Not everyone will invest in the crypto sector in the same way. First, not everyone has the height and time to become a (true) profitable trader. However, the relationship with these digital assets is maintained because they are highly dependent on the generation to which they belong. And, with exceptions, this reality means an increasingly close reconciliation, as the end of the alphabet represents itself. According to a recent survey, 28% of Gen Z members are considering this type of investment to meet their retirement financial needs. And they are not alone …
Investing in the crypto sector can have two completely different professions. The first is to try to get rich as soon as possible by using active trading activities. But if this isn’t accompanied by minimal training and (very) cold blood, you risk losing everything just as quickly. And in the form of an innovative digital retirement savings plan, it’s second closest to long-term investment. I know that one of these activities does not completely exclude the other, but I still have to choose the side.
The adoption of cryptocurrencies by the new generation is not just in the form of trading activities. There are no violations of regulatory agencies that sell their relentless crackdown behind the security envisioned for investors. Indeed, recent research conducted in the United States by the Investopedia site reveals new trends in this area. Generation Z (ages 18-25), Y (ages 26-41), and Generation X (ages 42-57) have come to see cryptocurrencies as an interesting investment for retirement funding. The latter was considered as expected in most cases.
Raise Your Retirement Fund with Cryptocurrencies
Therefore, this survey is from a financial website called Investopedia. The latter was presented in the form of “investment dictionaries, advice, reviews, ratings, and comparisons of financial products.” »» A survey of 4,000 American adults Baby boomer generation (58-76 years old) Next, what is represented by the letters X, Y, and Z. Certainly a spontaneously complex title, “Financial Literacy in 2022”.
“” Our 2022 financial literacy survey found that Americans are at the same time trying to understand the basics of personal finance, thinking about their retirement, and investing in cryptocurrencies. They also learn differently than the older generation.“”
In other words, the ability to understand and use information in a particular area in simpler terms. The summary of this report emphasizes cryptocurrencies that most of the respondents have a “basic understanding”. »» But above all, as a project to “use them as a source of funding for retirement funds.” »»
With the share of related investors It is almost inversely proportional to the distance maintained by this deadline... This is 20% (X) within the generation, with millennials (Y) at 28% and the youngest generation (Z) at 17%, the largest share. And, “The baby boomer generation who believes in their stocks and investment trusts will offer the best returns in 10 years.” Thank you, see you again …
Cryptocurrency – Obvious lack of training
However, another trend emerges from this inventory edited by the Investopedia site. And it is summarized in a clear and widespread lack of knowledge and training in the areas of investment and cryptocurrencies. A total of 57% of respondents are investing in finance. However, only one in three claims to have “advanced knowledge of investment.” And while cryptocurrencies are ranked alongside stocks as some of the most popular assets, 49% of respondents say they only have a “beginner level understanding” of the industry..
The situation confirmed by the sources used by the younger generation to obtain “information” in the field. This is because 45% of Gen Z members are aware that they are using YouTube. But the rather scary 30% say they trust social media influential people like TikTok. The last case that turns out to be a rarely good choice! And “technology” (47%) that has already been abandoned by the previous generation (Y), who seems to prefer personal research on the Internet. However, it also depends on YouTube (40%).
In summary, investment in the crypto sector to subsidize severance seems to be increasing. However, this should not be done to undermine at least the minimum knowledge of this sector. It’s not enough to buy shit to get rich in decades. Especially when it seems that the activity can be stopped before the purpose reaches 60 years. And that’s another argument …