7 Reasons Why Millennials Love Crypto More Than Stocks
Cryptocurrency is one of if not the most volatile markets to have ever existed in the modern day. It dips and rises in huge chunks within short periods of time and tests the will and determination of everyone “playing the game.”
A great match for another volatile aspect of today’s society – the millennials.
According to Bloomberg, studies show that 30 percent of today’s millennial population (those in their 18-30s) would rather own $1,000 worth of Bitcoin or any cryptocurrency than government bonds or stocks of the same value. This is pretty much expected as It’s no secret by now that cryptocurrency is already a thriving and living market of its own. With blockchain as its base technology making waves in different industries, it’s no surprise that big names like IBM, Microsoft, and Toyota are now starting to look into it which in turn makes ventures in cryptocurrency an enticing subject especially for a generation that loves risks and gambles.
Today, let’s look at why cryptocurrency and millennials are a good match:
Image source: https://kryptomoney.com/bitcoin-survey-lists-millennials-as-its-biggest-supporters/
Millennials love having options open and hate it when we put things into a template of document processing.We don’t like filling out forms, securing our tax documents, and gathering tons of files just to apply for a business venture. Cryptocurrency is an accessible investment as it offers a lot of entry points for almost anyone whether it be the learning process or the actual process of investment itself.
It doesn’t matter which country you are living in. There’s bound to be a platform of some sort that allows an entry into the cryptocurrency game supported by tons of other technologies to learn the industry, track the investments, and move your assets.
Millennials are mobile people and it just so happens that cryptocurrency is friendly for an on-the-go lifestyle.
2. Close to their lifestyle
Cryptocurrency was birthed out of the need for trust systems in a digital environment. Consequently, millennials are the pioneers of the digital movement and transformation – they are the first people to make a digital and mobile empowered lifestyle a thing for the mainstream.
This relationship centered around making things digital is what brings millennials and cryptocurrency closer to each other. To keep it simple, cryptocurrency feels like second nature to millennials as its systems and its ideals are closely tied to their day-to-day living. Cryptocurrency also embraces a strong stand against intermediary systems, an appeal that the independence loving millennials like to embrace.
3. They already know how to use it
Even before cryptocurrencies, there are already many people using digital currencies with a huge bulk of them being millennials. Going back to the time when MMO games were big and players can own digital assets that they can trade within the game were already manifestation of a pseudo-cryptocurrency market. Owning digital assets, currency, and properties are in the millennials’ DNA. Gamasutra even has its own studies about the virtual economies of video games and what factors make them tick, further pushing the idea of a real digital society. Even
today with video game platforms like Steam, Origin, PS Plus, and Xbox Live, the usage of digital currency and owning of digital assets is alive and thriving.
4. It’s risky and exciting
Competition, risk, and success. Millennials are a hungry generation. We are the generation that loves to travel, trying things out, and pushing ideas past its limits. Cryptocurrency embodies the unknown territory of the digital age and it’s a huge appeal for the thrill-seeking millennial. We like seeing the dips and rises of our investments (at least we at STXBlockchain do) and reflect on its implications to the big picture. Millennials love seeing things happen plain and simple and cryptocurrency has no shortage of exciting, good or bad, phenomena.
5. Strong Community
Collaboration and communication. Millennials love a sense of community among other things. We are the most active consumers of both mainstream and social media and we love engrossing ourselves in a community of like-minded individuals. Cryptocurrency is no stranger to this. In fact, it can even be said that every huge movement from ICOs to focused group discussions in the cryptocurrency are all spearheaded by individuals that want to form and strengthen the whole cryptocurrency community.
There’s no shortage of different communities within cryptocurrency. Forum boards, Facebook groups, exclusive circles, etc. It relies heavily on a pool of community knowledge from conceptualizing other ventures for blockchain as technology to speculating the future of different cryptocurrencies.
6. Promising Venture
Even away from cryptocurrency, blockchain is here to stay. More and more industries and even governments are now starting to adapt to this technology as it promises a 100% trust system that many transactional processes have been wanting all this time. This puts cryptocurrency at an interesting place not only as an investment venture but also as an entry point in understanding the blockchain system that will potentially become the next big thing like today’s cloud, IoT, and data-driven analytics.
7. New Innovation Demands a New Generation
Every innovation comes with it a set of new generation as its users. This is true for almost every industry. Starting fresh on new technology allows an individual to learn the ins and outs of the systems that come with it. This is the relationship that millennials and blockchain shares with each other: both are the newest kids on the block with almost an unlimited number of potential. Combining them together in the workplace and industries is the next challenge that we shall overcome. It’s not a small task by any means but if we do manage to utilize these two forces to their full potential then we might propel the whole world into a new golden age.
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