Investing in Crypto Is a Good Opportunity for Millennials

Investing in Crypto Is a Good Opportunity for Millennials

The cryptocurrency market can turn out to be exactly what it takes to attract millennials to trading

This opinion was expressed on the CNBC by a chief analyst of the brokerage company TD Ameritrade JJ Kinahan.

People complain that we did not force millennials to trade. Perhaps it is [a cryptocurrency] - not the product that I would like to start with, but this is the greatest opportunity that we had on the market for people who are not interested in it

Over the past year, the cryptocurrency market has experienced an exponential rise, the price of the most popular cryptocurrency - bitcoin - from $1.000 at the beginning of the year reached its highs above $20.000. The idea of investing in cryptocurrency is popular with the younger generation - this was shown by the results of a survey conducted in the United States.

Kinahan noted that TD Ameritrade traditionally prefers to advise clients to use 10% of their capital for speculation, when the Millennium generation states that they want to use 90% of the money for this.

Do I agree with this? Not necessarily, but for us, it would be foolish to say "you're wrong." In response, they will ask which customers are comfortable investing in the stock market

Recall, that a few weeks ago London Block Exchange conducted the same survey in Britain. It is noted that the study involved about 2 thousand British.

According to the results of the study, 5% of respondents under 35 years of age have already invested in crypto-currencies, and 28% are going to do it in 2018.

Such a choice, according to the London Block Exchange, is due to the fact that the traditional financial system has "let down" the millennials.

The study also showed that next year 12% of the millenniums intend to invest in stocks, 20% - in bonds, 19% - in precious metals and 18% - in private ownership. 24% of respondents also regret that they did not invest in the cryptocurrency earlier.

Information Source: CNBC