You were probably expecting your average Bitcoin user to be male (and into tech). You won’t get any prizes for getting those facts right.
But, according to new research, it turns out that Bitcoin users are also passionate about their food as well.
Your average Bitcoin user is an ‘overachieving, millennial foodie’
Collaborative financial platform 2gether allows its users to buy, sell, and spend cryptocurrencies using a prepaid Visa card.
The company conducted research from a sample of more than 10,000 users from 19 countries in the EU to obtain a general profile of them.
Beyond the gender and the tech knowledge, 2gether found that the average Bitcoin user is also an “overachieving, millennial foodie”. The research showed that everyday crypto users are also highly educated.
The 2gether card allows users to spend in both crypto and euros. The company found that the average user spends some 37% in crypto and 63% in euros.
On average, 2gether's users spend €112,56 in #crypto a month. Those crypto expenses amount to 37% of the total expenses done with the 2gether card.
— 2gether (@2gether_global) January 20, 2020
2gether gives an example of the average Bitcoin user, whom they call “Umberto”. He’s a 35-year-old male with a demanding career living in an urban centre – in their example, Milan.
To escape the pressure of his work, he enjoys dining out at fine restaurants or creating culinary delights at home. 2gether says, “Umberto represents the ultimate crypto user heading into 2020.”
The defining characteristics of the crypto user in 2020
In 2020, three main characteristics accentuate your average crypto user. First of all, he’s a millennial male. The majority of crypto spenders are between 26 and 45 years old.
77% of 2gether's users are men. This reflects a reality of the #crypto world: the average crypto user is a middle-aged male with an advanced academic background.
— 2gether (@2gether_global) January 18, 2020
Secondly, he is an overachiever likely to be in a high-profile profession, such as a lawyer, economist, or accountant. This is quickly followed by students (presumably studying one of the aforementioned careers).
#Data shows that many crypto users have jobs that require a higher academic level, emphasizing lawyers, accountants and economists, followed by students.
— 2gether (@2gether_global) January 19, 2020
Finally, he’s really, really into food, spending most of his cryptocurrency in restaurants or in the supermarket.
More about 2gether
2gether offers its user base a prepaid Visa card. They can load it up with cryptocurrency and spend it in euros either through an ATM or in a card transaction, just like regular fiat.
The Madrid-based company hopes to “further drive cryptocurrency into the mainstream” with what it calls its “secure and private” transactions.
However, pertaining to the EU, 2gether is certainly subject to the same AMLD5 laws that bind other cryptocurrency and fintech businesses.
2gether’s most used coin for payments is Bitcoin (BTC). This is closely followed by Ether (ETH). However, there are currently 13 cryptocurrencies integrated with the platform, including Bitcoin Cash (BCH), Dash (DASH), Litecoin (LTC), and Ripple (XRP).
CEO Ramon Ferraz commented, “It is extremely beneficial for us at 2gether to know exactly who our customer is and how they change every year.”
He continued, “Our goal is to enable the mass adoption of cryptocurrency and enable users to spend crypto in their everyday life, and this data we’ve compiled takes us one step closer to making our goal a reality in 2020.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.