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15 Nov 2020

Young Investors and Bitcoin: What Are the Reasons for The Craze?

Introduction

Today, we can see the young generation showing interest in the Cryptocurrencies instead of stocks and share markets. This shows that the young generation is more inclined towards technological advancements and have lost faith in the current financial infrastructure.

We all know that the first Cryptocurrency introduced in the market was Bitcoin. But that is not the case. The ancestry of the Cryptocurrency goes back to the early 1980s. A developer named David Chaum founded DigiCash company and introduced the first electronic cash, “e-cash.”

However, the working modules had too many loopholes that prevented the idea from spreading. The official modern era of digital currency started in 2009 with the first official Cryptocurrency, Bitcoin.

After the introduction of Bitcoin, it has become the standard by which people compare other digital currencies. Today, the young generation invests more in the Cryptocurrency than any other age bracket. The millennials are not only invested in the Cryptocurrency financially, but they are also invested mentally.

They think that Cryptocurrency holds the key to achieve freedom from the traditional financial infrastructure. That means the younger generation is more inclined to take risks with the new market than maintain the status quo.

 

Why Are Millennials So Inclined Towards Cryptocurrency?

Reports made by the blockchain capital shows more than 40% of the Millennials are aware of the Cryptocurrency presence, which is far more than 15% of the senior citizens. The survey also shows that people between the age bracket 18-35 are much more comfortable to invest $1000 in Cryptocurrency than traditional shares and the stock market.

Here are the reasons why you will find the younger generation on the side of Cryptocurrencies.

 

Millennials Are Aware of The Economic Instability

Since the first millennials were born, the world has faced several crises. Millennials have seen the 1987 stock market crash down, the 1997 financial crisis, and the 2007 mortgage crisis. These events made millennials aware and cautious about the world’s economy.

This lack of instability in the central financial system that has caused several crises has resulted in a lack of faith in the current system. Millennials are more than happy to welcome and explore new financial systems that can cover all the drawbacks of the existing financial infrastructure.

This is one of the root causes why the younger generation does not feel obligated to support the current financial system.

 

Younger Generation Are Comfortable with Technologies

While young people have lived in a financially unstable world, they have also been into the world where they have been part of the modern technological evolution. That does not mean that older people do not understand technology. It is just that the younger generation is technologically literate more than their predecessors.

Technological literacy is the reason why you see a thinking process gap between the younger and older generation. This is why the older generation is quite sceptical about the existence of digital currency.

Digital currency is the new currency for the new generation. We are yet to see its full potential. But we certainly know why the younger generation is more inclined towards the Cryptocurrency and Bitcoin.

 

Young people Are Willing to Take Risk

One of the major factors influencing the younger generation to make investments in the Cryptocurrency and Bitcoin is that they are young. Being young always gives you that extra confidence in the things you can do. This led the younger generation to take risks to achieve what they believe in.

This is true for every generation gap. The more time you spend in the world, or the more experience you gain, you become cautious about the things happening around you. But for the young generation, everything is new. So no matter what they try, it will be a new thing to them, and they will have a new experience to gain.

Investment opportunities are always a gamble. The older generation sees traditional stocks as a volatile investment, in the same way, the younger generation sees cryptocurrency.

 

Conclusion

The young generation is the future of the market. The market will depend on their choices and what they will prefer to achieve in the future. Hence, if the younger generation is showing interest in Cryptocurrency, Cryptocurrency might have a future. If you are new to the crypto trade market, you can use the bitcoin billionaire to start making crypto investments.

 

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