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December 5, 2022
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Millennials or Xennials or Generation X: which group loves cryptocurrency the most?

Millennials are the generation group that invests the most in cryptocurrencies, while xennials earn the most profits, a study revealed.

According to a recent survey, millennial investors allocated 12% of their wealth to the digital asset market, while xennials and generation X distributed 9.2% and 6.3% respectively. However, those born between the late 1970s and early 1980s profited most from these investments.

Millennials or Xennials or Generation X: Which group loves cryptocurrency the most?

  • Intergenerational cryptography trends.

The exchange of cryptocurrencies Crypto Vantage conducted a study to determine which digital assets each generation favors, why they entered crypto space, and what part of their wealth they allocated to the market. Millennials or Xennials or Generation X: Which group loves cryptocurrency the most?

According to the results, Generation Y investors have 12% of their total portfolio in virtual currencies. So they came in first in that stat. Xennials, or those in their 40s, have allocated 9.2% of their resources, while Generation X exposure is approximately 6.3%.

Despite investing more, millennials are not the leader in terms of profits. Nearly 76% responded that they gained from their investments, while xennials came in first with 80.5%. In Generation X, the numbers were 71.5%.

Bitcoin is everyone’s preferred investment asset as around 60% of each group has chosen it. Ethereum is the second for millennials and Generation X. Interestingly, it is the fourth choice for xennials who tend to go for Bitcoin Cash and Dogecoin.

The most popular trading platforms among the younger age group are Coinbase and Binance. Xennials deal with digital assets in Bitcoin Ira and Binance, while Generation X prefers Bitcoin Armory and Coinbase.

CryptoVantage asked participants what their reasons are for investing in cryptocurrencies. Curiosity was the main response from all groups. The belief in high returns came in second. Surprisingly, 18.5% of senior investors believe virtual assets will be the currency of the future and ranked this answer as the third most important reason to get on the cryptocurrency train.

Rich Millennials are interested in digital assets

According to another survey, 47% of millionaires born between the early 1980s and early 1990s invested at least 25% of their wealth in the cryptocurrency market. By comparison, more than 30% of them have allocated at least half of their assets to digital currencies. George Walper – president of the analysis company Spectrum Group – explained:

“Younger investors jumped on it early on, when it wasn’t well known. They were more intellectually involved with the idea, even though it was new. ”

On the other hand, most older investors who have at least $1 million are not very fond of cryptocurrencies. 83% of them do not believe in the market and do not distribute resources in it. Only 1 in 10 keeps more than 10% of their wealth in virtual currencies.

“Older investors and boomers were largely saying, ‘Is this legit?’ The older generations are even further behind in understanding,” Walper concluded.

Source: CryptoPotato

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