Traditional Finance Users Flock to Crypto Exchanges in Record Numbers

MEXC, a pioneering cryptocurrency exchange, has released a report detailing the migration of traditional finance users to crypto exchanges. The report, titled 'The Next-Generation Investor,' reveals that a significant majority of traditional asset traders have shifted their activities to crypto exchanges.

The survey collected 6,185 responses across 13 languages and found that 74.2% of traditional finance users have moved some or all of their trading activity to crypto exchanges. A further 16.5% are considering making the switch.

MEXC CEO Vugar Usi stated, 'As more users trade Bitcoin, gold, and U.S. stocks on the same day, a financial infrastructure better aligned with today's user needs is taking shape.' The report highlights that limited trading hours (58.8%) and high fees (54.7%) were the primary drivers behind user dissatisfaction with traditional brokerages.

The top reasons for switching to crypto exchanges included 24/7 market access (64.7%) and more competitive fees (53.8%). Users are also attracted by greater asset flexibility, a smoother account opening process, and faster execution speeds.