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Encrypt money market main force? The survey shows that one-third of Millennials plan to invest bitcoin in 2018

London Block exchange recently conducted a survey of 2,000 British people. According to the survey, 5% of the respondents under the age of 45 invested in a cryptocurrency, and 11% plan to invest in cryptocurrencies next year. In addition, 17% of respondents are seriously considering investing in a digital currency plan next year. The study found that one-third of millennials (born between 1980 and 2000) will invest in cryptocurrencies in 2018.

Millennials prefer encrypted currency investments

LBX, the UK cryptocurrency trading platform, sees millennials preferring cryptocurrency investments because old forms of investment do not meet their needs. The founder of LBX believes that this survey demonstrates the difference in positioning of monetary values ​​between the younger generation and their parents and grandparents.

During the survey, 24% of millennials under the age of 35 regretted they did not start investing in cryptocurrencies earlier.

Although this survey is conducted on British subjects, some institutions and individuals conducted similar surveys and studies in different countries. The final result is also consistent. Ron Paul, a former member of the U.S. Congress from Texas, recently launched a vote on social media with 43,000 participants, showing that compared with gold, U.S. bonds and the dollar, 51% of people prefer to hold bitcoin .

Harris Poll also recently launched a survey of 2,000 American adults who found that 50% of millennials had good prospects for Bitcoin. Compared with older people, millennials are twice as likely to hold digital currencies. Spence Bogart, managing director at Blockchain Capital, said the result validates their belief that Bitcoin will face significant opportunities in the future.

Mistrust of traditional financial services

According to Garrick Hileman, a Cambridge University researcher and cryptocurrency expert,

Most of the millennials started their work after the 2008 economic crisis, and most of them did not trust traditional financial services or their operating systems.
Cryptocurrency is independent of the existence of a centralized financial institution. Therefore, digital currency represents tremendous potential, attracting a large number of young users.

Young people are the opposite of older people. In the LBX survey, 57% of those over the age of 55 said they would not buy digital money. In Harris Poll's survey, 92% of people over the age of 65 considered large banks to be more credible than digital currencies.

Digital currency investment is adventurous?

Although one-third of millennials will invest in the cryptocurrency market by 2018, economists believe digital currencies such as Bitcoin are still very risky. Many people are worried about the cryptocurrency collapse.

According to Laith Khalaf, senior analyst at Hargreaves Lansdown, anyone who invests in Bitcoin should understand how the investment works and what drives price changes.

They should also be prepared to take on the huge losses caused by cryptocurrency volatility. If they buy bitcoin-related products, they should make sure they understand how they work, the risks themselves, and every aspect of bitcoin.