional income.
Among the participants, one-third engage in regular trading (several times a week), while another third do so occasionally.
A noteworthy finding is that 50% of respondents prefer futures trading, despite the fact that it is considered more suitable for experienced traders.
This choice demonstrates the enthusiasm and willingness of European traders to explore advanced trading tools. However, the French predominantly prefer spot trading, with 55% preference over futures trading (36%).
Crypto copy trading offered by Bitget
Copy trading, a method that allows users to imitate the strategies of experienced traders, has gained popularity in the European market.
The research indicates that 40% of participants use copy trading, with 23% using it regularly and 24% considering it their main trading tool.
Italy in particular shows higher adoption rates, with 50% of users using this method. Accessibility and ease of use are cited by 49% of participants as the main advantages of copy trading, regardless of their experience.
In addition, 33% value the opportunity to learn from experienced traders. On the other hand, 42% of non-users prefer to execute their own trading strategies, while 19% have not yet explored this concept.
European cryptocurrency traders have a generally positive view of Bitcoin’s future. The research reveals that 91% of participants believe that the value of BTC will increase by the end of the year, with nearly 60% estimating a value of up to $45,000.
The future of the crypto world according to the research
Looking to the future, the research points out that the crypto market in Europe is a growing and developing space. The findings highlight the importance of inclusive engagement, particularly among women, to ensure a more diverse and representative user base.
As cryptocurrencies become more widespread, it is critical that educational initiatives and user-friendly platforms support and empower new traders.
By providing accessible resources, tutorials, and user-friendly interfaces, cryptocurrency exchanges and platforms can attract and cultivate a wider audience.
In addition, the growing popularity of copy trading indicates a desire for knowledge sharing and mentorship within the cryptocurrency community.
More experienced traders have the opportunity to contribute to the development of new talent by providing insights, strategies, and guidance to those who are just beginning their journey.
In terms of market sentiment, the overwhelming optimism of European cryptocurrency traders about the future of Bitcoin demonstrates confidence in the long-term potential of digital currencies.
Projected value estimates of up to $45,000 by the end of the year reflect a positive outlook for the market.
However, it is important to remember that the cryptocurrency market is volatile and subject to several factors that can affect its value.
Conclusions
Bitget‘s research not only offers valuable insights into the European cryptocurrency landscape, but also serves as a reminder of the dynamic nature of the industry.
As the market continues to evolve, it is critical that traders, platforms, and regulators adapt and stay informed about emerging trends, technologies, and best practices.
To promote a healthy and thriving cryptocurrency ecosystem, industry stakeholders should work together to establish transparent regulations that protect investors while promoting innovation and growth.
By creating a balanced regulatory framework, governments can instill confidence in the market and attract institutional investors, further promoting mainstream adoption of cryptocurrencies.
The results indicate that although most European crypto users are still relatively new, cryptocurrency adoption continues to grow.
In particular, there is significant potential for growth among women, who currently make up a small percentage of cryptocurrency users.
With the adoption of trading as a hobby, tools such as copy trading are becoming more popular, offering individuals the opportunity to trade, potentially earn passive income, and learn from experienced traders.
As the cryptocurrency market matures, further research and exploration will undoubtedly contribute to a deeper understanding of this evolving landscape.
Source: https://en.cryptonomist.ch/2023/07/16/bitget-highlights-trends-eu-crypto-trading/