bitFlyer Inc. Survey Suggests Rising Popularity of Cryptocurrencies Among People in 20s in Japan, US, EU
Most new bitFlyer accounts in the first half of 2020 across Japan, the US, and the EU are people in their 20s seeking mid-to-long term benefits
bitFlyer, Inc. (“bitFlyer”; HQ: Minato-ku, Tokyo; President: Kimihiro Mine), which operates Japan’s No. 1*1 crypto assets exchange by Bitcoin trading volume, has seen a rise in accounts opened by people in their 20s in the first half of 2020. Throughout the corporate group in Japan, the US, and the EU, people in their 20s make up the largest percentage of account holders. Based on these results, we surveyed our customers in Japan and saw that crypto assets are seen as having good future prospects and as good for mid-to-long term investments.
Trends in Account Creation during the first half of the year
The charts below show the change in age distribution of customers opening accounts in the first half of 2018 and the first half of 2020.*2 In the first half of 2018, the majority of our customers were in their 30s and 40s. In the first half of 2020, the ratio of customers in their 20s doubled compared to the amount in 2018. This same trend was observed in our Japan, US, and EU branches.
Period: August 7, 2020, to August 24, 2020
Method: Online survey
Subject: 539 people who completed their account information between January and June 2020
What got them into crypto assets?
Over half of the responses were for “Good future prospects.” “Prospects of future use” was number 4, which shows that our customers are anticipating the future prospects of crypto assets. In addition to the future prospects, we also received responses of “can start from a small amount” or “gain knowledge and experience.”
“Mid-to-long term use” got more responses than “prospects of short-term profit”, which shows that our newer customers are more interested in crypto assets as mid-to-long term investments.
What is their preferred crypto asset?
About 60% of responders preferred Bitcoin. Next was Ethereum, which gained a lot of attention from DeFi. We also got responses for Ripple (XRP), which we started handling last December, Nem, which we started handling in August, and Basic Attention Token.
We will continue our endeavors to enhance our services to increase the appeal of crypto assets to our customers, as well as ensure that crypto asset trades are safe and secure.
About bitFlyer, Inc.
bitFlyer was established in 2014 with a mission of “Simplify the world with blockchain.” We bring top-class security*3 on a global scale to our trading platform for Bitcoin and other cryptocurrencies, where we have maintained the largest Bitcoin trade volume in Japan. We’re also the only cryptocurrency exchange operator licensed to operate in Japan, the US, and the EU.*4
Service site: https://bitflyer.com/en-jp
*1 bitFlyer had the largest monthly trading volume recorded from January through December of 2019 in Japan (includes net settlement and futures trading) according to JPBitcoin.com.
*2 Research by bitFlyer using data from accounts created that performed identity verification from January through June 2018 and January through June 2020.
*3 bitFlyer was assessed as having the No. 1 security among the 140 cryptocurrency exchanges screened by Sqreen in January 2018.
*4 Based on research by bitFlyer as of September 2020.