One in four millennials is investing their money in the leading digital currency, Bitcoin, instead of opening traditional bank accounts. According to the survey, they claim that they earn more from their Bitcoin investments and that their money is safer.
According to the survey conducted by Blockchain Capital, 70% of the 10,000 millennials who were surveyed said they are not happy with the interest rates offered by banks and almost 65% said their money is safer in Bitcoin because they control it personally . The survey also showed that almost two thirds of women surveyed have started investing in other digital currencies in order to diversify their portfolio.
Other highlights of the survey:
Despite Bitcoin's preference as a form of investment, just under 50% of the millennials surveyed said they are also looking for a more convenient form of banking and 45% said they want their banks to integrate Bitcoin wallets into their operation. So they can invest directly in cryptocurrencies through their existing bank accounts.
The survey also estimated that most millennials will invest around two thirds of their savings in virtual currencies. According to the site's founder, Andrew Sung, the results of the survey showed that the younger generation adopts new technologies much faster than their older counterparts. "The younger generation has been noticeably faster to act on new technologies, including the latest smartphones, which has allowed millennials to invest in Bitcoin in recent years, before the big hedge funds and institutions financial institutions will begin to get involved. "
