---
_id: '10103'
abstract:
- lang: eng
  text: 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.
article_type: original
author:
- first_name: Tim
  full_name: Hasso, Tim
  last_name: Hasso
- first_name: Matthias
  full_name: Pelster, Matthias
  id: '67265'
  last_name: Pelster
  orcid: ' https://orcid.org/0000-0001-5740-2420'
- first_name: Bastian
  full_name: Breitmayer, Bastian
  last_name: Breitmayer
citation:
  ama: Hasso T, Pelster M, Breitmayer B. Who trades cryptocurrencies, how do they
    trade it, and how do they perform? Evidence from brokerage accounts. <i>Journal
    of Behavioral and Experimental Finance</i>. 2019;23:64-74. doi:<a href="https://doi.org/10.1016/j.jbef.2019.04.009">10.1016/j.jbef.2019.04.009</a>
  apa: Hasso, T., Pelster, M., &#38; Breitmayer, B. (2019). Who trades cryptocurrencies,
    how do they trade it, and how do they perform? Evidence from brokerage accounts.
    <i>Journal of Behavioral and Experimental Finance</i>, <i>23</i>, 64–74. <a href="https://doi.org/10.1016/j.jbef.2019.04.009">https://doi.org/10.1016/j.jbef.2019.04.009</a>
  bibtex: '@article{Hasso_Pelster_Breitmayer_2019, title={Who trades cryptocurrencies,
    how do they trade it, and how do they perform? Evidence from brokerage accounts},
    volume={23}, DOI={<a href="https://doi.org/10.1016/j.jbef.2019.04.009">10.1016/j.jbef.2019.04.009</a>},
    journal={Journal of Behavioral and Experimental Finance}, publisher={Elsevier},
    author={Hasso, Tim and Pelster, Matthias and Breitmayer, Bastian}, year={2019},
    pages={64–74} }'
  chicago: 'Hasso, Tim, Matthias Pelster, and Bastian Breitmayer. “Who Trades Cryptocurrencies,
    How Do They Trade It, and How Do They Perform? Evidence from Brokerage Accounts.”
    <i>Journal of Behavioral and Experimental Finance</i> 23 (2019): 64–74. <a href="https://doi.org/10.1016/j.jbef.2019.04.009">https://doi.org/10.1016/j.jbef.2019.04.009</a>.'
  ieee: T. Hasso, M. Pelster, and B. Breitmayer, “Who trades cryptocurrencies, how
    do they trade it, and how do they perform? Evidence from brokerage accounts,”
    <i>Journal of Behavioral and Experimental Finance</i>, vol. 23, pp. 64–74, 2019.
  mla: Hasso, Tim, et al. “Who Trades Cryptocurrencies, How Do They Trade It, and
    How Do They Perform? Evidence from Brokerage Accounts.” <i>Journal of Behavioral
    and Experimental Finance</i>, vol. 23, Elsevier, 2019, pp. 64–74, doi:<a href="https://doi.org/10.1016/j.jbef.2019.04.009">10.1016/j.jbef.2019.04.009</a>.
  short: T. Hasso, M. Pelster, B. Breitmayer, Journal of Behavioral and Experimental
    Finance 23 (2019) 64–74.
date_created: 2019-06-04T07:01:34Z
date_updated: 2022-01-06T06:50:29Z
department:
- _id: '186'
- _id: '578'
doi: 10.1016/j.jbef.2019.04.009
intvolume: '        23'
jel:
- G11
keyword:
- Cryptocurrencies Bitcoin Trading Investor returns Demographics
language:
- iso: eng
page: 64-74
publication: Journal of Behavioral and Experimental Finance
publication_status: published
publisher: Elsevier
status: public
title: Who trades cryptocurrencies, how do they trade it, and how do they perform?
  Evidence from brokerage accounts
type: journal_article
user_id: '21810'
volume: 23
year: '2019'
...
---
_id: '10279'
abstract:
- lang: eng
  text: 'Are cryptocurrency traders driven by a desire to invest in a new asset class
    to diversify their portfolio or are they merely seeking to increase their levels
    of risk? To answer this question, we use individual-level brokerage data and study
    their behavior in stock trading around the time they engage in their first cryptocurrency
    trade. We find that when engaging in cryptocurrency trading investors simultaneously
    increase their risk-seeking behavior in stock trading as they increase their trading
    intensity and use of leverage. The increase in risk-seeking in stocks is particularly
    pronounced when volatility in cryptocurrency returns is low, suggesting that their
    overall behavior is driven by excitement-seeking. '
article_type: original
author:
- first_name: Matthias
  full_name: Pelster, Matthias
  id: '67265'
  last_name: Pelster
  orcid: ' https://orcid.org/0000-0001-5740-2420'
- first_name: Bastian
  full_name: Breitmayer, Bastian
  last_name: Breitmayer
- first_name: Tim
  full_name: Hasso, Tim
  last_name: Hasso
citation:
  ama: Pelster M, Breitmayer B, Hasso T. Are cryptocurrency traders pioneers or just
    risk-seekers? evidence from brokerage accounts. <i>Economics Letters</i>. 2019;182:98-100.
    doi:<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>
  apa: Pelster, M., Breitmayer, B., &#38; Hasso, T. (2019). Are cryptocurrency traders
    pioneers or just risk-seekers? evidence from brokerage accounts. <i>Economics
    Letters</i>, <i>182</i>, 98–100. <a href="https://doi.org/10.1016/j.econlet.2019.06.013">https://doi.org/10.1016/j.econlet.2019.06.013</a>
  bibtex: '@article{Pelster_Breitmayer_Hasso_2019, title={Are cryptocurrency traders
    pioneers or just risk-seekers? evidence from brokerage accounts}, volume={182},
    DOI={<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>},
    journal={Economics Letters}, author={Pelster, Matthias and Breitmayer, Bastian
    and Hasso, Tim}, year={2019}, pages={98–100} }'
  chicago: 'Pelster, Matthias, Bastian Breitmayer, and Tim Hasso. “Are Cryptocurrency
    Traders Pioneers or Just Risk-Seekers? Evidence from Brokerage Accounts.” <i>Economics
    Letters</i> 182 (2019): 98–100. <a href="https://doi.org/10.1016/j.econlet.2019.06.013">https://doi.org/10.1016/j.econlet.2019.06.013</a>.'
  ieee: M. Pelster, B. Breitmayer, and T. Hasso, “Are cryptocurrency traders pioneers
    or just risk-seekers? evidence from brokerage accounts,” <i>Economics Letters</i>,
    vol. 182, pp. 98–100, 2019.
  mla: Pelster, Matthias, et al. “Are Cryptocurrency Traders Pioneers or Just Risk-Seekers?
    Evidence from Brokerage Accounts.” <i>Economics Letters</i>, vol. 182, 2019, pp.
    98–100, doi:<a href="https://doi.org/10.1016/j.econlet.2019.06.013">10.1016/j.econlet.2019.06.013</a>.
  short: M. Pelster, B. Breitmayer, T. Hasso, Economics Letters 182 (2019) 98–100.
date_created: 2019-06-19T19:00:44Z
date_updated: 2022-01-06T06:50:33Z
department:
- _id: '186'
- _id: '578'
doi: 10.1016/j.econlet.2019.06.013
intvolume: '       182'
jel:
- D1
- G1
keyword:
- cryptocurrencies
- bitcoin
- investor
- risk-seeking
language:
- iso: eng
page: 98-100
publication: Economics Letters
publication_identifier:
  issn:
  - 0165-1765
publication_status: published
status: public
title: Are cryptocurrency traders pioneers or just risk-seekers? evidence from brokerage
  accounts
type: journal_article
user_id: '21810'
volume: 182
year: '2019'
...