Millennials prefer cryptocurrencies in exchange for traditional stock markets

According to Forbes magazine, by 2030 most American adults will be millennials. They do not trust traditional banks and stock markets. Numerous statistical studies show that the generation born between 1981-1996 prefers new technologies – millennials prefer cryptocurrencies for the perfect combination of innovation and decentralization.

The research carried out by Coldwell Banker, to which Forbes refers, presents the phenomenon called “The big transfer of wealth”. Over the next 25 years, over 68 trillion dollars will be transferred to the generation of US millennials. In the next ten years, this generation will be dominant in the global economy.

Millennials have taken on the crisis of 2008 – the worst economic crash since the Great Depression of the 1930s. From an early age, they saw banks and exchanges lead to the economy crashing, and its recovery was made on the basis of taxes paid by the population. .

For this reason, most do not trust these centralized systems. Currently, I use them because they do not have many alternatives.

Millennials prefer cryptocurrencies

However, 68% of millennials would be happy to say goodbye to banks forever and move to new payment systems. For example, to potential solutions from Google, Apple, Amazon or Facebook. Or in cryptocurrencies, subject to reducing their volatility.

According to an independent research firm, Provoke Insights, 43% of millennials are more confident in cryptocurrencies than in US stock markets.

71% of those who have not used Bitcoin so far would buy if their legal status was clarified.

According to a press release from the Financial Services Committee of the US House of Representatives, 25% of young investors already have cryptocurrencies in their portfolio. These are Americans between the ages of 24 and 38, who make $ 100,000 a year or hold investment assets of $ 50,000.

Digital natives

The millennial generation has developed within the digital evolution. They have matured in the period when the internet is available anywhere, everyone can afford a smartphone or laptop and, of course, the advent of cryptocurrencies.

From this perspective, they are not interested in investing in gold or unprofitable shares. They know I can create a crypto wallet in a few clicks and they can trade cryptocurrencies 24/7, without bureaucracy.

Cryptocurrencies offer them a chance to multiply their investments and, at the same time, to contribute to the creation of a new financial system – decentralized and honest.