No Result
View All Result
Advertise
Submit a Press Release
Contact Us
Coindoo
  • Cryptocurrency News
    • All
    • Bitcoin News
    • Ethereum News
    • Litecoin News
    • Ripple News
    Fidelity Investments

    Fidelity Investments Becomes the First Financial Institution to Receive the Bitcoin Lightning ‘Torch’

    QuadrigaCX

    Brian Armstrong Shares His Thoughts on The QuadrigaCX Situation

    Thailand

    Thailand’s Government Allows the Issuance and Trading of Blockchain Securities

    Andreas Antonopoulos to Ethereum community:  Be Careful of Fragmentation

    Andreas Antonopoulos to Ethereum community:  Be Careful of Fragmentation

    Korea Exchange (KRX)

    Korea Exchange (KRX): US [SEC]’s Decision on Bitcoin ETFs Will Influence Local Crypto Market

    a16z

    University of Michigan (UM) Endowment to Increase it Portfolio Size in Andreessen Horowitz Crypto Venture Fund a16z

    Trending Tags

    • ethereum
    • ripple
    • Tron
    • bitcoin
  • Analyzes & Reviews
  • Guides & Tutorials
    How to Create a Bitcoin Wallet Address from a Private Key

    How to Create a Bitcoin Wallet Address from a Private Key

    Best OmiseGO (OMG) Wallets for 2019

    Best OmiseGO (OMG) Wallets for 2019

    Blockchain 101: What Are zk-SNARKs?

    Blockchain 101: What Are zk-SNARKs?

    Best Cryptocurrency Affiliate Networks

    Best Cryptocurrency Affiliate Networks

  • Events
No Result
View All Result
Coindoo
No Result
View All Result
Home Blockchain Guides & Tutorials

Why Are Millennials Leading the Cryptocurrency Charge

Adriana Midrigan by Adriana Midrigan
February 14, 2019
in Blockchain Guides & Tutorials
Why Are Millennials Leading the Cryptocurrency Charge

Millennials are leading the cryptocurrency charge and changing the global financial landscape in the process. Recent studies are showing that millennials are the biggest investors in cryptocurrencies, investing at three times the rate of Baby Boomers. Changes in ideology and the relationship millennials have with the current banking system are also factors that are explaining this shift. Let’s look at a few of the reasons why the millennial generation is moving into cryptocurrency in full force.

A Broad Acceptance of Cryptocurrencies Overall

Cryptocurrencies have been around for more than a decade. That makes them familiar to millennials while it remains a novel technology or speculative investment to older generations.

Out of all groups, millennials display the greatest willingness to use cryptocurrency in general. Of those who think that cryptocurrencies will become widely adopted, a third said they’d rather shift to cryptocurrencies over fiat currencies like the U.S. dollar. When you take those broad statistics and break it down by age, it turns out that half of the millennials are willing to make that shift.

Millennials have the most positive attitude toward cryptocurrencies and are the most likely to think it will be widely adopted. Furthermore, it seems like their interest will lead to increased adoption. About 9% of those surveyed said they owned cryptocurrencies, while a quarter said they wanted to own it in the future. A quarter of millennials surveyed said they’d like to move at least part of their retirement account savings into cryptocurrency. The only thing slowing down its acceptance is the concern that it is linked to illegal activities. But as the cryptocurrency landscape expands, we can expect new coins that address the issue to be released, which could encourage millennials who might be reluctant to invest in cryptos because of this reason to jump on board.

They’re Already Starting to Invest

One survey found that about a quarter of millennials say they already buy, hold or use digital assets. Another third say they are interested in investigating it as an investment option. That means more than half of millennials might end up holding cryptocurrencies in the near future. A different study found that nearly 60% of millennials had $500 or more invested in cryptocurrency.

One of the more notable findings is that many already feel like they’ve missed out on investing in cryptocurrencies, leaving them regretting not buying sooner. Many want to buy it so that they can get into a new industry they see taking off, while some see it as a way to make money fast. What this ultimately means is that we could see another craze comparable to Bitcoin if a promising new coin starts taking off, as more millennials become aware of their earning potential.

The Increasing Reliance on Tech by Younger Adults

Millennials use tech far more often than their parents. Half of the millennials use an app to invest versus 10% of Baby Boomers. And this is mainly because millennials are generally more open to embracing new technology.

For example, they’re welcoming blockchain in a number of other applications. This makes buying cryptocurrency via an app a logical choice for them. After all, if you’re already using digital payment services and sending money via apps, why not invest in cryptocurrencies via a different app while you’re at it? Baby boomers, on the other hand, might still be reluctant to truly embrace this shift towards a cashless society while it’s becoming second nature for most millennials.

A General Distrust of Traditional Financial Institutions

Millennials are more risk-averse than prior generations. This is partially due to their childhoods spent dealing with the aftermath of the Great Recession and the housing bust. They’re less likely to take on credit card debt, for example, though school loans are almost impossible to avoid. Their distrust of big financial institutions means they are very unlikely to use investing managers.

For example, where over a third of Baby Boomers want a professional to pick stocks for them, a quarter of millennials would rather do things on their own and only a few will rely entirely on a pro. And why should they, when sites like coins.live allow them to see crypto price fluctuations in real time and make their own research? And the wealth of information at their fingertips allows them to choose their community while sharing strategies without having to deal with a self-interested third-party.

Conclusion

Surveys are finding that millennials are very familiar and comfortable with cryptocurrencies, while a fair number already owning and using it. This will propel cryptocurrencies into the mainstream because it already is for the next generation.

Tags: cryptocurrencycryptographymillennialsMillennials Cryptocurrencytech
Adriana Midrigan

Adriana Midrigan

Adriana Midrigan is a web content writer and editor at Brantell, Coindoo, and TheCCPress, who takes care that the articles you read are user-friendly and the subjects are among the most sought-after. She is passionate about discovering new things in the cryptocurrency and blockchain industry.

Related Posts

How to Create a Bitcoin Wallet Address from a Private Key

How to Create a Bitcoin Wallet Address from a Private Key

by Anca Faget
February 18, 2019
0

What is a Private Key? A private key is a secret 256-bit long number randomly selected when you create a...

Best OmiseGO (OMG) Wallets for 2019

Best OmiseGO (OMG) Wallets for 2019

by Vladimir Ciobica
February 18, 2019
0

Even though there’s still a lot of uncertainty surrounding the future of cryptocurrencies and the fact that the crypto market...

Bleutrade Exchange Review | 2019 Guide

Bleutrade Exchange Review | 2019 Guide

by Anca Faget
February 18, 2019
0

What is Bleutrade? Bleutrade is an exchange platform which deals exclusively with cryptos. The company was established in 2014 and...

Blockchain 101: What Are zk-SNARKs?

Blockchain 101: What Are zk-SNARKs?

by Anca Faget
February 18, 2019
0

What are zk-SNARKs? zk-SNARK is an acronym for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” which is a proof construction where...

Best Cryptocurrency Affiliate Networks

Best Cryptocurrency Affiliate Networks

by Vladimir Ciobica
February 18, 2019
0

Cryptocurrency affiliate networks (often referred to as referral programs or partner programs) are one of the best ways to generate...

Load More

We Recommend

Top Rated Casinos
Bitstarz Casino
Top Rated Exchanges
Binance Exchange
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

Editor's Choice

gambling
Cryptocurrency News

Blockchain Projects that Have Changed the Gambling Industry

by Erick Stingaciu
February 20, 2019
0

Prime XBT: Helping You Build Cryptocurrency Wealth with 100X Leverage

Prime XBT: Helping You Build Cryptocurrency Wealth with 100X Leverage

January 8, 2019
bitcoin casino

Tips on How to Choose a Bitcoin Casino

January 7, 2019

5 Minutes of Blockchain & Cryptocurrency News!

We completely understand that your inbox is already full of junk emails. We promise that we gonna try to keep it clean by sending a daily newsletter with our latest news. You can always choose to unsubscribe to our newsletter if you're not satisfied.
coindoo icon
  • Contact Us
  • Advertise
  • RSS Feed
  • About Us
  • Partners
  • Terms & Conditions
  • Privacy Policy

© 2017-2019 Coindoo by Brantell Media.

The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

No Result
View All Result
  • Cryptocurrency News
  • Analyzes & Reviews
  • Guides & Tutorials
  • Events

© 2017-2019 Coindoo by Brantell Media.