Analysis: Who is using Bitcoin & Blockchain, July 2019

2 weeks ago

Bitcoin has emerged as a major cryptocurrency power, and it has seen a huge growth in the number of users. Over the years, people have moved on to find new ways to use the bitcoins, and it has been successful and helpful for them.

Bitcoin was initially introduced as an investment opportunity for people so that they can make the best use of their earnings. But over the years with the introduction of new crypto wallets and websites and flexible payment modes, bitcoin has been used to make payments to traders as well as to people for personal reasons.

One thing used by all

Being easy to use and available to everyone, bitcoin has a user base ranging from people of the ages 18-19 and goes all the way to adults aged 65+. We have seen that a lot of people have started using bitcoin for different uses, and these are students who have saved up or people who are earning.

Such people consider this as a better usage and investment of their money as compared to investing in other areas. All the wallets and sites for cryptocurrencies make it easier for them to keep track of their investments and manage them in one single place.

The trend of investment shows various stats and tells us about the percentage of people of a specific age group that are engaging in the investment of cryptocurrencies.

Making it big when young!

Source: coin.dance

People between the age group of 18-24 made up about 9.34% of the whole investors market. This is the age group of young and sharp minds that are getting aware of new things in the world and want to invest in such matters to understand the risk and profit factor closely.

One such young genius who made it big by investing in bitcoin is Erik Finman. He started at the age of 12, and now he owns 401 bitcoins or over $4.4 million.

These people invest in such things because they are young investors and wish to get a taste of the investors market and understand how things work. Such young people, so they go for the alternates that are cheaper but have the same or better return on investment.

The Opportunists

Moving on to the age group of 25-34, this is the age group that holds the most prominent part in the investment market with a share of 47.95%. The reason being that they have been earning money and saving up for a while now.

People in this age group are always looking for opportunities that could help them invest their hard earned money safely and get returns that can help them to fulfill their future goals and help them reach there faster.

Similarly, people in the age group of 35-44 are the ones that are looking for an investment to utilize their money, or they are investors who are planning to make huge investments for more monetary benefits. They have a share of 28.33% in the bitcoin community, second highest amongst all.

This age group also includes some traders who use bitcoin as the platform to make payments or receive payments for the ease of doing business in other countries. This is a fast and secure way for the traders to keep the balances clear.

Barry Silbert

One such example of a cryptocurrency investor is Barry Silbert who has a crypto net-worth of over $400 million. He is well known in Wall Street for building a platform named Second Market which was made to help in the trade of those assets which were hard to trade.

Time for new innings!

Moving on further we come to the age group of 45-54, making up 9.6% in the community, people in this age group have invested in bitcoins because of the news that they see and how the exchange rates are.

Blythe Masters

Blythe Masters is an excellent example of how women have shown interest in the world of cryptocurrencies. Currently, she works as the managing director for J.P. Morgan Chase & Co.

Now we come to the elder age groups of 55 years and above. The fact that these people are aware of the bitcoin and are investing in it is a huge success. This age group makes up a total of 4.77% of the bitcoin community, and this is an increase from the past.

People of this age include people who are willing to invest their money in technology and blockchain development department.

Age is just a number when you are motivated!

Tim Draper in November 2017

A great example of this is Tim Draper, a venture capitalist showed interest in bitcoins and purchased a bulk of 30,000 BTC in 2014. Now those value at over $100 million. In 2014, he bought the same coins for just over $18 million, and this investment has paid him in a great way.

It’s becoming a women’s world too!

The Bitcoin community is always witnessing something new now and then, and recent stats have seen an increase in the number of women taking part in the world of Bitcoin.

Source: coin.dance

Stats show that there are about 9.91% females as compared to 90.09% of males who are active in the market. There is a vast difference, but the interest of women in this shows a good future for everyone as well as Bitcoin.

Sometimes you lose, sometimes you win.

There are times when people mess up, unfortunately, and one such incident happened with the British singer Lily Allen. In 2009, Allen was offered thousands of bitcoins to perform a concert for Second Life, San Fransico based online virtual world.

Lily Allen

She turned down the offer by saying “as if” because bitcoin was a new concept back then. In 2014, the value of those coins offered reached 20 times the net worth of Lily Allen. She admitted the error and called herself an idiot by using a hashtag #idiot while posting it on Twitter.

But there are women who over the years have understood the value of cryptocurrencies and the world of blockchains and have made an impact in their field. Jillian Godsil is one such woman of crypto and blockchain world.

Jillian Godsil

Jillian co-founded Blockleaders.io with David Atkinson. She is making her way to the list of global top 50 women in blockchain as well as known as the crypto queen. Last year Jillian was shortlisted for two women of the year awards in Ireland.

Facing several hardships in her life, she picked herself up and got back in the game. Now she travels the world to speak at blockchain conferences and help people understand the importance of blockchain.

Your time is now!

Bitcoin has become one of the most renowned and trusted cryptocurrency ever since it was launched and the user base has increased more and more. As the stats showed, people of every age group are curious about the cryptocurrency world, and they are trying to be a part of the community.

Seeing the growth of cryptocurrency culture, and acceptance all over the world for various uses, there are chances that the world might shift to crypto and use it. So investing in crypto might be risky, but it’s worth a shot.

If you liked the article, let us know in the comments below.

Vineet Chaudhary @coinnounce

Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

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