ICOCalendar.Today

  • ICO Directory 📖
  • ICT Token 🔥
  • Blockchain News 🗞
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project 💣
  • Submit Press Release 👍
  • ICO Directory 📖
  • ICT Token 🔥
  • Blockchain News 🗞
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project 💣
  • Submit Press Release 👍

Bitcoin Is The Answer: Survey Results Reveal Growing Millennial Distrust in Big Banks

6/21/2020

Comments

 

Millennials like many things, like avocados, Telsa, Beyond Meat burgers, and Bitcoin. What they don’t like, is big banks.

New data shows that distrust in big banks is growing amongst the age group, rising by 29% over the last several years since the crypto bubble.

Millennials Prefer Crypto, Boomers Stick With Stocks

While Baby Boomers have always preferred the stock market and traditional equities, millennial distrust towards big banks and Wall Street have led the consumer group toward emerging assets like Bitcoin and other cryptocurrencies.

Retail investors among this age group dominated the early adopter user group that helped fuel Bitcoin’s rise throughout 2017. At peak hype an exuberance, a survey questioned a variety of age groups regarding the then flaming hot cryptocurrency.

Related Reading | Data Shows Crypto More Likely To Pump Following Consolidation, 20% Move Anticipated

Of the respondents, only 18% said they would trust Bitcoin over big banks.

Among Bitcoin’s many beneficial attributes, its trustless, decentralized design remains one of its most valuable. No third-party can control the network, nor can a third-party stop it.

Other aspects of its design allow users to be their own bank, removing the need to rely on big banks that greedily influence monetary policy.

bitcoin millennial distrust big banks

Survey Reveals Majority of Millennials Trust Bitcoin Over Big Banks

Today, the survey shows a massive boost in those trusting Bitcoin over big banks. The number has risen by 29% to 47%, just three years later.

The information is particularly interesting because the previous survey was taken during a time there had never been more hype for the cryptocurrency.

Over time, have more investors learned more deeply about the asset’s potential benefits? Or could a sudden shift in distrust in governments and big bank buddies have caused a significant skew in results?

Related Reading | This Volatility Measuring Tool Is Signaling One of Bitcoin’s Biggest Moves Yet 

The data also shows that the majority of millennials polled prefer trusting Bitcoin over big banks, while Baby Boomers prefer big banks over Bitcoin by far.

Additional data indicates that this age group in particular may help further adoption in the coming years. 14% of millennials claimed they already owned Bitcoin, while 44% say that they plan to within the next 5 years, paving the way for significant future adoption.

Data shows that if cryptocurrency technology follows the path of the internet in terms of adoption rate, it could reach a similar level of adoption by the year 2043 – reaching nearly 50% of all consumers.

However, quickly growing distrust in the government and big banks, among other reasons, may have caused adoption to hasten.

Recently, the leading cryptocurrency by market cap was mentioned on-air by protesters suggesting it is just one of many ways individuals can “opt-out” of the current, dangerous monetary policy and manage your own finances.

A wave to distrust is spreading across the world, and as things potentially get worse, more users could turn to a trustless store of wealth like Bitcoin.



Via https://www.newsbtc.com/2020/06/21/bitcoin-survey-millennial-distrust-big-banks/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-survey-millennial-distrust-big-banks
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.