With substantial growth experienced by a significant number of Cryptocurrency’s in 2017 it’s understandable that many students experiencing financial loan debt would consider the world of Cryptocurrency to help alleviate these debts.
Cryptocurrency is becoming an easily acquirable investment that has the potential to pay off big in the not-too-distant future, whilst Student loan debt in america is an uphill battle that most will have to fight well into their 40’s.
The volatility of the crypto market is exciting, and, for better or worse, its potential has attracted the attention of a generation that sees it, not only as “their currency” and the key to the new financial world, but also as an opportunity that could provide the means of foregoing decades of debt.
This survey and others alike are not science, but they are early indicators that a shift in the financial landscape is taking place. Though they do not comprise the bulk of the market cap, millennials do comprise the largest portion of total Cryptocurrency investors. Reservations against traditional financial institutions coupled with growing enthusiasm over the promise of a decentralized world almost ensure that this number will continue to grow.
In a recent report released by studentloans.net discussing the results of 1,000 current college students with student loan debt, participants were asked the following question: "Have you ever used student loan money to invest in cryptocurrencies like Bitcoin?" a surprising 21.2 percent answered in the affirmative.
Colorado financial advisor David Henderson of Jenkins Wealth explains: “When the market is high, you buy fewer shares and when the market is low you buy more shares,” encouraging everyone to invest in shares as “one of the best investments to make in 2018”
You can read more at https://www.forbes.com/sites/jrose/2018/01/05/best-investments-to-make/#577cd17b4b72
Young adults born between 1980 and 2000 (also known as The Millennials or Generation Y) are poised to transform a nation.
Erin Mulligan Nelson, CMO of Bazaarvoice powers online reviews for major marketers and e-commerce sites; recently stated in an article “Boomers may be big spenders, but their kids will be the largest consumer generation in history. Young people aged 17-34 today – the millennials or Gen Y – will spend more than $200 billion annually starting in 2017, and $10 trillion in their lifetimes.
Her full article can be found at http://adage.com/article/digitalnext/millennials-party-brand-terms/236444/
Katie Yates Vice President and Corporate Communications officer for bankrate.com stated “Income and education are clear indicators when it comes to market participation. 73% of individuals with an income of $75K or more invest in the market compared to only 9% of people who earn under $30K per year.”
Similarly, those who have college education say they invest in the market more than people with a high school education or less, 61% vs. 29%, respectively”
For more information please visit https://www.bankrate.com/pdfs/pr/20160706-July-Money-Pulse.pdf