A recent Overbit survey revealed that professional traders prefer to hold their funds in USDT rather than bitcoin.
The survey, carried out in the last two weeks of March, involved over 2,500 cryptocurrency traders from 90 countries on Overbit.com, one of the leading crypto derivatives trading platforms.
On Overbit it is possible to trade with cryptocurrencies, forex and commodities, using bitcoin and without having to hold the assets.
Questions to traders were aimed at determining their background, preferences and behavioural patterns and, among other things, it turned out that overall traders prefer using bitcoin for operations, but prefer Tether for holding.
By the way, Overbit only recently added the USDT deposit option, whereas before it only allowed bitcoin.
This new option has become the preferred option for more professional and advanced traders in order to reduce volatility risks, whereas others continue to prefer BTC.
With regard to background, the survey found a majority of traders between the ages of 35 and 44, with as many as 73% having at least one year of experience in cryptocurrency trading.
So, although the average age is relatively low, the percentage of newbies is also very low.
Another interesting result concerns school education. In fact, the majority of newbie traders do not have an advanced education, and this, according to the CEO and founder of Overbit, Chieh Liu, would mean that trading is for everyone.
Regulated trading
The survey also revealed that traders generally use three different exchanges to satisfy all their trading needs, with a preference for safe and fast platforms.
Professional traders prefer the regulated ones, probably because they intend to move large amounts of money for themselves and their clients.
Another somewhat curious result is the predominance of desktop over mobile tools.
In fact, although many mid-level newbies prefer to trade using mobile apps, in reality the first choice remains the website on desktop, most likely due to the sophisticated trading tools and bots that can only be used on large screens.
The most surprising result, however, is perhaps the number of trades made on average every day by different types of traders.
While on the one hand, it is not surprising that newbies are found to be the least active, and that average users are quite active, on the other hand, what is surprising is the fact that professional traders carry out a number of daily trades on average much more similar to that of newbies than that of average users.
Newbies and pros make few trades, while average users are the ones who execute the most operations.
According to Chieh Liu, professional traders probably prefer to make a few quality trades, rather than many individually less profitable trades.
