Millennials Out There Believe More In Crypto Than Stocks
Millennials are the best hunters we have seen in this world. Do you realize how many industries they have colonized?
Business Insider even wrote an article with the headline “Millennials are killing 'many' industries” - then goes on to list 19 industries to beat. Some of the largest are housing, department stores , and the billion dollar cereal industry.
Maybe it's time to add another industry to the list: the stock market.
Yes, millennials may be preparing to kill Wall Street. But why? And how? Here are 5 reasons why Wall Street might turn into Broke Street - and how the cryptocurrency story became.
The Strength of Bitcoin
In recent years, Bitcoin has made more profit than stocks. Even if there were people who bought BTC at an all-time high (with the exception of the last one) and HODL (Hold On For Dear Life) people who kept Bitcoin - right now they are likely in the green. From 2011 to 2018, Bitcoin has provided the following profits to investors:
| Year | % |
|---|---|
| 2011 | + 1,473% |
| 2012 | + 186% |
| 2013 | + 5,507% |
| 2014 | - 58% |
| 2015 | + 35% |
| 2016 | + 125% |
| 2017 | + 1,331% |
| 2018 | - 72% |
This is a strong profit line against any asset, stocks, bonds, derivatives and currencies.
In fact, according to CryptoManiaks, "A $ 50 investment in 2009 could earn you a net $ 100 million at the peak of Bitcoin in 2017."
Now Bitcoin is starting to fly high again - and the network and its adoption continues to increase. There are also more and more user-friendly wallet services , applications, and all kinds of resources that serve Bitcoin. Plus, big investors who are very smart and have very good finances are starting to seriously consider investing in Bitcoin.
Bitcoin becomes a retirement portfolio item
What's the story? Bitcoin is a highly volatile asset? How do you become part of your retirement portfolio? What if, for example, the value of Bitcoin drops and I end up having nothing? Two things can explain:
Millennials are still very far from retiring. They can take risks. Plus they have lived through the housing crisis - caused by bankers and brokers playing fast and loose with stocks and other “traditional” and “safe” investment classes. Most millennials have seen “safe” investments such as houses close and stocks sink - so to say Bitcoin's volatility and risk are not that different.
Bitcoin's starting price is close to 0. As a new asset class, it is natural to show so much fluctuation. This is called "price discovery" - where the market grows, matures, and finds a price at which Bitcoin will eventually land. This is a natural phenomenon of digital assets appearing without a predecessor. Once the market is spread across the globe and reaches liquidity, security and regulatory guidance globally, a more mature Bitcoin industry will take shape - with a more stable price tag. When millennials hit 68 - a mature Bitcoin market is a possibility.
Gold for grandparents
Millennials grew up at the start of the internet era. They are shaped and transformed by the digital world. Millennials who play online games can buy and sell their gaming needs at online outlets. Pay using GoPay, OVO, and mobile banking. Their money and assets are firmly connected to the digital world.
Gold looks very… old. If the millennials' money is all stored online in mobile banking and they use digital tools to pay for daily necessities such as food to transportation - why should they buy chunks of metal and find a safe place to store it ??
Bitcoin looks more natural for millennials. The currency of the digital world. Additionally, 1 Bitcoin is currently worth more than 1 ounce of gold - and it's increasing slowly. This is a significant change from traditional investment logic. Bitcoin's portability, security, and global nature are becoming increasingly attractive to millennials who are putting their money aside for investment.
Now that the world is facing increasing instability and geopolitical uncertainty - the real test of Bitcoin as a hedge against gold has begun.
Crypto trading is easier
Stock trading is not easy. Of course there are platforms that support it - but creating an account and going through all the learning process takes a long time. And for what? 10% per year? Or if you trust your assets to be traded with other people, are you sure it is safer? Of course not, you better take control of your own assets.
Cryptocurrency trading can be an easier alternative - especially for millennials who are growing up in the digital world, the concept tends to be more natural and easy to understand. Take control of your assets and start earning. How about the education? Let Bitocto Exchange help you learn, for FREE!
24/7 crypto market
Another important thing that millennials take advantage of is the difference in trading hours on stocks and Bitcoin. Traditional exchanges have their own trading sessions. In the United States the stock market is open at certain hours and closes on time - and there is no trading on weekends and public holidays.
Meanwhile, the crypto market provides 24 hour access. So that everything in the real world has a direct effect on prices. If a millennial is in front of their computer or even their cellphone, decisions can be made quickly to start earning based on the analysis they get. It may seem tiring, but the benefits are worth the effort.
Millennials are starting to create new asset classes and kill stocks slowly out there. Not only stocks, there are other inventions that make it easier to kill various industries out there.
Because millennials have faith and belief in the new digital world - a world with unbiased mathematics and digital scarcity. And so far, it hasn't let them down.
Conclusion
If you are a millennial, what are you waiting for? Be a part of the financial future. Start investing in your cryptocurrency, and have complete control over your assets, wherever you are. Using a PC or cellphone is not a problem!