Study: Coinbase users buy altcoins after buying Bitcoin

by in Cryptocurrency News

Coinbase users altcoin

Most of the Coinbase exchange users who buy bitcoin diversify their portfolio with altcoins. This is evidenced by a study conducted by the company.

According to these data, 60% of new Coinbase users buy bitcoin as their first asset. 24% of investors continue to store or buy only BTC, while 36% start buying other crypto coins.

In total, more than 75% of users buy altcoins. The exchange partly associates this with the constant expansion of the list of supported assets, but to a large extent with the peculiarities of investor behavior.

Related: The study revealed 43% of Bitcoin investors are women

The study says that the peak in altcoin trading volumes is during periods of increased volatility. For the first time, the exchange noticed this on the bull market in 2017, when the trading volumes of ETH and LTC grew by 70%.

Since then, investor behavior has not changed. In January 2020, high volatility led to the largest increase in altcoin trade since 2017.

Despite these results, the exchange still considers Bitcoin to be the dominant asset.