Millennials are turning to the crypto industry
Research shows that millennials do not trust banks and turn to cryptocurrencies. A global study conducted last year by Edelman, one of the world’s largest public relations firms, showed that 77% of millennials believe that the traditional financial system is `designed for the rich and powerful`.
According to statistics, 4 out of 5 millennials suffer from a lack of confidence, while the `bad behavior` of the banking system predicts a new global financial crisis. Once again, 75% are concerned about the risk of attacking the global financial system and the potential loss of their personal financial information.
Research has revealed that 17.2% of millennials , who, as a result of all this, give up traditional banking and look for other tools, have cryptocurrencies. According to Edelman’s research, a quarter of the rich millennials have cryptos, 31% are interested in crypto, and 74% consider the blockchain as a much safer system than traditional finance.
According to another Sustany Capital survey, 88% of young people want to invest in cryptocurrencies and 42% prefer to use them as a means of saving. Another study revealed that 97% of millennials and generation X`ers would like to know more about the blockchain system.
Millennials are looking for a whole new way to make their investments in a way that can help them, rather than fueling the profits of banking institutions. Cryptocurrencies are becoming more and more popular in this age group. According to Bloomberg, even in 2018, when Bitcoin fell by 80%, the total number of users doubled to 35 million.