Investigating the behavior of cryptocurrency market users at different ages based on the Nobitex annual report
Younger people are waiting for the opportunity to buy digital currencies
A comparison of the composition of assets in the wallets of Iranian users of the digital currency market in different age groups shows that the younger ones have allocated the largest share of their cryptocurrency portfolio to Tether.
The statistics obtained based on the 2022 report of the Nobitex digital currency exchange indicate that young users have been waiting for opportunities to buy at low prices by buying and holding more Tether in this year, which was a year of decline in the price of digital currencies.
As users get older, crossing the 30-year mark, they choose Dogecoin as the main part of their investment portfolio.
The asset composition of users aged 18 to 24 shows that more than 21% of the asset portfolio of this age group belongs to Tether, followed by Dogecoin with 16.6%, Bitcoin with 11.5% and Ethereum with 9.9%. The following positions are located. Shiba, Cardano and Tron are also in the next categories of users’ wealth in this age group.
At the age of 25 to 30 years, the situation is almost the same and Tether is given priority. 19.4% of the assets of people of this age belong to Tether, followed by Dogecoin, Bitcoin, Ethereum, Shiba and Cardano.
But at the age of 31 to 40, the situation is a little different and Dogecoin has overtaken Tether. Dogecoin accounts for 18.6% of the assets of users in this age group, followed by Tether with 13.9%, Bitcoin with 10.3%, and Ethereum, Shiba, Cardano, and Tron.
In the age group of 41 to 50 and 51 to 60 years, Dogecoin is the most popular to keep, and Tether is placed after Dogecoin. For 41 to 50 years, after Dodge and Tether, Ethereum, Bitcoin, Sheba, Ripple and Tron are the most popular, and for 51 to 60 years, after Dogecoin and Tether, Bitcoin, Ethereum, Sheba, Cardano and Tron are placed. .
The greater interest of 31 to 60-year-olds in Dogecoin has made this Elon Musk’s popular meme-coin to have the largest share of the total asset portfolio of Nobitex users on average.
If it can be said that the number of searches for different coins on Google indicates that people are more interested in a coin, it can be concluded that there are interesting similarities and differences between Iranian users of the digital currency market and other users in the world.
While in Iran, Dogecoin is considered to be the most popular cryptocurrency for investment, the search results of the people of the world on Google in 2022 show that in this year, the word Bitcoin was searched 28 million and 410 thousand times, and after Bitcoin, Dogecoin With 5 million and 850 thousand searches, it is in the next position and Shiba Ino has also been searched 4 million and 430 thousand times. Ethereum is in the next rank with 3.84 million searches, followed by Avalanche, Litecoin, Cardano, Ripple, SafeMon and Nexus.
Of course, on the other hand, it should also be pointed out that Bitcoin, due to its importance and the impact of its price on the price of other cryptocurrencies, is naturally the most searched for. Just like the number of visits to the Nobitex Bitcoin page, it has the highest number of visits among Nobitex market pages.
But Iranian users over 60 years old have a different behavior compared to other age groups, and interestingly, for 61-70 year olds, Bitcoin is a priority and 18.4% of the asset portfolio of people in this age group is Bitcoin. After Bitcoin, there are Tether, Ethereum, Dogecoin, Shiba, BNB and Ripple.
71 to 80 year olds have placed Tether with nearly 22% and Ethereum and Bitcoin with 16.6 and 15.1% at the top of their assets, respectively, Dogecoin, Shiba, Ripple and BNB, other cryptocurrencies These people are popular.
People over the age of 60 seem to have the most logical asset portfolio in terms of holding cryptocurrencies with stronger backing, and are less likely to get caught up in the excitement of buying memecoins like Dogecoin and Shiba Ino.
Considering the average age of 35 years for Nobitex users, it does not seem far-fetched that the most active age group in Nobitex is between 31 and 40 years old. This group has formed about 40 percent of users and has been placed at the head of age groups just like in previous years.
51 to 60 years old, the owner of the highest property value
31 to 40 year olds, due to their larger population among users, have recorded the largest share of all cryptocurrency assets in their name, and nearly 42% of the total assets in Nobitex belong to 31 to 40 year olds, but from the average point of view, the assets available in Wallet users, the 51 to 60-year-old group have almost twice the average of all users, have cryptocurrency assets in their wallets, and have obtained a higher wealth index. The reason for the higher wealth index of people over 50 can be analyzed in two issues; Firstly, people of this age probably have more financial stability, and the second point is that this age group is probably less willing to learn about transferring assets from an exchange to a personal wallet, and they prefer to transfer their digital assets to a wallet without the possible hassles of transferring them. Keep personal money in the exchange wallet.
The basis for calculating the wealth index in this report is the average assets in the wallets of all users; So that this average is considered as a basis of 100 units and the index of 26 means that the group in question has almost a quarter of the total average in their Nobitex wallet.
But in terms of the number of transactions, 31 to 40 year olds are still at the top, and more than 39% of Nobitex transactions were made by users of this age group, and 41 to 50 year olds are in the next rank.
The asset portfolio of users in age groups was mentioned, but different age groups differ in the cryptocurrencies they have traded with the most, and each age group chooses different cryptocurrencies to buy and sell. Of course, on average, Shiba Inu has the largest number of cryptocurrency purchases and sales in Nobitex. The reason for the high number of purchases and sales of this cryptocurrency can be found in the high fluctuations in the price of this coin, which users have tried to profit from its high fluctuations in the short term by buying and selling Shiba Ino daily.
The comparison of the composition of transactions of different age groups shows that as we move from youth to middle age, the share of Tether in the composition of transactions becomes less and less. So that 18 to 24 year olds allocate 21.6 percent of their transactions to Tether, they have considered the largest share for this stablecoin, and the lowest share of Tether in all transactions is related to the age group of 61 to 70 years.
Based on this, 18 to 24-year-olds have made the most purchases and sales in Tether, Tron, Shiba, Dogecoin, Bitcoin and Cardano cryptocurrencies, respectively.
25 to 30 year olds have done most of their transactions on Tether cryptocurrency and after Tether, Shiba, Dogecoin, Tron, Ethereum, Bitcoin and Cardano, they are the cryptocurrencies with which the most buying and selling of users of this age group is done.
But for 31 to 40 years, Shiba was at the top of the number of purchases and sales, and Tether and Dogecoin were in the next positions.
Users aged 41 to 50 have put Shiba, Dogecoin, Tether, Tron and Bitcoin at the top of their buying and selling goals, respectively.
On the other hand, the 51 to 60 year olds had the most transactions in Shiba, Dogecoin, Bitcoin, Tether, Ethereum, Tron and Cardano, and the 61 to 70 year olds had the most transactions with Shiba, Dogecoin, Ethereum, and Bitcoin, respectively. , Tron, Cardano and Tether have done.
This report can provide experts and analysts with an analysis of the type of view of digital currency market users in Iran at different ages; An analysis that can be extended to the entire Iranian cryptocurrency community, considering the activity of more than four million and five hundred thousand Iranian users of the cryptocurrency market in Nobitex.
You can read the full text of Nobitex’s 2022 report in this file: full report