A new report called “Millennials with Money” has found that a quarter of American millennials in their findings are now crypto users in some way.
The report also showed that an additional 31% of American millennials in the study were interested in using cryptocurrency.
America’s Young Millennials and Crypto Usage
The“Millennials with Money”
report from American PR and marketing consultancy Edelman, has unearthed some interesting figures in regards to crypto usage amongst American millennials.
The findings have shown that affluent millennials within the 24 to 38 age bracket who have made $100,000 or have $50,00 in assets are massive proponents of cryptocurrency usage. With 25% of millennials in the survey already holding or trading crypto and another 31% who would be interested in using crypto, the message from America’s millennials is clear.
The figures may come as a surprise to some, but not for Edelman’s own Global Chair of Financial ServicesDeidre Campbell who said:
“Anyone that has crypto tells me they wish they bought it sooner.”
Millennials Are Skeptical of Financial Services
Although the report
showed that millennials are more likely to use crypto than any other generation, they are more skeptical in regards to financial services and blockchain technology.
Campbell went onto explained why she thinks even though millennials are skeptical about financial services, they are still attracted to the appeal of crypto and blockchain tech:
“I think it’s a sense of a younger generation being open to more risk in their portfolio and willing to try new things with crypto.”
Other interesting findings to come from the report include the fact that three-quarters of the Millennials in the survey think that it is only a matter of time before another financial crisis takes hold. 75% of the millennials surveyed were concerned that worldwide financial systems will be hacked in the future.
The main sentiment to come from the report is that although millennials are open to embracing newer solutions such as crypto, they do not have the same trust in the financial markets as generations past.