Why Gen Z Is Ditching Traditional Investments.. Here's Why!
Why Gen Z Is Ditching Traditional Investments.. Here's Why!
Welcome back to Crypto Focus, today on the channel we are going to find out Why Gen Z is ditching traditional investments. We are seeing many Gen Z and young millennial investors and these include teens to those in their early 20s going the cryptocurrency way as opposed to traditional investments. This next generation is super online and quite into the technology that surrounds the cryptocurrency market. Some of the most common crypto products include blockchains such as Bitcoin and Ethereum, NFTs, meme coins such as dogecoin, non fungible tokens, decentralized finance, and DeFi.
It has been observed that this bracket of investors are spending a bulk of their savings on these digital investments. According to the CNBC Millionaire Survey, it is estimated that about half of millennial millionaires have invested at least 25% of their wealth into cryptocurrencies. A third of the same millennial millionaires have half of their wealth invested in crypto while the other half are NFT owners. The main reason young people are turning towards alternative investments such as crypto is the lack of trust in traditional investment institutions. They perform their own research as opposed to trusting the insights provided by traditional institutions such as from financial advisors in legal firms.Initially, it was observed that many Gen Z and young millennial investors went for cryptocurrency to avoid traditional financial institutions while still building wealth. Finish this video to know more Why Gen Z is ditching traditional investments.
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