Who trades cryptocurrencies, how do they trade it, and how do they perform? Evidence from brokerage accounts

Tim Hasso, Matthias Pelster, Bastian Breitmayer

Research output: Contribution to journalArticleResearchpeer-review

2 Citations (Scopus)


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.
Original languageEnglish
Pages (from-to)64-74
Number of pages11
JournalJournal of Behavioral and Experimental Finance
Early online date7 May 2019
Publication statusPublished - 1 Sep 2019


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