Who Trades Cryptocurrencies, How Do They Trade It, and How Do They Perform? Evidence from Brokerage Accounts
Hasso, T., Pelster, M., & Breitmayer, B. (2019). Who Trades Cryptocurrencies, How Do they Trade It, and How Do they Perform? Evidence from Brokerage Accounts. Journal of Behavioral and Experimental Finance. DOI: 10.1016/j.jbef.2019.04.009
22 Pages Posted: 24 May 2019
Date Written: May 12, 2019
We investigate the demographic characteristics, trading patterns, and performance of 465.926 brokerage accounts with respect to cryptocurrency trading. We find that cryptocurrency trading became increasingly popular across individuals of all different groups of age, gender, and trading patterns. Yet, men are more likely to engage in cryptocurrency trading, trade more frequently, and more speculative, respectively. As a result, men realize lower returns. Furthermore, we find that investors vary their trading patterns across different asset classes.
Keywords: cryptocurrencies, bitcoin, trading, investor returns, demographics
JEL Classification: G11, G40
Suggested Citation: Suggested Citation