The study found that one-third of 2018 millennials would buy cryptocurrencies

nRunaway Comment: A survey conducted by the London LBX Exchange found that one-third of the millennial population in 2018 would invest in the cryptocurrency market. And in addition to the United Kingdom, many parts of the world survey also reflects a similar investment attitude. Because millennials who started their careers from the aftermath of the 2008 financial crisis did not trust traditional financial services and did not catch up with the tide of investment in the past. Although there may be a large population to invest in next year, economists still hope that people will have a deeper understanding and risk-taking ability in this area before investing.n
nTranslation: Annie_Xun
London Block (LBX) Exchange recently conducted a study of 2,000 Britons. It shows that under the age of 45, 5% of people have invested in cryptocurrencies and 11% plan to invest next year. Another 17% seriously consider investing by the end of 2018. The British Independent newspaper reported that the study found that one-third of the millennial population in 2018 would invest in the cryptocurrency market.n
n
Millennials favor cryptocurrency investmentn
LBX, the UK cryptocurrency exchange project, believes that millennials are fond of investing in cryptocurrencies because they did not catch up with the traditional way of investing. Benajmin Dives, founder and chief executive officer of LBX, said the study shows a shift in thinking ranging from “the monetary outlook of the younger generation and grandparents whose assets give them good pensions or property.”n
24% of the millennials under the age of 35 regretted not investing in cryptocurrencies earlier.n
Although research is conducted in the UK, many agencies and individuals conducted similar surveys in different regions, reflecting similar attitudes. In a survey by former Texas lawyer Ron Paul, 51% of 43,000 social media users favor bitcoin, not gold, dollar bonds or the U.S. dollar.n
Harris Poll recently conducted another study of 2,000 U.S. adults, showing that 50% of millennials have confidence in Bitcoin. Millennials are twice as likely to hold digital currencies as older age groups. Spence Bogart, Managing Director of Blockchain Capital, said: “The findings reinforce our confidence in the great future of Bitcoin.”n
n
Millennials do not trust traditional financial servicesn
Garrick Hileman, a cryptocurrency expert and Cambridge researcher, believes that “the millennials started their revenue-generating career from the aftermath of the 2008 financial crisis, and many people do not fully trust traditional financial services or systems.” Cryptocurrency represents another alternative system that can be independent of a centralized financial institution. Digital currencies therefore represent a great potential to overcome the predicament that the young population initially used.n
The young population is very different from the older generation. In the LBX survey, 57% of the population over the age of 55 said they would not buy digital currency. In Harris Poll’s survey, 92% of people over the age of 65 believe that large banking institutions are more reliable than digital currencies.n
n
Invest in digital currency or gamblen
Although one-third of a millennial population in 2018 would invest in cryptocurrency, economists believe investing in digital currencies is still a gamble. Some worry that the value of cryptocurrencies may collapse. Laith Khalaf, senior analyst at Hargreaves Lansdown, believes that anyone investing in Bitcoin must understand the fundamentals of investing and the factors of price volatility. “They must also be willing to withstand the huge losses that cryptocurrency can bring, and if it comes to market through bitcoin, they have to understand the operations and risks of the product itself, as well as the complexity of bitcoin.”n

Leave a Reply

Your email address will not be published. Required fields are marked *