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3 December 2018

Cryptocurrency Exchanges

Luno Investigates Interests and Views of Bitcoiners on 3 Continents


The stereotypical Bitcoin owner is a male in his late twenties, usually a programmer with a slight inclination for the right side of the political spectrum. What does research say? Does the same image of a cryptocurrency fan prevail in other countries? The latest global report by Luno and Metricso shows that it’s not really the case.

December 03, 2018 | AtoZ Markets - The Luno platform, which allows to buy Bitcoin and Ethereum, checked what cryptocurrency enthusiasts are interested in. In cooperation with Metricso, the profiles of nearly 140,000 adult Facebook users and 15,776,160 of their interactions in social media on three continents – in Asia, Africa and Europe – were analysed.

The goal was to learn whether cryptocurrency users from various countries have something in common. There are many stereotypes about the cryptocurrency market. The average Bitcoiner is pictured as a hacker, a speculator, or even a criminal.

The research by LUNO, however, reveals an entirely different image of people interested in this sector. In Luno, we have compared the interests and views of people in Poland, South Africa, Indonesia, and France. (for start - soon more data about 10 more countries :))

We are aware these countries differ in terms of economic development, culture, history, or even typical ways of spending free time. That is why it was even more interesting to look for things they have in common.

Cryptocurrencies are a man’s world? Not in Poland!

Men constitute the majority of those interested in cryptocurrencies, regardless of the country or continent. However, the key difference is the percentage of women taking part in the study. Although men are also the most numerous group in Poland (64%), women are not far behind.

In fact, as many as 36% of women are interested in cryptocurrencies. Compared to other countries, only women from South African come close to Poles (every fifth female respondent is interested in them). The fewest women are interested in cryptocurrencies in France (6%). 

The age structure is no surprise as well. Virtual money attracts mainly the youngest respondents, under the age of 24. Their share varies between 38% in France and 32% in the United Kingdom. Interest in digital currencies diminishes with age. In all countries studied by Luno and Metricso, the share of people over the age of 55 did not exceed 10%.

Start-ups are popular with cryptocurrency fans

For the respondents from 3 continents, the main area of ​​interest is broadly defined knowledge and recreation. Art, culture and sport are further down the list with similarly high numbers. Poland is an exception, where television and music take priority over knowledge. 

What do Bitcoiners stand out with? They are typically young, active people who grew up in the Internet age. They are quite familiar with fintech issues. They are also curious about the world. Among the respondents are travellers, businessmen, music lovers, film fans and athletes. People interested in cryptocurrencies tend to search for information about start-ups, entrepreneurship and marketing.

The individual groups stand out with their higher-than-average interest in business and exact sciences. Cryptocurrency enthusiasts in Poland and the United Kingdom are interested in start-ups 13 times more than the general public. They follow pages devoted to marketing, science or politics much more often than the statistical social media user.