Why do younger people engage more with bitcoin?
When we think about the Bitcoin Community, certain peculiar affinities emerge, as we saw in one of my previous posts.
There are some well-defined age groups that engage more than others with Bitcoin.
Statistics from Google Analytics (via coin.dance) show that Millennials have a better relationship with Bitcoin (and other cryptocurrencies).
The Millennial Generation is made of individuals born between the early '80s and 2000.
The reasons for such an engagement can be found in the natural predisposition for new technologies and the higher revolutionary tendency of the younger generations. Often they still are in the "first investment phase" and they can be wary of the traditional banking system.
Also, one of the strongest reason for this kind of engagement is from populations of young countries where unemployment and inflation are very high, often with not so democratic governments. Another reason is that foreign workers have the need to transfer money to their home countries without being depredated by costly commissions. That's why it is all but surprising to find that age groups between 18 and 44 represent more than 87% of people engaging in Bitcoin.
The graph below shows how the various group ages engage with Bitcoin
Young ppl are more open to embracing new technologies. Older ppl are more conservative with their money.
I want to oversimplify: young people have less money but more attitude for change, while older people have more money but they are conservative :) so I admire older people who has insane curiosity for new things
young people are more acceptable to new tech. how bitcoin and altcoin works attract young people.
thanks for commenting on my post, I agree with you and hope the vast majority of young people can have access to new technology
this only apply to developed or developing country. 3rd world country are excluded. mostly are they dont have or under developed network system to start with.
Nice post!
thanks for taking the time to read it
Certainly I think that the familiarity with digital technology is a major factor in the adoption of bitcoin (and other crypto-currencies) by young people. Older people are just as unused to using bitcoin as younger people would be to writing a check.
agreed, I don't write a check since 2011 :)
I guess also millennial now have more access on the internet and also they are on the trend.
you are right...access to the internet has a key role in the movement. I live in Italy and I must say there is plenty of room for improvement
Interesting stats. I was surprised by the 35-44 percentage, expected college kids to be a bigger percent.
yes, probably college kids have less money to invest (even if in reality you can buy just a fraction of bitcoin and not a full bitcoin) or they are not so interested in investments
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