Crypto has been hailed as a wealth-building opportunity, but the truth is clear: not everyone profits equally. By conducting a survey on 1023 American crypto investors, we discover that age, income, timing, strategy, and even portfolio allocation all play a decisive role in an investor’s performance. Some groups are far more likely to walk away with profits, while others consistently lag behind.
Methodology
We conducted a survey of 1023 American crypto investors using Prolific to determine their demographics and crypto investing preferences.
The survey was administered on September 5th.
1. Performance by Age Group
The data makes one thing clear: older investors see better results.
- Best performers: Gen X, averaging +24.82%, lead all age groups with disciplined strategies and long-term conviction.
- Worst performers: Gen Z, despite being the most internet-native generation, are the worst crypto investors with only +16.24% PnL. Their tendency to chase hype cycles drags down results.
Millennials sit in the middle at +20.69%, showing that age brings incremental improvements in decision-making and outcomes.
2. Performance by Income Group
2.1 PnL by Income Group
Income doesn’t just dictate how much you can invest – it also shapes outcomes.
The trend is steady: the more you earn, the higher your crypto profits.
Investors earning over $150k dominate, with the highest PnL at +27.52%. Meanwhile, low-income investors earning under $30k post the lowest PnL at +17.70%.
Wealthier investors can take bigger, longer-term bets, while lower-income investors often cash out early, limiting upside.
2.2 Loss by Income Group
The income divide becomes starker when measuring losses.
More than 1 in 3 low-income investors are losing money. Compare that to just 8.51% of investors earning over $150k. The wealthy can stomach downturns and avoid panic selling, while lower-income groups are pressured into bad exits or ill-timed entries.
3. Timing Matters
The most important factor in crypto investing may be when you started.
Investors who entered before 2017 enjoy an average return of 37.29%, the highest of any group. They bought Bitcoin under $1,000 and Ethereum under $100—life-changing entry points. Even those who entered in 2017–2018, during Bitcoin’s first major bubble, saw strong average returns of 34.43% by holding through cycles.
Meanwhile, newcomers since 2024 barely scrape profits at 10.13%, showing how difficult it is to buy late and still win big.
4. Memecoin Investing Does Not Bring Profits
Hype doesn’t equal profit.
Memecoin traders average 18.61% returns, far below the 23.30% for those avoiding them. Viral tokens create buzz but rarely wealth. The lesson is simple: chasing memes may be fun, but it underperforms solid strategies.
5. Rapid Profit Seekers Fail to Gain Profits
Motives matter. Those chasing fast profits perform the worst.
The numbers are brutal: investors aiming for rapid flips average just +6.40%, the lowest of any group. By contrast, those using crypto as a hedge or store of value enjoy the highest average PnL at 45.68%. This confirms that chasing quick wins almost guarantees weak results, while long-term conviction produces the strongest gains.
6. Size Does Matter
How much you allocate also impacts results.
Heavy hitters with >75% allocation enjoy the highest average PnL at +28.46%. Close behind are those with 50–75%, at +27.91%. Small dabblers investing <10% of their portfolio post the weakest returns at +19.26%. Bigger exposure, though riskier, correlates with higher rewards.
Conclusion
Crypto isn’t just a gamble—it’s a mirror reflecting investor behavior.
- Age matters: Older investors like Gen X average +24.82%, while Gen Z struggles at +16.24%.
- Income matters: Wealthier groups earn 10% more and are far less likely to lose.
- Timing matters: Pre-2017 investors lead with +37.29%, while 2024 entrants barely clear +10%.
- Strategy matters: Chasing memecoins or rapid gains lags badly, while long-term and hedge-minded investors thrive.
- Allocation matters: Dabblers earn less, while big players capture higher upside.
The lesson is clear: crypto rewards patience, conviction, and financial stability. If you invest with the wrong motives at the wrong time, you’ll likely join the ranks of the worst performers. But with strategy and discipline, you can position yourself among the best.
