Crypto Audience Revealed: Who Is Your Target User?

In this article, we introduce some insights into exactly whom the crypto audience is made of in an attempt to help cryptocurrency businesses discover a little bit more about the customers they are attempting to attract to their website, and ultimately, their product.

Before getting started with marketing, it is important for any type of online business to know who their target audience is. This holds especially true for crypto businesses whose customers are a special breed of audience and not as easily defined as one might immediately think.

Statistics on the Demographics of Cryptocurrency Users

We start by looking at some of the basic statistical parameters to help identify a crypto-oriented target audience, including a breakdown of active users, gender, age, interests and geographic areas:

Number of active users

While over 43 million Bitcoin addresses have been created since the beginning of the world's first cryptocurrency, it is important to use the active number of Bitcoin addresses as a better measurement of actual daily users, which currently stands at about 637,000.

A meaningful monthly estimate of active cryptocurrency users in general can be found in Binance's total number of unique users per month, which currently stands somewhere around 19 million.

On an annual scale, a report released in late 2018 found that at least 139 million accounts had been registered across 180 different exchanges by December of that year, even though only 38% of the accounts were considered to be active.

Gender

Participants in the Bitcoin community tend to be extremely lopsided in the direction of the male gender, with slightly over 90% of users reporting themselves as male in a browser-based statistical overview.

On the Bitcointalk Forum, about 82% of all users identify as male. In short, men by far and away compose the cryptocurrency audience of today, but don't be surprised when the trend starts to shift closer to a balance after the mass adoption of crypto is well underway.

Age

The age disbursement of the Bitcoin audience is varied, but definitely youthful, with over half (57%) of Bitcoin-related website users being under the age of 34. About 38% of the audience was between the ages of 35-54, with the remaining 5% being ages 55+.

It is definitely the younger generations that are adopting cryptocurrency. Users of age 35 or over still account for 43% of the total community, meaning they should by no means be neglected.

Geography

Next to the interests of a user, geography is perhaps the most important factor when it comes to establishing an audience for any crypto-related business.

An international survey conducted in 2018 found that European nations tend to report the highest rates of ownership, at an average of 9%, followed by 8% in the United States and 7% in Australia. Interestingly, the highest rate of ownership among countries surveyed was that of Turkey, with 18% of the population responding that they held at least one digital currency.

Interests

Knowing what other subjects cryptocurrency users are generally interested in can also help crypto-based businesses target new customers. According to a Google Analytics report of a popular Bitcoin-related website, visitors tended to be most interested in a combination of financial services and software-related websites.

The top five interests of users browsing the website were as follows:

• Financial Services / Investment Services: 8.14%
• Software / Design Software / Drawing & Animation Software: 3.72%
• Financial Services / Banking Services: 3.3%
• Employment: 2.76%
• Consumer Electronics / Mobile Phones: 2.7%

In terms of affinities, the same community of Bitcoin website visitors tended to belong to the following categories by interest:

• Avid Investors: 7.29%
• Technophiles: 6.98%
• Shutterbugs: 6.64%
• Movie Lovers: 5.92%
• TV Lovers: 5.55%

Reasons Why People Don't Invest in Cryptocurrencies

Part of understanding the crypto target audience is knowing the biggest hindrances to the adoption of crypto. When designing a marketing strategy, it is important to attempt to avoid audiences who might be defined by any of the following statements:

• They find crypto hard to understand.
• They consider it to be too volatile.
• They believe their investments could lose all of their value.
• They believe all crypto to be a scam or in a bubble.
• They are under the impression it is illegal in their jurisdiction.
• They find crypto to be too difficult to spend in every-day life.

Conclusion

As a quickly generated profile of all metrics presented in this article, the typical crypto user can be described as the following: a European male, between the ages of 25 and 34, who is interested in finances, investing and technology.

Therefore, when building a marketing strategy, designing a product, or creating advertisements, the following aspects should be highlighted in order to maximize the potential capture of the crypto demographic:

• A website design should be heavily focused on technology while making the most that HTML has to offer.
• Advertisements, including banner and other messages should be geared toward a male audience.
• Marketing should be oriented toward an audience of millennials.
• Top geo-targeted areas should include Europe, the USA, and Australia.