Overview
Do you know the real Chinese currency users?
Chinese-speaking users have always been the undisputed backbone of the encryption market. Whether they contribute active addresses and TVL, provide liquidity in the secondary market, or provide a large number of developers for the public chain ecosystem, Chinese-speaking users have always been active on the front line of encryption. Understand The investment preferences and scale of this group of people are crucial to grasping market trends, optimizing products and services, and improving user experience.
Based on this, TechFlow conducted a questionnaire survey on "Chinese Users' Crypto Investment Habits" from May 22, 2024 to June 30, 2024. In this study, questionnaires were distributed and disseminated through social media platforms, community forums, etc. A total of 2107 questionnaires were collected. After data cleaning and screening, 54 invalid questionnaires were eliminated, and 2053 valid questionnaires were finally obtained. In addition, the information collected in this study will strictly implement privacy protection measures and will only be used for the purpose of this questionnaire study.
The data analysis of this report is based on 2053 valid questionnaires, aiming to conduct an in-depth study of the behavioral characteristics and market needs of Chinese-speaking users in crypto investments. The specific analysis content is divided into the following four parts:
Part 1: Overview of the research population
Part 2: Chinese Community Market Focus
Part 3: Chinese users’ preferences for centralized exchanges
Part 4: Comprehensive and in-depth understanding of investors
Summary of highlights
The respondent group shows obvious characteristics: they are mainly male, concentrated in the age group of 26-35, and most of them have a bachelor's degree or above.
Among them, in the MBTI personality survey, IN (introverted intuitive) personality accounts for the majority. This type of personality is usually better at discovering trends, innovations and future development directions, and has a stronger strategic vision.
The most promising and invested track among respondents is Bitcoin and its ecosystem, and most respondents are optimistic that the price of Bitcoin will exceed US$100,000-150,000 and above in this cycle.
Spontaneous research and purchase are the most important factors affecting respondents' investment decisions. Twitter (X Platform) has become the most important way for respondents to obtain crypto market information and Alpha information, followed by various blockchain media.
In the survey of crypto VCs most recognized by respondents, a16z, Paradigm, and Binance Labs ranked among the top three based on nominations by respondents.
In the competition among centralized exchanges in the Chinese-speaking community, Binance has outstanding competitive advantages: in terms of frequently used exchanges, the exchanges with the largest crypto asset positions, the exchanges that make the most money, and the exchanges that are mainly involved in new developments, etc. , Binance ranked first with a proportion of over 60%. In the topic of "the most frequently used centralized exchange", the number of respondents who chose Binance reached an astonishing 96.72%, reflecting Binance's dominance in the Chinese encryption market. Strong influence and user base.
Most of the respondents (69.61%) said that regulatory factors would not affect their preference for a certain exchange, which also means that investors are gradually becoming less sensitive to the regulatory actions of various governments.
At a time when metaphysics is prevalent, 40.04% of investors surveyed said they had engaged in metaphysical behaviors such as praying to the God of Wealth for blessings.
Among the respondents’ crypto idols, Bitcoin founder Satoshi Nakamoto, Ethereum founder Vitalik Buterin, SpaceX founder Elon Musk, and Binance founder CZ became the most mentioned figures.
Exchanges are the type of Web3 company that respondents most want to work for. Most people believe that exchanges gather high-quality information resources and can gain access to some wealth codes earlier. Among centralized exchanges, Binance’s It has the highest mention rate and has become the company that respondents most want to work for.
As for whether to "run if you make enough," most of the interviewees held a negative attitude and regarded Web3 as their belief. As for the question of "how much money can you earn to live comfortably?", more than two-thirds of the respondents believe that total assets of more than 10 million are needed. A8 is a watershed in wealth.
Regarding the crypto assets that have benefited the most, Bitcoin, ETH, Solana, BNB, and PEPE have become the crypto assets mentioned most frequently by the interviewees. This also seems to reflect the characteristics of this cycle: only Beta, lack of Alpha, and a large number of altcoins. It cannot outperform mainstream coins.
Part 1: Overview of the research population
The questions in this chapter mainly cover multiple aspects, including the respondent’s gender, age, education, length of crypto investment, and personality traits. These questions are designed to gain a comprehensive understanding of basic information about our users so that we can more fully analyze the data and identify characteristics of different groups. By collecting and analyzing this basic information, we hope to draw a comprehensive portrait of the respondents, thereby providing strong support for subsequent research and market analysis.
1. Gender distribution of respondents:
In this study, we conducted a statistical analysis on the gender of the participants. The data showed that male respondents accounted for a considerable proportion, and also showed that men showed higher participation in this study.
Specifically: there were 1,562 male respondents, accounting for 76.1%, and 491 female respondents, accounting for 23.9%.
2. Age distribution of respondents:
In this questionnaire survey, we conducted detailed statistics on the age of the respondents. The data shows that the age distribution of Chinese-speaking users in the field of cryptocurrency investment has a clear concentration trend. Younger groups have shown higher enthusiasm for participation in this study. .
Specifically: Respondents aged 26-35 accounted for the highest proportion, reaching 57.42%, followed by respondents aged 18-25, accounting for 25.11%, and respondents aged 36-45 accounted for 14.19% . It is worth noting that the proportion of respondents aged 18-45 is 96.72%.
Respondents aged 46-55 accounted for 2.46%, while users aged 55 and over accounted for only 0.45%. This shows that users become less involved in cryptocurrency investing as they age.
In addition, users under the age of 18 account for only 0.36%. This group of users has extremely low participation in the cryptocurrency market because they are still minors and have limited financial independence and investment capabilities.
3. When did the respondent conduct crypto transactions:
In this questionnaire survey, we conducted detailed statistics on the time the respondents have been conducting crypto transactions. The data shows that Chinese-speaking users have a relatively balanced distribution of experience in the field of crypto trading experience, which provides a solid and diverse user base for the crypto market. , conducive to the long-term development of the market.
Specifically: Respondents with 3-5 years of crypto trading experience accounted for the highest proportion, reaching 34.67%, followed by respondents with 1-3 years of crypto trading experience, accounting for 30.94%, and 5-8 years of crypto trading experience. The proportion of users with trading experience is 21.29%. Notably, 86.9% of respondents had 1-8 years of crypto trading experience.
Additionally, the percentage of respondents with 0-1 years of crypto trading experience was 6.92%, while the percentage of respondents with more than 8 years of crypto trading experience was 6.19%. This phenomenon of new users entering the market and old users sticking around reflects the dynamics and vitality of the market.
4. Whether the respondent is a full-time currency speculator:
In this questionnaire survey, we conducted detailed statistics on whether the respondents are full-time currency traders. The data shows that there are significant differences in the degree of participation and investment of Chinese-speaking users in this field.
Specifically: the proportion of respondents who speculate in currencies full-time is 25.11%. That is, a quarter of the respondents regard cryptocurrency investment as their main occupation and source of income.
In addition, the proportion of users who are not full-time currency traders is as high as 74.89%, which means that most respondents regard cryptocurrency investment as a side job or hobby, rather than the main career direction, and most users regard it as part of their asset allocation. .
This difference in participation models reflects the diversity and flexibility of the crypto trading market: full-time currency speculators are able to focus on market changes and adjust strategies at any time, while part-time users are able to combine crypto investing with other career development and maintain Certain risk control.
5. Whether the respondent is a person working in the encryption industry:
In this questionnaire survey, we conducted detailed statistics on whether the respondents are practitioners in the encryption industry. The data shows that the career background of the respondents in the encryption field is relatively balanced.
Specifically: 49.14% of the respondents are crypto industry practitioners, which means that nearly half of the respondents are deeply involved in the crypto industry. Another 50.86% of the respondents are not practitioners in the encryption industry, but play the role of investors or enthusiasts, paying attention to the investment opportunities and market dynamics of cryptocurrency.
This balanced distribution of professional backgrounds reflects the diversity and inclusiveness of the crypto market: both practitioners and non-practitioners contribute to the market’s ecosystem in their respective roles.
6. Respondent’s education:
In this questionnaire study, we conducted detailed statistics on the educational background of the respondents. The data shows that the educational level of the respondents is generally high, and most of the respondents have certain professional knowledge and analytical capabilities.
Specifically: respondents with a college degree accounted for the vast majority, accounting for 58.60%, respondents with a master's degree accounted for 21.20%, and respondents with a doctoral degree accounted for 1.91%, indicating that there are A considerable number of respondents have higher academic background and research capabilities, which provides support for rational decision-making on crypto investments.
In addition, 17.83% of respondents have a college degree or below, and 0.45% have other education backgrounds. They also bring richer cognitive perspectives to the encryption industry to varying degrees.
7. Respondent’s MBTI:
In this questionnaire study, we conducted detailed statistics on the MBTI personality types of the respondents. MBTI is a widely used psychological testing tool that can help people understand their personality traits and behavioral tendencies.
36.76% of respondents did not know their MBTI type. This shows that despite the popularity of MBTI within the crypto industry, there are still a considerable number of users who have not yet conducted relevant self-assessments.
Among respondents with known MBTI types, INFJ (9.37%), INTJ (8.10%) and INFP (7.83%) accounted for a higher proportion. All three types are introverted intuitive personalities and are generally considered to have strong innovative thinking, strategic planning, and empathy.
In addition, extroverted intuitive personalities such as ENTJ (6.82%), ENTP (5.37%) and ENFJ (5.46%) also account for a large proportion. These three personality types are typically good at leadership, communication, and decision-making.
In comparison, the proportion of sensing and judging personalities is relatively low. For example, ESFJ (0.91%), ESFP (0.82%), ESTJ (1.27%), ESTP (1.27%), ISFJ (1.00%), and ISTJ (0.82%) are all around 1%.
8. Proportion of respondents’ crypto assets:
In this questionnaire survey, we conducted detailed statistics on the current crypto asset allocation of the respondents. The data shows that the respondents’ investment proportion in crypto assets shows a relatively balanced distribution, which reflects the respondents’ investment in the crypto market. different risk management awareness.
Specifically: 22.29% of the respondents controlled the proportion of crypto assets between 0% and 25%; 28.30% of the respondents controlled the proportion of crypto assets between 26% and 50%; 27.48% of the respondents controlled the proportion of crypto assets between 26% and 50%. Respondents control the proportion of crypto assets between 51% and 75%; 21.93% of respondents control the proportion of crypto assets between 76% and 100%.
The proportions of the four intervals are relatively close, which reflects the different preferences and risk tolerance of different users for cryptocurrency investment. About half of the respondents (50.59%) control the allocation ratio of crypto assets below 50%, showing their cautious attitude towards risks; while the other half of the respondents (49.41%) set the allocation ratio of crypto assets to Above 50%, showing their confidence in the cryptocurrency market and higher risk tolerance.
Part 2: Chinese Community Market Focus
Fast pace has always been a distinguishing feature of the crypto market. We are already halfway through 2024. In this half year, we have witnessed the successive rise of many popular narratives such as Inscription, Artificial Intelligence (AI), MEME, and BTCFi. The market environment is changing rapidly, and investors' focus is constantly shifting. In-depth understanding of multiple dimensions of information such as the tracks that users care about, the bronze mirror of information removal, and market confidence can not only provide us with valuable market insights, but also help us make more forward-looking predictions based on the user's perspective. Thus responding to user demands more efficiently.
1. Tracks that interviewees are concerned about:
In this questionnaire survey, we conducted detailed statistics on the encryption tracks that respondents are currently paying attention to. This question is a multiple-choice question. Each respondent needs to choose three options of interest. The proportion of each option is as follows:
In general, Bitcoin and its ecology are the most optimistic, with 65.24% of respondents choosing this option. The popularity of the Bitcoin ecology is also obvious to all. With the promotion of full name inscriptions, Bitcoin Layer 2 solutions With the continuous development of BTCFi and the rise of BTCFi, the Bitcoin ecosystem is undergoing rapid and profound changes, attracting the attention of a large number of investors and developers.
There is not much difference between the 2nd and 5th places, which are Ethereum and its ecology (L2, LSD, etc.), MEME, Solana and its ecology and AI concept.
2. Factors affecting respondents’ investment decisions:
In this questionnaire study, we conducted detailed statistics on the factors that currently affect the investment decisions of the respondents. This question is a multiple-choice question. Each respondent is free to choose multiple options. The proportion of each option is as follows:
In general, voluntary research and purchase are the most important factors affecting the investment decisions of the respondents, with 77.71% of the respondents choosing this option. In the context of continuous diversification of information channels, investors are more able to conduct in-depth research. Fundamentals and technical details of the project to make more rational investment choices.
Secondly, the ecological support of leading exchanges also accounts for a large proportion. Leading exchanges usually have rich industry resources and a broad user base. Investors value the exposure opportunities and resource feedback provided by exchanges for new projects.
In addition, the influence of recommendations from friends or group friends, KOL recommendations, and VC endorsements ranked third, fourth, and fifth respectively.
3. Respondents’ predictions for Bitcoin price in this cycle:
In this questionnaire survey, we conducted detailed statistics on the respondents’ expectations for the highest price of Bitcoin in this cycle. The data shows that there is a clear concentration trend in the respondents’ expectations for the price of Bitcoin.
Specifically: 59.51% of the respondents believe that the highest price of Bitcoin in this cycle will be between 100,000 and 150,000 US dollars, which shows that most people have a relatively optimistic but cautious attitude towards the future trend of Bitcoin; 22.20 % of the respondents believe that the maximum price of Bitcoin will be less than 100,000 US dollars. This part of the respondents may have a more conservative view on the risk and volatility of the market.
In addition, 12.37% of the respondents believe that the highest price of Bitcoin will be between 1.50 and 200,000 US dollars, and 5.91% of the respondents believe that the highest price of Bitcoin will exceed 200,000 US dollars. This part of the respondents is optimistic about Bitcoin. Future gains are based on a more optimistic view that Bitcoin has the potential to reach new all-time highs during this cycle.
4. How respondents obtain crypto market information and Alpha information:
In this questionnaire survey, we conducted detailed statistics on the current ways in which respondents obtain encryption market information and Alpha information. This question is a multiple-choice question. Each respondent is free to choose multiple options. The proportion of each option is as follows:
In general, Twitter (X platform) is the main way for respondents to obtain crypto market information and Alpha information, with 87.17% of respondents choosing this option, followed by blockchain media apps and web pages. It also occupies a larger proportion.
In addition, social channels such as WeChat groups, Telegram communities and Discord communities also occupy important positions, ranking third, fourth and fifth respectively.
5. Crypto VC most recognized by respondents:
In this questionnaire survey, we collected data on the crypto VCs that are most/least recognized by the current respondents. This question is optional. Interested respondents can fill in and submit it based on the mention of each VC in the feedback. Frequency, we created a word cloud display.
Crypto VCs most recognized by respondents – word cloud display:
According to the word cloud display, we can observe that established crypto VCs such as a16z, Paradigm, Binance Labs, and Coinbase Ventures are mentioned more frequently.
6. The Chinese crypto KOL most recognized by respondents:
In this questionnaire survey, we collected data on the crypto KOLs most recognized by current respondents. This question is optional. Interested respondents can fill in and submit. Based on the frequency of mention of each KOL in the feedback, we created word cloud display.
Crypto KOLs most recognized by respondents – word cloud display:
7. Respondents believe that the “referring KOLs” mainly include:
It is undeniable that approval/disapproval is more of a subjective tendency, and survey results are also affected by communication channels. Everyone has their own standards, so just smile happily.
8. Cryptocurrencies where respondents gained the most:
In this questionnaire, we collected data on the cryptocurrencies that have gained the most benefit from current respondents. This question is optional. Interested respondents can fill in and submit it based on the frequency of mention of each cryptocurrency in the feedback. , we created a word cloud display.
According to the results obtained, Bitcoin, ETH, Solana, BNB, and PEPE have become the crypto assets mentioned most by the respondents. This also reflects the hot spots of this cycle, and a large number of altcoins have not performed as well as mainstream currencies.
Cryptocurrencies where respondents gained the most - word cloud showing:
Part 3: Chinese users’ preferences for centralized exchanges
As the main platform for trading, exchanges have always played a vital role in the crypto market. In particular, centralized exchanges (CEX) have become the first entry point for most users to enter the crypto market due to their user-friendly interface and high liquidity. Understanding users’ preferences, service feedback, and functional requirements for centralized exchanges can better identify the pain points and needs users encounter during the transaction process, and continuously promote the establishment of more comprehensive, more efficient, and safer trading services. .
1. Centralized exchanges used more frequently by respondents:
In this questionnaire survey, we conducted detailed statistics on the centralized exchanges used by the respondents at a higher level. This question is a multiple-choice question. Each respondent needs to choose three centralized exchange options. Each option accounts for Down:
Overall, Binance is the most frequently used centralized exchange among respondents, with a staggering 96.72% of respondents choosing this option. This reflects Binance’s strong presence and user base in the Chinese-speaking crypto market. As one of the world's largest digital asset trading platforms, Binance provides a wealth of trading pairs, low fees, and diversified financial products, and is considered the preferred platform for investors to enter and participate in the crypto market.
Followed closely by OKX. Although the number of respondents who chose the OKX option was 13.19% lower than Binance, it still reached 83.53%. It is also one of the exchanges chosen by users in the Chinese community.
In addition to the two leading exchanges, Gate.io and Bitget also performed well relative to other exchanges.
2. In which exchange the respondent’s largest crypto asset position is stored:
In this questionnaire survey, we conducted detailed statistics on which exchange the respondents’ largest crypto asset positions are stored. This choice is aimed at understanding the respondents’ trust in the security and market recognition of the exchange, and the data statistics also show obvious central tendency.
Specifically, Binance performed the most prominently, with 63.15% of respondents depositing their largest positions here, which shows that Binance has a very high market share and trust among users and has accumulated a considerable number of loyal users.
Secondly, OKX is also the exchange chosen by more respondents, with 25.30% of respondents storing their largest positions here.
In addition, other exchanges such as Gate.io, Bitget, Bybit, etc. account for a relatively small proportion of users, but still have their own specific user groups.
3. The exchange where respondents make the most money:
In this survey, we conducted detailed statistics on the exchanges where the respondents made the most money. This option was designed to understand the profitability of the exchanges for the respondents. The data also showed a clear concentration trend.
Specifically, Binance is the exchange where respondents make the most money, with 60.69% of respondents making the most money here, demonstrating that Binance not only dominates the market share but also offers significant profit opportunities to its users.
OKX ranked second, with 24.11% of respondents earning the highest returns here. The performance of other exchanges in terms of user income is relatively weak: exchanges such as Gate.io, Bitget, Bybit, HTX, kucoin and Mexc have relatively low shares, accounting for 4.91%, 3.91%, 1.00%, 1.46%, 0.36% and 0.36% respectively. 0.55%.
4. Respondent’s main operations on the exchange:
In this questionnaire survey, we conducted detailed statistics on the main operations of the respondents on the exchange, specifically:
The "Only spot, no contracts" option accounts for 44.40%, showing that nearly half of users prefer a stable investment strategy, focusing on the spot market and avoiding high-risk derivatives transactions.
The proportion of the "Mainly spot, a small amount of contracts" option is 38.49%, which shows that there are still a large number of users who hope to obtain additional income through contract transactions on the basis of maintaining a sound investment.
The "most contracts, a small amount of spot" option accounts for 10.28%, preferring a high-risk, high-yield trading model.
The "Rarely do transactions, prefer financial management and other stable income" option accounted for 6.82%, which is more inclined to conservative investment strategies.
Overall, spot trading is still the main mode of operation for most users, accounting for more than 80% (including the first two options), which shows that a considerable number of users pay more attention to stable returns and are less involved in high-risk contract transactions.
5. Whether the respondent uses crypto financial services provided by centralized exchanges:
In this survey, we conducted detailed statistics on whether respondents use crypto financial services provided by centralized exchanges. Specifically:
47.95% of the respondents chose: No, I don’t see this benefit. This shows that nearly half of the respondents believe that the exchange’s financial services benefits are not enough to attract them to participate.
32.12% of the respondents chose: Don’t know much about it and will pay attention to it in the future. This group of users currently knows little about financial management services, but may pay attention to and try to use them in the future. Exchanges can attract these users by strengthening publicity and education.
19.93% of the respondents said: Yes, they receive salary every day. This group of users is already using the exchange's financial management services and earning passive income by receiving income every day.
6. Exchange marketing activities in which interviewees participated:
In this questionnaire survey, we conducted detailed statistics on the exchange marketing activities that the respondents participated in. This question is a multiple-choice question. Each respondent can choose multiple options freely. The proportion of each option is as follows:
Overall, the distribution of exchange marketing activities in which respondents participated was relatively even.
The listing/new listing option accounted for the highest proportion, with 57.53% of respondents choosing this option. This reflects that many users are highly concerned about emerging projects, are willing to actively participate in newly listed crypto assets and investment opportunities, and want to be transparent. Earn potential benefits by participating in early-stage projects.
Mining activities and airdrop activities are closely followed. It is worth mentioning that the data of the two options of mining activities and airdrop activities are very close, with a penetration rate of only 0.18%. In addition, sign-up and referral reward options also have a higher proportion, while other exchange marketing methods have a lower proportion.
Some respondents also said they never participate in any activities, with 16.01% of respondents choosing this option.
7. Respondent’s new exchange participation:
In this survey, we conducted detailed statistics on the respondents’ participation in new exchanges:
68.24% of respondents chose Binance’s Launchpad platform. This shows that Binance’s Launchpad has an absolute leading position in the issuance of new projects and has become the preferred exchange for most users to participate in new projects.
14.74% of the respondents chose OKX’s Jumpstart platform. Although there is a big gap between it and Binance, it still has a slight advantage over other exchanges. Other exchanges each have a smaller market share.
8. Respondents’ preferred exchange listing styles:
In this survey, we conducted detailed statistics on the exchange listing styles preferred by the respondents:
36.94% of the respondents like: Actively list high-quality new coins. Without new assets, there will be no wealth effect. This group of users hopes that the exchange can proactively discover and list high-quality new projects to meet users' investment needs for emerging assets.
25.30% of the respondents like: No matter what style, just let me make money. This group of users is more concerned about profit results and less concerned about specific exchange listing strategies.
25.20% of the respondents like: Just like the bear market, maintain restraint, do less but be more precise, and just invest in a few high-quality assets. This group of users pays more attention to the quality of assets rather than the growth of quantity.
12.56% of the respondents like: actively listing popular community currencies (such as MEME), the public likes it, and the exchange can earn more handling fees. This group of users hopes that the exchange can proactively capture market hot spots and achieve a win-win situation between users and the exchange.
9. Respondents’ sentiments on exchange regulation:
In this survey, we conducted detailed statistics on the respondents’ sentiments on exchange regulation:
Most of the respondents (69.61%) said that regulatory factors would not affect their preference for a certain exchange, which also means that investors are gradually becoming less sensitive to the regulatory actions of various governments.
25.75% of the respondents are cautious about regulation and are mainly worried about short-term market fluctuations.
Only 4.64% of the respondents have great fear and distrust in supervision, and tend to withdraw their currency immediately.
Part 4: Comprehensive and in-depth understanding of investors
In addition to basic information such as gender, age, education, etc., this research also aims to enter a more real and vivid Chinese encryption user community by collecting and analyzing the respondents’ market anxiety, encryption idols, and opinions on Web3 Information on dimensions such as beliefs and considerations of leaving the circle and lying flat provides more industry participants with a richer and three-dimensional perspective, and more deeply presents the diversity and complexity of the Chinese-speaking community.
1. Respondents’ anxiety about the current market environment:
In this questionnaire study, we conducted detailed statistics on the respondents’ anxiety about the current market environment:
Respondents with general anxiety accounted for 52.32%, showing that more than half of users have a certain degree of anxiety in the current market environment, but this anxiety is still within a controllable range and has not seriously affected their daily lives.
40.95% of the respondents are not anxious at all. This group of users shows strong psychological endurance and market adaptability.
6.73% of the respondents were too anxious to sleep, which is a relatively small proportion of respondents.
Overall, the current market environment does bring varying degrees of anxiety to most users, but anxiety is generally controllable.
2. Respondents’ anxiety factors:
In this questionnaire study, we conducted detailed statistics on the anxiety factors of the respondents:
51.50% of the respondents said that "when they are in vain, only to find that their friends in the group are making a lot of money" will make them more anxious. This suggests that most users are more susceptible to “relative gains,” and this psychological tendency toward social comparison may exacerbate their anxiety.
48.50% of the respondents said that "losing money" would make them more anxious. This group of users is more concerned about their own "absolute returns" and is more sensitive to their own losses.
3. Respondents’ metaphysical tendencies:
In this questionnaire study, we conducted detailed statistics on the metaphysical tendencies of the respondents:
59.96% of the respondents have not engaged in superstitious or metaphysical behaviors; 40.04% of the respondents said they have prayed to the God of Wealth for blessing.
This difference reflects the psychological and behavioral characteristics of different investors in response to market uncertainty. Some users prefer rational analysis and objective judgment, while others may rely on superstitious or metaphysical behaviors.
4. Interviewee’s crypto idol:
In this questionnaire study, we collected information on the current respondents’ crypto idols. This question is optional. Interested respondents can fill in and submit it. Based on the frequency of mentions, we created a word cloud display.
5. The Web3 company that respondents most want to work for and the reasons:
In this questionnaire survey, we collected data on the Web3 companies that current respondents most want to work for. This question is optional. Interested respondents can fill in and submit. Based on the frequency of mention of each company in the feedback, we A word cloud display was created.
Among the feedback collected, exchanges are the type of company that respondents most want to work for. Most people believe that exchanges gather high-quality information resources and can gain access to some wealth codes earlier. Among the exchanges, Binance has the highest mention rate. The reasons why respondents said they want to join Binance include but are not limited to: high salary at the leading exchange; early opportunities to make money; top-notch Chinese; and want to work with a sister. ;The peripheral products are very nice and so on. Secondly, OKX, as another mainstream Chinese-speaking exchange, was also mentioned more frequently. Many interviewees expressed their affirmation of OKX's product experience, information aggregation, etc., and believed that OKX has more recruitment opportunities for Chinese people.
In addition to exchanges, VC and crypto media are the other two types of companies that the interviewees want to join. Most of them believe that: VC can grasp the hot spots in the primary market and have access to a large number of outstanding developers and industry innovators; and The media can have access to the most cutting-edge information, and working in the media can also cultivate rigorous, scientific, and systematic project research methods and produce high-quality content.
It is worth mentioning that, perhaps because of the atmosphere of distributed offices in the Web3 industry and the fact that most of the interviewees are not full-time currency speculators, many interviewees also gave feedback that they did not want to work, started their own business, or became a KOL to monetize their knowledge, etc. Interesting perspective.
6. Respondents’ cryptocurrency holdings:
In this survey, we conducted detailed statistics on the amount of cryptocurrency holdings of the respondents: the option with the highest proportion is US$10,000-50,000, accounting for 20.93%, followed by US$100,000-500,000. From US$50,000 to US$100,000, the three accounted for 57.32%...
The option with the lowest proportion is 500,000-1 million USDT. Overall, the respondents' cryptocurrency holdings are widely distributed, ranging from small investors to large-scale fund holders.
7. Considerations for interviewees to withdraw from the circle:
In this questionnaire survey, we conducted detailed statistics on the respondents’ considerations about leaving the circle:
Overall, the majority of respondents (66.52%) have not considered exiting. They have strong belief and confidence in Web3 and tend to regard Web3 as a long-term investment and career development direction.
However, 33.48% of the respondents said they have considered quitting. These users may pay more attention to profits and will consider quitting once the target profits are reached.
This difference reflects the psychological and behavioral characteristics of different investors when facing uncertainty in the Web3 market. Some users are confident and idealistic about Web3, while others are more focused on short-term gains and pragmatic considerations.
8. Respondents’ expectations:
In this survey, we conducted detailed statistics on how much money the respondents earned before considering settling down:
Among all options, the A8 (representing total assets of more than 10 million) accounted for the highest proportion, at 34.94%; the A6.5 (representing total assets of more than 500,000) accounted for the lowest, at 1.55%.
In general, the interviewees have large differences in the target amount of total assets required to "lay flat", ranging from 100,000 to 10 billion. However, more than one-third of the respondents (39.22%) believe that total assets of more than 100 million are needed, and more than two-thirds of the respondents (74.16%) believe that total assets of more than 10 million are needed before they can consider lying down. This reflects that most users have a higher pursuit of financial freedom and quality of life.
This article A large survey of the Chinese crypto market: From trading habits, MBTI to popular tracks, restoring the true Chinese crypto community first appeared on Chain News ABMedia.
