Social trading platform eToro published the results of a study earlier this week revealing that nearly half of all online millennial traders residing in the United States have more trust in cryptocurrency exchanges than in stock market exchanges.
More specifically, the results of the study showed that “two-thirds of Millennial crypto traders say they have more faith in crypto than the stock market,” and that “even among Millennials that don’t trade crypto, one-third said they would trust crypto over the stock market.”
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A new study by eToro shows:
– 93% of millennials would invest more in crypto if offered by traditional fin. institutions
– 74% of crypto traders are interested in crypto option from their 401k provider.
J.P. Morgan recently became the first U.S. bank to create a digital coin.
— eToro US (@eToroUS) February 20, 2019
On the same note, the study found that millennial investors are interested in cryptocurrency-based financial products from financial institutions, including crypto-based loans and cryptocurrency 401k contributions.
More Investors Will Continue to Pour Into Crypto Space
Hirsch predicted that the number of young investors who have holdings in cryptocurrency would continue to grow as more of them become educated about cryptocurrency and more investment products are offered. “We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges,” he said.
And indeed, the number of investors of all ages who have put their money into cryptocurrency has continued to grow. A similar study conducted by the Cambridge Center for Alternative Finance in December of last year revealed that in spite of the bear market, the number of verified cryptocurrency users increased two-fold during the first nine months of last year.