It’s no secret that there are many stereotypes about millennials – the individuals who were born between 1980 and 2000. There are many that believe that these individuals are often entitled and sensitive, along with other negative stereotypes. However, it appears as though they might be more open to cryptocurrency than many people realize.
Specifically, a recent survey indicates that almost half of millennials trust cryptocurrency exchanges as much as stock market exchanges. The data comes from a survey conducted by Etoro, a well-known trading platform with offices in both Israel and the UK. The platform boasts over 10 million users.
The survey wasn’t a small one, and included 1000 online traders. The findings might not be that surprising, considering that millennials have all lived through the global recession that occurred during 2007-2008. Millennials also are known to not put too much trust in the stock market, although many might have been surprised at the amount of support for cryptocurrency exchanges.
For those wondering about exact numbers, 43% of those surveyed actually trust crypto exchanges more than stock exchanges. An overwhelming majority of millennial online traders – 93% – stated that they would invest more money in crypto if it was offered by traditional financial institutions. The survey occurred in September 2018.
Importance Of Millennials
While many might joke about millennials and their attitude/perspective, the truth is that they are now the largest generation in the labor workforce. In fact, over ⅓ of working Americans are millennials. Companies are offering all sorts of features and perks to cater to millennials, as well.
The managing director of Etoro U.S., Guy Hirsch, believes that the study proves that there is a real change with regards to how cryptocurrency is perceived. He states: “We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges.”