If you’re aware of the wonders of blockchains, tokens, NFTs and digital assets, you probably already know that cryptocurrencies have taken over the world in more than one way. According to recent statistics, more than 6.8% of the global population owns crypto-assets. Numbers vary from place to place, but one thing is certain: more and more people are interested in crypto, what they can learn from it, and what they can earn from it, of course!
Let’s get one thing clear. Despite a growing number of tech-savvy seniors, crypto is more of a young people’s game because most people who own and interact with digital assets are aged 40 or less. What are the different factors leading to this trend? Let’s have a closer look and see what type of population is fully prepared to embrace a future with cryptocurrencies.
Millennials: The Generation that Started it All
Because Bitcoin was created in 2008, it’s easy to understand how millennials, who were aged 15 to 25 at the time, were the first to dabble in BTC, ETH, Solana, and the like. Moreover, the social media frenzy encouraged even more people to become interested in crypto. As of 2015, there were probably 2,000 different digital assets available to buy and invest in.
Cryptocurrencies have shown that people can invest with very small sums in a very volatile market. The ones who became rich have good stories to tell, and the ones who got on the bandwagon a bit too late are still learning how to navigate such a complex market. However, it’s the Millennials who love crypto more than anybody else, as it’s an artifact from their generation.
Gen Z: Digital Coins for Digital Natives
Born with a screen in their hands and social media on their minds, people from Generation Z – aged 15 to 25 as of 2024 – are a perfect ground for any crypto experiment, providing that they have the cash to invest. The driving force behind Gen Z is that these youngsters are able to comprehend complicated concepts – as they were born with them.
There’s so much to do besides owning and investing in crypto. With the recent emergence of Web3—an idea of a decentralized web where the use of crypto is prominent—people can now play games for crypto rewards and collect NFTs, a type of asset that made headlines in 2022.
One would admit that Gen Z are smart: they are born in a world made of constant news flash, and they quickly adapt to new trends to make the most of it. There’s no time for daydreaming in the minds of this generation. They also possess a vast array of internet tools that get them results quicker than their Millennial counterparts. In the crypto world, it translates as a growing adoption of digital assets, as Gen Z makes up more than 17% of all crypto users, according to a recent study.
Seniors: What Can Grandparents Get from Cryptocurrencies?
Although explaining the concept of blockchain scalability to our favorite uncle sounds like a headache, it would be unfair to declare that the so-called Boomer generation doesn’t know about crypto. They’re fully aware that some crypto projects are worth a fabulous amount of money, and it’s only natural that they want their piece of the cake.
People who are close to retirement tend to invest in things that are known to be somewhat secure: pension plans, life insurance and real estate. However, crypto is gaining so much attention that even your oldest relatives are forced to pay attention.
Since the American financial regulator (SEC) has authorized Bitcoin and ETH as ETFs, there’s a growing number of American seniors investing in crypto in some ways. BTC ETFs have become a huge success so far as more and more Americans are looking for a way to diversify their portfolio.
Getting assets such as Bitcoin and Ethereum into the more traditional investment realm wasn’t only a good opportunity to make money. It’s also a sign that digital assets are getting mainstream recognition around the world, even though the path to global adoption is still very long.
The Learning Curve: An Important Factor in Crypto Adoption
Among the many factors that put people off about crypto, we can safely assure you that this industry looks quite complicated to the newcomer. With a proper avalanche of new terms (blockchains, Non-Fungible Tokens, Digital wallets, ERC-20), it’s easy to understand how and why a newcomer could feel frightened to put some money into this type of asset.
Crypto trading requires a learning curve. From buying actual cryptos to storing them in a digital wallet to sending a payment across a blockchain, there are so many things to learn, and generations have reacted differently to these new steps.
One thing is for certain: paying with crypto for everyday shopping is becoming commonplace in many countries. Whether you’re a Gen Z, a Millennial or a person on the more mature side, crypto has something in store for you: a new way to process payment without a third party deciding for you.
