Sure, boomers might not be so into cryptocurrencies, well, some are quite familiar with the market and have managed to accumulate a substantial amount of wealth. Crypto is more of a popular thing among younger generations. Millenials. Perhaps older individuals don’t really have a taste for the market’s volatility.
But why do millennials favor crypto over stocks?
Well, for starters, the lives of most millennials have no really been tied to the traditional stock market. Most millennials are of a relatively young age. Perhaps they were just entering college, high school, or leaving them during the great stock market dip of 2008.
According to our previous coverage on the matter, millennials lean quite favorably towards investing in cryptocurrencies. Though, it can indeed be assumed that this stems from a lack in trust towards big banks and the power placed upon them to cater to financial operations.
Cryptocurrencies seem to resonate with young adults because of their “anti-establishment” nature and relative freedom that they provide.
Many millennials are not going to miss out on the gains.
But actually, the biggest reason that many millennials prefer throwing their money into the cryptocurrency sector rather than the traditional stock market is due to the significant amount of money that can be made in a rather short period of time.
For example, let’s take a look at the explosive growth demonstrated by Tron (TRX), a cryptocurrency which demonstrated absolute stupendous growth in a very short period of time.
So, obviously, the temptation of receiving such returns is high. Especially when you consider that all one must do is some research and execute a few clicks. As well as no requirements to have an above average understanding of the technology.
However, despite the possibility to make substantial gains, it’s quite likely that as millennials get older, their investments will too become a bit less risky.
For more info on how to trade cryptocurrencies, check out this article on Cryptona: How to make money investing in cryptocurrencies.