December 20, 20174min664

Millennials will invest more in cryptocurrencies in 2018

The study in the United Kingdom showed us that 5% of people under the age of 45 have already invested in cryptocurrencies and 11% are planning to invest next year. A further 17 % are seriously thinking about investing in a cryptocurrency by the end of 2018. The United Kingdom’s reports that study found a third of Millennials will invest in cryptocurrency market in 2018.


 

MILLENIALS DON’T TRUST BIG BANKS

Gariick Hielman – cryptocurrency expert and research fellow at the University of Cambridge said:

Millenials began their income generating year during the fallout from the 2008 financial crisis and many don’t completely trust traditional financial services or the system in which they operare.

Cryptocurrencies represent an alternative system that can act independently of centralized financial institutions. These digital currencies represent great potential and as a result, it has managed to overcome the initial stigma surrounding their use with the younger demographic.

The Millenials trust digital currencies, but on the other hand 57% of people over 55 wouldn’t invest in cryptocurrencies. Older generations still believe that big banks are more trustworthy.

MILLENIALS GIVE PRIORITY TO CRYPTOCURRENCY INVESTMENTS

Uk’s cryptocurrency exchange program (BX) believes that millennials like cryptocurrency investments because they feel left behind by older forms of investment. The study showed us a change in thinking between generations.
LBX Founder and chief executive officer Benjamin Dives said:

The younger generation’s view of money and that of their parents and grandparents, who had assets perform so well for them in pensions or property.

24% of Millenials under the age of 35 regrets that they didn’t invest in cryptocurrencies earlier.

This study was done in Britain, but institutions and individuals have done similar studies in different geographic locations that reflect similar attitudes. The former Texas Congressman – Ron Paul, made a survey where 51% of 43,000 social media users preferred Bitcoin over gold, US Bonds or the US Dollar.

Another survey recently done by Harris Poll involved 2,000 American adults, which showed that 50% of Millennials have a positive view of Bitcoin. Millennials are also more likely to own cryptocurrencies, than older generations.
The managing director of Blockchain capital – Spence Bogart states that:

The results of the survey reinforce our conviction in the massive opportunity that lies ahead for Bitcoin.

ECONOMIST BELIEVES THAT INVESTING IN DIGITAL CURRENCIES IS A GAMBLE

Even though a third of Millennials will invest in cryptocurrencies in 2018, economist believes that investing in digital currencies is a gamble. They are concerned that the value of cryptocurrency could crash.
Senior analyst at Hargreaves Lansdown- Laith Khalaf, believes that anyone who invests in Bitcoin should understand how investing works and what factors drive prices up and down.

They should also be willing to sustain the large losses which could stem from the volatility of the cryptocurrency, and if gaining exposure through a bitcoin product they should make sure they understand the operation and risks of the product itself, as well as the intricacies of bitcoin,

Do you trust big banks or cryptocurrencies? Leave us a comment below.


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