Millennials Are More Interested in Cryptocurrency Investments, But They Do It Without Professional Financial Advice

According to a study ordered by the mobile payment platform Circle, aimed at Millennials, Generation X and Baby Boomers, and published on September 12th, Millennials men showed an interest in investing in cryptocurrencies by about 2.5 times higher than women. On the other hand, while 1 in 4 Millennials expressed interest in acquiring digital assets, in the Baby Boomers group the willingness to invest is by ten times lower.

The study considered the opinions of 3,000 people, segmented into three age groups, namely, Millennials, Generation X, and Baby Boomers.

The cryptocurrencies represent a greater attraction for the Millennials since a quarter of them admitted being interested in this type of digital assets, while only between 2% and 10% of Generation X and Baby Boomers are interested in cryptos.

The Millennials are more interested in cryptocurrencies market but are not willing to get professional financial advice for their investments

Those who invest the most are those who are the least willing to request the services of a financial advisor. Only 16% of millennials use one, while 40% of Baby Boomers seek professional advice to invest in cryptocurrencies. In the middle are those of Generation X, among whom 24% solicit professional financial help.

When asked if they are using an application for their investments, the situation is entirely the opposite as half of the Millennials use one, while 30% of Generation X invest via an app, and only 10% of the Baby Boomers do so.

In other words, a complex market like the cryptocurrencies market demands some kind of assistance, only that the younger ones prefer digital tools, while the older ones feel more comfortable with the help of a human expert.

Taking into account only those who invest in the cryptocurrencies market, the Millennials are those who risk more than the other two groups, since 29% of them have invested more than $1000, 29% have spent between $500 and $1,000, while the remaining 42% of the millennials have invested less than $500.

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About the Author: Anna Galvez

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