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

See all articles by Tim Hasso

Tim Hasso

Bond University - Bond Business School

Matthias Pelster

Paderborn University

Bastian Breitmayer

Leuphana University of Lueneburg

Date Written: May 12, 2019

Abstract

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

Hasso, Tim and Pelster, Matthias and Breitmayer, Bastian, Who Trades Cryptocurrencies, How Do They Trade It, and How Do They Perform? Evidence from Brokerage Accounts (May 12, 2019). 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. Available at SSRN: https://ssrn.com/abstract=3386901

Tim Hasso (Contact Author)

Bond University - Bond Business School ( email )

Gold Coast
Australia

Matthias Pelster

Paderborn University ( email )

Warburger Str. 100
Paderborn, 33098
Germany

Bastian Breitmayer

Leuphana University of Lueneburg ( email )

Scharnhorststraße 1
Wilschenbrucher Weg 69
Lüneburg, 21335
Germany

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