A global poll by deVere Group, an international financial consulting firm, revealed that 36% and 51% of Generation Z would prefer to receive half their paychecks in digital assets over fiat.
Crypto is the Future of Money For Youngsters
Many see the cryptocurrency industry as both a technological advancement and a financial revolution. It is popular among those younger than 40 years old. It is not surprising that cryptocurrency industry is popular among those who were born between 1980-96 and 51% among those born 1997-2012. A recent deVere Group study found that half of all those who received their salaries in bitcoin or alternative coins would prefer to do so.
Nigel Green, CEO and Founder of the company, explained that young people find the asset class appealing because of technological advances made when they were children. They are the ones who understand the “massive potential” of digital currencies because they have been influenced by the “enormous rise” in innovation throughout their lives.
Green stated that Millennials and Generation Z prefer a decentralized, autonomous digital currency and payment network to a system in which governments and monetary institutions are under control.
The top executive stated that “they clearly believe crypto is the unavoidable future of money.”
Nigel Green, Source: South China Morning Post
Another research shows that 47% of these millionaires have at least 1/4 of their wealth invested in digital currencies. Half of these millionaires have invested in digital currencies.
Which Age Group is Most Attracted to Crypto?
Another survey was conducted at the end of September and revealed which generation is most likely to trade with bitcoins and other coins. The results show that millennial investors are the most successful, with 12% saying they have given some of their wealth to the asset class. Xennials came in second at 9.2%, and Generation X at 6.3%.
76% of millennials responded “yes” to the question about whether they had made a profit from their investments. Interestingly, the first place in this statistic was held by xennials (those aged 40 and older) with 80.5%. With 71.5%, Generation X, the oldest of these three generations, was at the bottom.
Around 60% of all age groups consider bitcoin the best cryptocurrency investment asset. For Generation X and millennials, Ethereum is the second most preferred cryptocurrency investment asset. It is however the fourth choice for Generation Xers who prefer to choose Bitcoin Cash or Dogecoin.
Marla Brooks – Financial Analysis
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