Aussie Millennials riding the crypto wave
Sophia Cruz • 1 min read
Technology is in great demand, in spite of the fact that the price of cryptocurrencies surged several years ago. According to a Piplsay study, almost half of the population of crypto users in the world are millennials.
New research has found that approximately 4 million millennials from Australia are more likely to invest in cryptocurrency. This group of people is continuing to grow in numbers, as they deeply understand the world of crypto investment. Men are fonder of buying cryptocurrency than women. Men extended 27% of the population to millennial investors while women reached only 14%, in accordance with the study conducted.
It is more common in Australia, where wealthy people are likely to own cryptocurrency with an income of well above $100,000 compared to those who have an income of $99,000 or below.
Cryptocurrency vs. Real Estate
According to Kraken’s survey conducted In Australia, 2 out of 5 millennials go for cryptocurrency rather than investing in real estate. Even though investing in cryptocurrencies presents a high risk yet high reward scenario, they believe that their digital assets will provide them with income in the long run.
Even though cryptocurrency is not everyone’s rational choice for investment, there are still people who think that investing in digital assets is a much better option than other forms of investment, such as real estate and bank accounts.
According to Kraken’s Australian director, the adoption of cryptocurrencies in Australia is growing at a fast rate. The crypto demand in the country is driven by the younger generations, such as the Millenials and other younger groups.