eToro is a leading global trading platform for investing in cryptocurrencies and traditional stocks. A new study by the company shows the increasing interest in investing in cryptocurrencies. Already 71% of the millennials surveyed stated that they had more confidence in cryptocurrencies than in traditional stocks.
Generational change brings more trust in crypto exchanges
The study was from Provoke Insights carried out on behalf of eToro. Have been asked 1.000 online investors from the United States in old age between 20 and 65 years ago. The poll started in September 2018. The results speak for themselves: more and more people, especially those who are known as millennials, are interested in various investments in the crypto market. The most important results at a glance:
- 43% of millennials surveyedThose who trade online say they have less confidence in stock markets than they do in the crypto market
- 71% of millennials surveyed would invest in cryptocurrencies if offered by financial institutions
- the Half of the online investors surveyed are interested in investing part of their 401k plan in cryptocurrencies.
Particularly impressive: 45% of respondents who do not trade cryptocurrencies are interested in it.
As a Millennials apply to people who were born in the mid-80s to the late 90s, approximately an age of 23 to 35 years ago corresponds. One 401k plan denotes one in the United States Pension savings plan. In these, the employer usually pays in directly, thereby generating tax-privileged income that is invested directly in pension provision. The employee therefore receives less wages, but this part is paid into the savings plan.
The study also shows that people from the previous generation are critical of crypto exchanges. 77% of the people interviewed from the Generation X state traditional Stock exchanges more zu vertrauen.
Guy Hirsch, General Director at eToro, recognizes the shift towards crypto exchanges:
We are currently seeing the beginning of a generation change in which trust in traditional exchanges is increasingly moving to crypto exchanges. At the heart of this change are digital assets themselves. Younger investors have seen a major loss of confidence, including the fall of the Lehman Brothers and their irresponsible practices, followed by one of the worst recessions since the Great Depression in the United States.