More millenials register on bitFlyer, anticipating a positive future for crypto

Comparing our data from 2020 to 2018, we have seen a rise in accounts opened by people in their 20s in the first half of 2020. Throughout our user bases in Europe, the US and Japan, people in their 20s make up the largest percentage of account holders, which was not the case in 2018.

Based on these results, we surveyed some of our new customers and saw that crypto assets are considered as having good future prospects and as a good mid-to-long term investment.

Trends in Account Creation during the first half of 2020 compared to 2018

The charts below show the change in age distribution of customers opening bitFlyer accounts in the first half of 2018 and the first half of 2020.(*1) In the first half of 2018, the majority of our new customers were in their 30s and 40s.

In the first half of 2020, the proportion of customers in their 20s doubled compared to the amount in 2018. This trend that appears to be global as the same thing was observed in our EU, US, and Japan branches.

The main group has shifted from 30s and 40s to 20s in the US

The main group has shifted from 30s and 40s to 20s in Japan

To learn more about our customers' motivations, we conducted an online survey in August 2020, polling around 500 people who registered on the platform in Japan, between January and June 2020.

The questions were:

“What got you into crypto assets?”
“What is your preferred crypto asset?”

Here are the results:

Over half of the responses were for “Good future prospects.” and “Prospects of future use” was a top 4 answer, which shows that our customers are anticipating a positive future for crypto assets.

In addition, popular answers were “can start from a small amount” or “gain knowledge and experience.” Showing that people are looking for getting started and learn more about crypto in general.

“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 an investment, rather than a way to make quick money.

60% of responders said that they expect the most from Bitcoin (BCT). Ethereum (ETH) was second, as it gained a lot of attention from DeFi. Other popular coins were Ripple (XRP), NEM, and Basic Attention Token (BAT).

It seems that Bitcoin remains the most popular cryptocurrency, especially according to new joiners on our platform in Japan.

We’re glad to see cryptocurrencies and our platform gaining popularity among younger populations. We’re also excited to hear from our new customers that they are keen to get started and learn more about Bitcoin and other cryptocurrencies, anticipating a bright future for the industry.

Here at bitFlyer, 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.

Disclaimer :

The information contained in this article is for general information purposes only. bitFlyer EUROPE S.A. does not assume any responsibility or provides no guarantee for the accuracy, relevance, timeliness or completeness of any information.

You accept that you are responsible for carrying out your own due diligence when investing. bitFlyer shall in no way be responsible for any acts taken on account of this article nor does bitFlyer provide any investment advice for its users.

*1 Research by bitFlyer using data from accounts created that performed identity verification from January through June 2018 and January through June 2020.