Why Are Millennials So Into Cryptocurrency Trading – 2024 Review

It’s a sign of the times. There’s no other way of putting it. The shift in investing philosophy is more than obvious now, and it will only get worse in the future. Don’t get us wrong, nothing is getting worse per se, it’s just that the shift is going to be more aggressive than it is today. With cryptos on the horizon, it was easy to diversify your portfolio and try out something new. The whole world was feeling uncertain in recent years, with virtual currencies proving to be valuable and steady investments.

The millennials were the first to follow the trend and they are still leading the charge when it comes to investing and trading digital currencies. But, why are things like this? This is going to be our subject or today. In this article, we are going to try and debunk the question that plagues many. So, why are millennials so into cryptocurrency trading? Please, keep reading, and see our thoughts on the subject. 

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The Loss of Trust in Financial Institutions

Since the global economic crisis that hit the world in the late 2000s, the opinion on major financial institutions such as banks and different corporations went south. Millennials no longer trust banks as they used to, or as their ancestors blindly did. The establishment as we once knew it is no more, and the trend that started with BTC brought massive changes to the way people see finances these days.

Of course, the development of the internet and other technologies made it all possible. We entered a new age of technology only a couple of years back, with the latest smartphones, and continuous work on AI products. Investing in digital currencies became more appealing thanks to these things. In recent months and maybe even years, Bitcoin, for example, managed to have an upper hand over assets such as gold. When you look at it from that perspective, you want to invest in virtual currencies too. 

They See it as Viable Retirement Strategy

Most cryptocurrencies are highly volatile. When you know this it is hard to see them as a retirement plan, right? It is correct to a point. With BTC you can be rich one day, while the next half of your assets might be gone. The spikes and downs of most cryptocurrencies are as tsunami waves. But, despite this, the millennials are still prepared to bet on it as if it was a Premier League match-up between Arsenal and Chelsea. But, this is not a gamble in a sense of the word. There are two primary reasons why they see it as a good retirement plan. 

First of all, millennials aren’t as close to retirement as it might seem. They’re quite far away from it. Because of this, they can afford to take a risk in this part of their lives. Even if things go south they’ll still have enough time for a couple of more attempts to make everything right. Risks do pay off, and even if they don’t, as we said there’s plenty of time to take another shot. The second reason is that they have lived through the housing crisis that happened more than a decade ago. This is where their mistrust of banks and other financial institutions comes from. Stocks and houses are no longer seen as safe investments. Back in the day, they were seen as traditional and safe, and we all know how that turned out to be. This is why despite the volatility and other risks that cryptocurrencies have they’re still seen as a fair investment and trading option. 

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Changing The World

If you look at crypto-demographics you’ll see that the millennials are the main players. Today, they’re seen only as investors, and the exchanges and wallets they’re using are seen as tools for a mean. But, in the future, they could be seen as institutions. This is quite possible as the interest in trading cryptocurrencies is in the growth. The more people get engaged the need for more control is going to arise. New investors will also seek new platforms, tools, and ways to facilitate their needs. If you take a peek at kafila.org, you’ll see that they’re already covering the subject of the connection between digital currencies and one of the most popular generations. 

Considering that newer generations are even more adept at using the latest technology the interest in crypto trading is only going to grow in the future. This is not a surprise considering that interest in it is at an all-time high. With each passing day, more and more people understand that BTC and similar virtual currencies offer a viable alternative to already known financial instruments. When you see how easy is to own them and have utmost control you understand why are people attracted to them. Cryptocurrencies are easy to buy, sell, and use in various transactions. To many people, this wasn’t clear at the beginning making them look at cryptocurrencies as with a high dose of doubt believing they will disappear as quickly as they rose to prominence. The current situation says otherwise and we know better today. Cryptocurrencies are here to stay, and you better hop on the bandwagon or you might risk and miss your chance. 

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The Bottom Line

Bitcoin as the first cryptocurrency came to this world more than a decade ago. What started as a financial experiment is now a primary financial trend and one of the most valuable investments you could have. In the mid-time, many other crypto’s came to this world and millennials were there to witness them all.

Since 2009 nothing has affected the financial markets as much as digital currencies. Today we have a chance to store our assets, send and receive them, all over the place, with no to few fees attached and without having to rely on a third party. Things like these are what made the millennials trust the cryptocurrencies and get involved with trading them as much. When compared to other financial instruments on the market it’s no wonder Bitcoin and other virtual currencies managed to seduce so many investors.