Young male adults dominate retail usage of crypto exchanges, according to a study by the Bank of International Settlements, which said the group is commonly described as the most risk-seeking segment of the population.
Between August 2015 and November 2021 – the month in which Bitcoin’s price peaked at $69,000 – the monthly average number of daily active users of retail crypto exchanges rose from 119,000 to over 32.5 million, according to a recent study by the Bank of International Settlements (BIS).
By market, Turkey led with the most downloads per 100,000 people followed by Singapore, US and UK.
The findings are based on data, such as downloads and active use, from operating systems, app stores and crypto exchange apps.
Young «Risk-Seeking» Men
One noteworthy finding from the study is the demographic breakdown with men under the age of 35 dominating crypto exchange usage at nearly 40 percent – a group BIS said was «commonly identified as the most 'risk-seeking' segment of the population». Men aged between 35 and 54 made up another 25 percent.
In contrast, less than 35 percent of all users globally are female with the majority being those under the age of 35.
«This pattern is consistent with the findings of surveys on cryptocurrency and fintech use; here, too, men are overrepresented,» the report added.
Price Sensitivity
In addition to adoption, the study also found that young men were especially sensitive to Bitcoin price swings compared to others.
The level of sensitivity to price movements for young men is two times more compared to older men and four times more compared to older women – the least responsive group.
