Sunday, 15 Sep 2019
Technology

Millennials With High Income Are More inclined towards In Crypto Investments, Survey Says

A recent study by the blockchain company Clovr found that investing in cryptocurrency is the most popular among millennials that earn between $ 75,000 and $99,999 per year. The survey got responses from more than 1,000 Americans that fall in the age band between 18 to 80 Years.

Millennials With High Income Are More inclined towards In Crypto Investments, Survey Says

According to the survey, men are almost two times probable as any other generation to put money in digital currency, this includes 23% of women and 43% of men investing in cryptocurrency. Around 47% of people with yearly wages of less than $75,000 invested in digital assets, while lower than a quarter of those earning $25,000 said they could invest heavily in cryptocurrency.

As per the data from the US Bureau of Labor Statistics, the average weekly gain in the Q2 of 2018 for a man between age 25 to 34 was $857 or more than $ 44,000 per year.

Nearly 40% of respondents mentioned their peers’ influence as the primary motivation for investing in cryptocurrency, and more than 35% would have been drawn into the crypto market owing to the trepidation of missing out an opportunity.

Research has shown that digital currencies were normally known among the high number of people, while around 75% of respondents said they are familiar with the cryptocurrency, and rest of 20% stated that they know the updates about the happenings in cryptocurrency world.

When asked about their investment in cryptocurrency, nearly 80% of respondents said they have concluded to put money in cryptocurrency as an optimistic way to take risks. The study also points out that 1 out of 3 of the people hold an opinion that investments in cryptocurrency are an innovative alternative in contrast to bonds and stocks.

A survey published in September by the YouGov Omnibus research bureau has revealed that half of the US-based millennials are interested in using cryptocurrency.

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