Changes are often necessary, however, when it comes to changes that have to do with our money, we think about it many times to carry out the actions, even so, many people have decided to trust and invest in cryptocurrencies, a completely new but that nowadays has become very popular globally, and the advantages that it has when we make the comparison with fiat money have become quite clear; But although much is heard on the subject, little is known about the people who use cryptocurrencies, in this article, we will share some important information about users, what their profile is and what they have in common among users, what is the payment behavior and the reason why they decided to change the traditional currency for this new payment method.

User profiles

In a study carried out last year, it was possible to highlight that a good part of users who operate with cryptocurrencies are between the ages of 26 and 45, of this part of users, 25% corresponds to the Millennials generation ( generation comprised of those born between 1980 and 2000), 31% comprise generation X (which is the generation comprised of those born between 1965 and 1979). Regarding the percentage of men and women, women have little participation, since out of every 10 users, 8 are men and 2 are women, and regarding the educational profile, there is a greater presence of users with higher education levels, or are studying at that level.

Payment behavior

Likewise, it could be observed in this study, in terms of payment behavior, that 37% of payments are made with cryptocurrencies, while the remaining 63% of operations continue to be carried out using Fiat money. As for the most used currencies, Bitcoin is found with 52%, followed by Ethereum with 39% and the rest of other cryptocurrencies. If you want you can read our previous article titled 7 advantages of using cryptocurrencies as a means of payment

The Millennials generation

As mentioned above, this young generation between the ages of 26 and 35, this generation tends to “break” with established habits regarding money. In a survey conducted by the firm eToro, it indicates that American Millennials have more confidence in cryptocurrencies as an asset, above the stock market. In that study, almost 43% of the young people surveyed stated that they had confidence in cryptocurrencies to make commercial exchanges, and it was also observed that older people still continue to trust traditional banking. If you want you can read our previous article titled 10 Advantages of decentralized systems

What do you think about this topic? Did you know that millennials are the largest users of cryptocurrencies?

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Image by Annie Spratt via under creative commons license.

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