TY - JOUR AB - 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. AU - Hasso, Tim AU - Pelster, Matthias AU - Breitmayer, Bastian ID - 10103 JF - Journal of Behavioral and Experimental Finance KW - Cryptocurrencies Bitcoin Trading Investor returns Demographics TI - Who trades cryptocurrencies, how do they trade it, and how do they perform? Evidence from brokerage accounts VL - 23 ER - TY - JOUR AB - 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. AU - Pelster, Matthias AU - Breitmayer, Bastian AU - Hasso, Tim ID - 10279 JF - Economics Letters KW - cryptocurrencies KW - bitcoin KW - investor KW - risk-seeking SN - 0165-1765 TI - Are cryptocurrency traders pioneers or just risk-seekers? evidence from brokerage accounts VL - 182 ER -