Why Young People are Getting Into Crypto
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The rise in value of crypto over the last 12 months has drawn new interest in this as a way of investing. While older generations may still be drawn towards stocks and shares, it is Generation Z and Millennials that are driving up the price of cryptocurrencies across the globe. From the best known, Bitcoin, to altcoins such as Polkadot, all the way to meme coins such as Shibu Inu, young people are searching for the next big thing. What is it about crypto that makes it so attractive to the younger generation and are they really geared up for success?
Thrill and status
According to a report by the FCA (Financial Conduct Authority), youngsters are drawn to crypto for two reasons: the thrill of the chase and the status that comes with success. The chase comes down to getting it right when selecting the next up and coming coin that you’re going to invest in. There is never any way of knowing which way it is going to go and this just adds to the excitement. The elevated status amongst peers given to those who get it right goes without question.
This is similar to the draw of online casinos. Those such as nolimitcasino provide the perfect environment for those seeking a thrill and hours of fun. Great slots, a variety of table games, and even live casino experiences all make for one of the most entertaining activities that exist online. Landing a win on a progressive jackpot also does wonders for your status!
The ‘now’ culture
It has been said that the younger generation has a certain degree of impatience. They see something, want it, and expect it now. Of course, there is nothing wrong with drive and ambition, but this can at times lead to them acting a little misguided. They see the headlines involving those that have made millions and assume it is an easy process.
Those that fully investigate crypto know that there are times when you can get lucky, but it is rare to satisfy an immediate desire. Often it is the case that investors need to buy and hold. This hold may be for a significant amount of time. The holding of crypto brings bragging rights in itself and often this is sufficient for an immediate desire to be seen as successful in the eyes of others.
The right place at the right time
Exchanges know that young people are seeking something different. They know that they’re not seeking the traditional 9-5 nor are they wanting to invest in stocks and shares. They know that crypto brings this generation all that they seek. How to get that message across? They turn to social media.
With the younger generation all over YouTube, Facebook, Instagram and more, it makes sense that crypto exchanges show their faces here. This is leading to a much greater awareness of what you can achieve with cryptocurrencies and exactly where you can buy them. This will see more and more younger people being drawn into crypto as it becomes accepted by the mainstream.