Cryptocurrency trading has settled in the financial landscape for a few years now, giving life to a new figure on the markets: the crypto trader. What is a crypto trader? What is his activity? How many can be counted? What platforms do they operate on? In which countries? What advice could be given to those who also want to become crypto traders?
Cryptocurrency trading: what is a crypto trader?
Studies on crypto traders follow one another and are not alike. Thus, the latest report concluded that there were more crypto traders than there had ever been, considering that more than 35 million users of a crypto account coins on the 139 million existing carried out regulated exchanges and therefore could be regarded as crypto traders.
These notable differences come from the fact that no study until now clearly posed the definition of the crypto trader, and especially did not share the same one. It is therefore difficult to count the number of people practicing an activity, if the practice of this activity has not been clearly defined. This is what GlobalCTB proposed to do.
According to them, cannot be considered as crypto traders, users of virtual currency. This title of crypto trader can only be returned to investors who use virtual currency exchange platforms. It is not enough to have crypto currencies to be a crypto trader, you must also carry out transactions on dedicated platforms.
Cryptocurrency trading around the world
The study by GlobalCTBshows that the cryptocurrency market is less centralized than previous studies had suggested.
The different cryptocurrency platforms for investing
There are many platforms for trading crypto currencies. These include: Kraken, Bitstamp, Poloniex and Coinbase which has the largest number of unique users (18.7 million).
In fact, almost 1 in 2 active crypto traders (47%) use the Exchange Coinbase platform to buy, sell and manage their cryptocurrency portfolio. The Coinbase platform recently announced 30 million open accounts and more than 20 million customers served.
The study by GlobalCTB confirmed that Coinbase had around 20 million crypto traders (18.8%). In other words, each trader has an average of 1.5 accounts.