One in Ten Crypto Users Never Bought Bitcoin (BTC), Survey Reveals
Peter Zhang Sep 19, 2025 01:41
A recent CoinGecko survey highlights that 9.8% of crypto participants have never purchased Bitcoin (BTC), opting instead for altcoins or stablecoins. Explore the evolving trends in crypto investments.
A recent survey conducted by CoinGecko has unveiled intriguing insights into the behavior of cryptocurrency participants, revealing that nearly 10% have never purchased Bitcoin (BTC). This statistic highlights a growing trend among crypto enthusiasts who prefer altcoins or stablecoins over the market's flagship cryptocurrency.
Bitcoin's Declining Role as an Entry Point
The survey, which gathered responses from 2,549 participants between August 22 and September 11, 2025, found that 62.9% of respondents started their crypto journey with Bitcoin. However, this figure declines among newer entrants, with only 54.9% of newcomers beginning with BTC. In contrast, 76.5% of crypto veterans in their third cycle or beyond reported Bitcoin as their initial purchase. This shift suggests that alternative cryptocurrencies are gaining traction as entry points into the crypto space.
Methods of Acquiring Bitcoin
Among those who hold Bitcoin, 92.8% prefer purchasing it directly, with 71.8% exclusively buying spot Bitcoin. This method remains the most popular due to its accessibility for retail investors. A smaller percentage of participants, 17.6%, have Bitcoin ETF exposure, while 15.2% hold Bitcoin through treasury companies. Derivative exposure is the least common, with only 10.4% of participants using this method.
Bitcoin Storage Preferences
Regarding storage, 41.2% of Bitcoin holders keep their assets on centralized exchanges (CEXs), prioritizing convenience over security. In contrast, 53.6% prefer self-custody, using either hot or cold wallets. Cold wallets are particularly popular, with 38.1% of respondents favoring this option, while 15.5% opt for hot wallets. Additionally, 5.2% of participants hold Bitcoin through indirect means, such as ETFs or treasury companies.
Participant Demographics and Experience
The survey's demographic data indicates that 68% of respondents consider themselves long-term crypto investors, while 20% identify as traders. The remaining participants are either builders or spectators. Experience levels vary, with 38% of participants being in their first crypto cycle, 41% in their second, and 21% having over eight years in the industry. Geographically, the majority of participants hail from Europe (31%), Asia (26%), and North America (22%).
For further insights, the full survey details are available on CoinGecko.
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