Bitcoin’s community is predominantly made up of techies, nerd and young male users since the inception of cryptocurrency.

However, in 2015, the data was analysed to bring forth the profile of real users worldwide that are using bitcoins.

As per the data collected of 4000 respondents, supposedly the largest survey in the history of bitcoin, this report is an in depth analysis of the really uses the digital currency, who is not really using it and how that does not make any difference. The report also identifies how cryptocurrency can expand its usage and move on to newer set of people with different economic needs and status.

Highlights of the report

Overall, the bitcoin research reports how the young, white men that are tech enthusiasts became the promoters of bitcoin. Amongst over 3500 respondents, 60% are below the age of 35 years. It also highlights the women have still not been in the fold despite several efforts such as Bitcoin women’s day. More than 90% of the survey takers were identified as men.

As per the racial break-up, 65.8% respondents using bitcoin were identified as ‘white’ with ‘Asians’ close second.

Even though the people using bitcoins are tech enthusiasts, the notion that they are also the early adopters of the technology is basically wrong. Most people who entered into the bitcoin trade began only after May 2013 while others started last year.

However, this data has its own limitations since the survey was only available on the main website of CoinDesk and other social media platforms. This is the reason the respondents are mainly centred in the American or European sectors only and does not reflect the profiles of users that are stationed outside these regions. The findings of the survey do not take this imbalance into account and only present their conclusions based on the results of the survey as-is.

The Research Says

CoinDesk research has been a great initiative in this direction that tries to provide an in-depth analysis of the current user base. This will help the market channel their efforts accordingly and expand the reach of crypto-currency to other users as well.

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