Thousand-year traders have more confidence in digital currency trading than in the US stock markets. In a new study by the eToro investment platform, data on the investments at the turn of the millennium was collected and published on 19 February.
Thus, 43% of online investors surveyed for more than a millennium show less confidence in the traditional stock market, while confidence in cryptocurrencies is higher. 93% of Millennium Cryptocurrency Traders said they would invest more in digital currency if traditional financial institutions offered such an option. At the same time, 71% of millennials who do not use crypto currency said they would start if offered by conventional institutions.
Guy Hirsch, US General Manager of EToro, said the market is currently seeing a shift in confidence building from traditional exchanges to digital exchanges. "Immutability is inherent in block chains and makes real-time testing meaningful and cost-effective, so Millennials and Generation Xs find cryptographic exchanges less likely to be manipulated and less a place to reward bad ones with taxpayer money," Hirsch said.
45% of respondents indicated interest in using cryptocurrency in their 401 (k) plan, and 74% of digital currency traders would like that option from their 401 (k) plan providers).
The study was commissioned by eToro in September 2018 by market research and strategy firm Provoke Insights. The study interviewed 1,000 online investors between the ages of 20 and 65. The company points out that the error rate is about 3 percent.
A study released last November has shown that cryptocurrency investment is the most popular among millennia, earning between $ 75,000 and $ 99,999 per year. The survey collected responses from more than 1,000 Americans aged 18 to 80 years. Almost 40% of respondents cited their colleagues' influence as the main reason for investing in crypto, and more than 35% had been drawn to the crypto market through "Fear of Missing".
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