Is Cryptocurrency taking over Traditional investment methods ???

clock AUTHOR : TEAM VYNK CHAIN   clock Oct 31,2021
Cryptocurrency, the next big thing in the world, is all set to take over the traditional investment methods like stocks, bonds, fixed deposits (FD), real estate, and many more. And it is already halfway through as it has attracted the major part of the population — the youth.

According to the CNBC Millionaire Survey, nearly half of millennial millionaires have at least 25% of their wealth in cryptocurrencies. And more than a third of millennial millionaires have at least half their wealth in crypto and about half own NFTs as well.

The next-generation investors (GenZ investors) prefer to invest online rather than going to banks and standing in long queues. And cryptocurrency has made this as simple as posting on Instagram for them. That’s why Gen Z and young millennial investors, from teens to those in their early 20s, are bullish on cryptocurrency and blockchain- the technology that surrounds it.

They are going hard on digital coins like Bitcoin (BTC), Ethereum (ETH); altcoins like Binance coin (BNB); meme coins like Dogecoin (DOGE), ShibaInu (SHIB), and on non-fungible tokens (NFTs) and decentralized finance (DeFi) as well.

There are several reasons why young people have shifted to digital investments instead of traditional investments and they are listed below:
  1. Most of them don’t trust traditional investment institutions anymore. They just don’t want to rely on someone else’s analysis and research and want to use their own insights and knowledge for their investments. In this way, they are keeping track of where and how their money is performing and it also reduces the extra fees of financial advisors.

2. Many have a genuinely positive outlook on blockchain technology and they wholeheartedly believe in its concept.

‘I’m never selling because I believe it’s the future of finance and can see the long-term applicability and use of crypto,’” Reichel, a cryptocurrency investor since 2016 said this. And this is how some people are so deeply indulged in cryptocurrency that they are willing to lose all their money but never think of selling them.

3. On the other hand, some people are investing in crypto just to become millionaires or billionaires overnight without even knowing the basics of it. Although some young traders bet on altcoins and have earned millions overnight, but this is rare, very rare.

4. For most people, cryptocurrency is acting as a virtual bank or Paypal but with lesser transaction fees and higher speed. Cryptocurrency is creating financial accessibility and equality for everybody by allowing people who don’t have access to traditional methods like banks to transact within or outside their country. And with crypto, the barrier to entry is so low and easy that people who are unbanked or didn’t have the proper resources or education to operate a bank account are also dealing in it.

5. Some people believe that concerns over inflation are driving GenZ’s interest in cryptocurrency. Also, the sudden shift of democratized ownership along with 24/7 trading has just boosted up the interest of the internet-savvy generation.

6. GenZ people are also feeling disconnected from traditional investments as there is no fun or relatable element there. They don’t find stocks or FDs or other investment systems relatable to their real-life and that’s why they are shifting to meme coins for fun. The young generation as you all know is consuming memes like it’s their oxygen and what’s great than investing in similar memes?

Memecoins also take away those super scary aspects of fundamental and technical analysis as you are not investing anymore to get returns.

7. Few people are investing just to get that adrenaline rush when some of their invested coins go up or down. Yes, around 5% of cryptocurrency investors admitted that they are just into this space for the adrenaline rush and not to make any money out of it.

8. While some are only investing due to fear of missing out (FOMO). They just want to be a part of a particular community their friends or parents or relatives are part of.

Still wondering where to start your crypto journey? Allow us to introduce you to a new token called VYNC that is proactively getting great response globally, it is gaining a lot of demand on crypto market as the coin comes along with its own platform. Check out the website to know more

All these factors have attracted GenZ and are now attracting more and more aged investors too.

Category : Token



Note : Please Login First To Comment On Post ,Comment Will be Shown After Admin Approvel.

tag : Post Tags

Latest version of Whitepaper will be updated soon.