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Gen Z and Cryptocurrency

Cryptocurrency has, in the past twelve years, completely revolutionized the financial industry. Millions of people from all over the world have started looking into and invest in digital currency, and even more impressively, a high percentage of them are including cryptocurrency into their financial plans for the future.

For those not in the know, cryptocurrency is a form of digital currency which relies on cryptography and blockchains to provide proof of ownership, and make it nearly impossible to counterfeit. Most cryptocurrencies are decentralized, which means they are not under the authority of any bank system or central authority. This means that purchases made with cryptocurrency are not beholden to banking fees, allowing for greater user autonomy. 

Popular Cryptocurrencies and How to Get Them

The most popular cryptocurrencies on the current market are Ethereum (ETC), the stablecoin Tether, which is worth $1, Litecoin (LTC), Ripple (XRP) and of course, the king of crypto, Bitcoin (BTC), along with a lot of its hardforks.

Cryptocurrencies can be bought and sold on apps or sites called crypto trading sites. They provide a user-friendly interface, place importance on security, safety, and anonymity, and employ brand new artificial intelligence technology to predict market fluctuations and maximize the profits of their users and investors. All these benefits mean that these apps make crypto trading a lot easier, and newbie friendly.

It is perhaps for this reason, that in recent years, it has been shown that younger and younger people are more readily using trading sites like the new ekrona crypto site. The website is one of the most highly-respected and well-reviewed crypto websites that have popped up in recent years.

Younger Generations and Cryptocurrency

As stated, there has been a noticeable increase in the amount of young people willing to invest in cryptocurrency and other digital assets, like NFTs. Surveys have shown that millennials and Gen Z are far more trusting of cryptocurrency, and all the technologies and developments associated with it than previous generations. Millennials, especially, seem enamored with the crypto phenomenon. It isn’t surprising, considering that most of them grew up along with the internet, and genres that celebrate counter-culture, cyber movements (cyberpunk, grunge, punk, etc.).

A survey done recently showed that nearly half of millennial millionaires have a quarter of their wealth invested in Bitcoin and cryptocurrencies. Furthermore, it is estimated that a large number of them also own non-fungible tokens as well. Some of these young millionaires owe their entire wealth to crypto

 trading and investing as well. This information has resulted in a massive shift in wealth management, as private banks and brokers are learning to appeal to a clientele of crypto users. 

But it isn’t just nameless millennials who are growing interest in the world of crypto. Big names of the generation have expressed support and have even been involved with cryptocurrency. Paris Hilton, who at one point was one of the most recognizable celebrities on the planet, has shown huge support from cryptocurrency and NFTs. In fact, she has even created some of her own tokens, which have been met with huge success.

The question that arises then is, what sparked this interest in cryptocurrency and crypto trading among the younger generations? The answer is simple. Many young people who have the means to invest have simply lost faith in more traditional investment methods. As with most young people, the younger generations of today value independence, individuality and would prefer to rely on their own research and knowledge, than depend on legacy firms, financial advisers, and other, more traditional institutions.

The Future of Cryptocurrency

However, it isn’t just Gen Z and millennials who are embracing cryptocurrencies. Studies show that the percent of adults in the US who own Bitcoin has recently exceeded 20%.On top of that, the number keeps increasing, especially once different cryptocurrencies are included in the mix. Not only that, but ¾ of Americans admit to having an interest in Bitcoin, and other cryptocurrencies, and are willing to learn more about the phenomenon.

On top of individual interest in Bitcoin rising, an increasing number of companies are opting to accept Bitcoin, and other cryptocurrencies as viable payment methods. Starbucks, Paypal, Whole Foods, Home Depot, etc. are just a few of the many companies who have decided to accept payments made with cryptocurrency. This decision bodes well for the future of the crypto market.

Among the biggest companies to show interest in the market is Microsoft. The biggest software company in the world showing interest in the phenomenon has certainly boosted the amount of people who are willing to trust crypto and look at it as a viable investment option.

With all of this in mind, the increasing interest in cryptocurrency among both older and newer generations, not to mention the disillusionment with orthodox investment paths, the future of cryptocurrency and crypto trading seems bright indeed. This reflects in the price increases in the most popular cryptocurrencies in the past few years

ABHIYAN
the authorABHIYAN
Abhiyan Chhetri is a cybersecurity journalist with a passion for covering latest happenings in cyber security and tech world. In addition to being the founder of this website, Abhiyan is also into gaming, reading and investigative journalism.

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