Digital currencies grew significantly in 2021 and have risen 154% since January 1. On August 18, Cryptovantage published a study showing that one in four cryptocurrency investors said they made money from their cryptocurrencies and that cryptocurrencies account for 12% of the average millennial portfolio.
Four out of three digital currency investors benefited
Following a recent Cryptovantage study that forgot encryption passwords, the company released another survey that surveyed 1,044 people born between 1965 and 1997. The survey explains how they are investing in millennial, xennial, and Gen Xers digital devices. “The popularity of crypto tools has changed with age,” explains the new Cryptovantage report “Generational Philosophies on Investing in Crypto.”
“Crypto assets accounted for 12% of the average millennial portfolio, compared to 9.2% of the average xennial portfolio and just 6.3% of the average Gen Xer portfolio,” the study details. “Despite this increased participation, millennials are not the most likely to make a profit from investing in cryptocurrencies. Xennials, with the highest total investment, were most likely to have an 80.5% return on crypto assets, compared to 76.2% over millennia and just 71.5% for Gen X. The survey adds:
It’s worth noting that overall, one in four people have benefited from cryptocurrency investments.
Bitcoin is the most popular digital device, Xennials prefer Bitcoin Cash, Dogecoint
The survey shows that bitcoin (BTC) was the most popular among all generations of participants and, in addition to BTC, Millennials and Gen Xers preferred ethereum (ETH). Xennials, on the other hand, opted for bitcoin cash (BCH) and dogecoint (DOGE) over ETH. Most Millennials have chosen to take advantage of services like Coinbase, and many xennials prefer services like Bitcoin IRA.
While the report notes that most of the participants detailed that “curiosity” was the main reason for investing, the second most popular reason was high returns. Approximately 39% of the 1,044 respondents also explained that Elon Musk benefits the cryptocurrency ecosystem.
“Xennials were more likely to start investing in cryptocurrencies because they believed it would offer security and transparency and give them greater independence,” wrote the author of the Cryptovantage report. “Generation X was the one who least believed in the same ideas; however, both millennials and xennials were more likely to view crypts as the currency of the future. “
What do you think of the study, which shows that one in four crypto investors have benefited from crypto investments? Let us know what you think on this topic in the comment section below.
Image loans: Shutterstock, Pixabay, Wiki Commons, Cryptovantage.com,
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