Millennials Adopt Cryptocurrencies to Safeguard Their Future
As its 10th anniversary approaches, cryptocurrency is enjoying increasing support from millennials.
Since Bitcoin’s arrival, the crypto industry has grown to almost 2000 currencies [at the time of writing], creating new entrepreneurs, startups and jobs.
Millennials are the driving force behind the growth of crypto and blockchain technology. According to Simon Yu, CEO of blockchain startup StormX, “millennials embrace change” and are always looking for “new opportunities for themselves”.
In an interview with Forbes, Yu said that millennials are “welcoming blockchain technology with open arms” as it challenges the traditional 9-5 working lives of previous generations.
Chris Castiglione, who teaches a Bitcoin & Cryptocurrencies course through his online platform, One Month, agrees with Yu. He says: “Gen-X are more likely to be settled down with careers and young families. Therefore their priorities differ from millennials, as they become less inclined to dabble with high-risk or volatile products or services.”
“I think the crypto market is attractive to millennials because it’s a space with both a lot of growth and risk," he continues.
But both Yu and Castiglione agree that age shouldn’t be a defining factor for interest in the industry and investment into cryptocurrencies, noting that Gen-X are well positioned to create opportunities for themselves in blockchain technologies and crypto.