Traditional Finance Users Flee Brokerages for Crypto Exchanges

A report from MEXC reveals that traditional finance users are increasingly turning to crypto exchanges for their trading activities. According to the study, 74.2% of traditional asset traders have shifted some or all of their activity to crypto exchanges, with another 16.5% considering a move.

The survey collected 6,185 responses across 13 languages and found that even users who first invested in the crypto market are now trading traditional assets on these platforms. In fact, 61.9% of crypto-native users have already traded traditional assets on crypto exchanges.

The main drivers behind this migration are limited trading hours and high fees associated with traditional brokerages, which respondents saw as major drawbacks. The ability to trade 24/7 and more competitive fees were the top reasons for switching to crypto exchanges.