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Millennials prefer Bitcoin

The millennials are investing their money in Bitcoin - leading digital currency instead of opening traditional bank accounts.

02.Dec.17 12:12 PM
By Daria Zaytseva


Millennials prefer Bitcoin

They argue that they earn more from their investments in bitcoin, and their money is safer, according to a survey.

Based on a survey conducted by Blockchain Capital, 70% of 10,000 millennials who were interviewed said they were not happy with the interest rates offered by banks, and almost 65% said that their money is safer in Bitcoin because they personally control it. The study also showed that almost two-thirds of female respondents have begun to move away from Bitcoin and invest in other digital currencies in order to diversify their portfolio.

In spite of their preference of Bitcoin as a form of investment, just under 50% of the millennials surveyed said they are also looking for a more convenient form of banking, and 45% said they want their banks to integrate Bitcoin wallets into their activities, that they can directly invest in cryptocurrencies through their bank accounts.

The survey also showed that the most of millennials will invest about two-thirds of their savings in virtual currencies. According to the site's founder Andrew Sung, the results of the survey showed that the younger generation is using new technologies much faster than their old counterparts.

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