Crypto Trends for Gen Z
Sugar Magazine, the pursuit of financial independence and openness to disruptive technology are driving this generation’s embrace of cryptocurrencies. This is causing them to challenge traditional banks, redefine how they invest and create new ways to make money. In turn, this is accelerating the evolution of decentralized finance and modern digital payment systems.
Gen Z is a digital-native generation that has grown up with the advent of mobile technology. They’re familiar with the use of peer-to-peer payment apps like Venmo, Cash App and Zelle and prefer to bank through digital-only banks such as Chime, Revolut and Monzo. They use budgeting apps, robo-advisers and fintech platforms that incorporate cryptocurrencies into their core functionality.
Crypto Trends for Gen Z: How the Youngest Investors Are Shaping the Market
As a result, they are much more likely to own cryptocurrencies than previous generations, according to the Gemini State of Crypto report which surveyed 6,000 adults (crypto owners and non-owners) across the US, UK, France, Singapore, and Turkey. They are also more optimistic about regulation of the industry than older generations.
The report also found that less than a third of Gen Z – 32% to be exact – work with an advisor. Nevertheless, as they continue to mature and accumulate wealth, their affection for crypto could drive them to hire advisors in higher numbers than other generations. It’s important for advisors to understand this emerging investor group and the factors that inspire their interest in cryptocurrencies. In doing so, they can create strategies that meet their needs and better position themselves for long-term success.
