According to a recent survey by Circle 25% which is 1 in every 4 of millennials are planning to invest in crypto over the next 12 months.
As the baby boomer generation approaches retirement, millennials who are still in their early years of accumulating wealth, have began increasing their impact across products based on financial services acquiring more income and wealth.
It’s no surprise that Millennials are one of the largest age groups to invest in crypto. The idea of being in control of one’s money without having to go through a bank to gain access to funds seems to appeal to the younger generation in particular, regardless of risk factors, in fact 92% of them don’t trust banks
While there choice to buy crypto is majorly a financial investment, millennials believe in other functions of cryptocurrency such as the potential to replace bank lending, financial litigation and a lot of things that make life incredibly complicated for ordinary people.
Millennialls are investing for the long term, and because they are in it crypto for the long run they have understood this technology and know that it will yield returns in the coming future despite its current volatility which is mostly caused by regulatory factors. People assume that it is a risky investment and yes the field is risky but only if you are a short term investor.