New Research Shows High-Earning Millennials are More Interested in Cryptocurrencies
According to a recent research unveiled by the blockchain-related company Clovr, high-earning millennials are more prone to invest in cryptocurrencies than other users. The survey has collected information from over 1,000 individuals in the United States that were ranging between 18 and 80 years old.
The survey shows that men are as twice as likely as women to invest in cryptocurrencies. That represents 43 per cent of men and 23 per cent of women. At the same time, 47 per cent of respondents with an income higher than $75,000 dollars annually are more prone to invest in digital assets than other social groups. Those numbers go down to under 25% in investors that earn less than $25,000 dollars.
Data from the U.S. Bureau of Labor Statistics shows that the median weekly earnings during the second quarter of 2018 for individuals between 25-34 years-old was $857 dollars. That means that the median annual salary was $44,000 dollars.
Furthermore, 40% of the individuals surveyed answered that they decided to invest in the cryptocurrency market because they knew somebody that influenced them to do so. Additionally, 35% of the users have reportedly been lured into the crypto market due to ‘Fear of Missing Out.’
It is also important to mention that the survey showed that 75% of the respondents ‘feel’ they know about what a cryptocurrency is. 20% answered that they ‘sort of’ know what is going on in the cryptocurrency space. Moreover, 62% of the respondents said that they would be able to discuss about virtual currencies.
33% of the surveyed individuals explained that cryptocurrency investment is an innovative and new way if it is compared to other traditional investment vehicles such as stocks or bonds. And 80% said that they consider investing in cryptocurrency as a positive form of risk-taking.
In general, and according to several other surveys, millennials are the most interested individuals in cryptocurrencies. This age group is clearly influenced by the latest technologies and trends that are growing all over the world.