CRYPTO POPULARITY AROUND THE WORLD
Survey reports from South Korea, the USA and the UK
CCN.com’s journalists looked around in the world, comparing how the popularity of crypto-currencies differ in various age groups in different countries.
They found that according to South Korean news agency, Yonhap’s survey on crypto-currency investment, people in their 20s are the real fans. The results are not surprising – younger generations, irrespective of where they live in the world, prefer investing in this new industry. Stocks and bonds are for older generations, in their opinion.
2,530 people were surveyed in South Korea, between the ages of 25 and 64. The focal point of the survey was the question “Do you buy crypto-currencies?” The results show that 22.7% of young people in their 20s said yes, making this generation the winner. 19.3% of people in their 30s answered yes, 12% of 40s, 10.5% of people in their 60s and 8.2% of 50s.
What’s also interesting is the size of investment in crypto-currencies.
It is the 60-year-olds in South Korea who invest the largest amount of money in crypto-currencies. The average investment among them was about $6,000. 50-year-olds invest around $5,800 on average, 40, 30 and 20 year olds invest $3,900, $3,700 and $2,700 respectively. About two thirds of those who buy crypto-currencies buy them as a means of investment, and one third buys crypto to pay for goods and services in South Korea.
Blockchain Capital targeted over 2,000 Americans from ages 18 to 34 in November, 2017. Although, according to the results, every third person “would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks”, only 2% of them actually owned crypto-currency currently or in the past.
London Block, a UK-based crypto-currency exchange carried out another survey, interviewing 2,000 people in December, 2017. According to the results, 5% of those below 45 years of age in the UK were investors in crypto-currency, and twice as many were planning to invest next year. It was also reported that one third of people in their mid-30s are likely to make crypto-investments in 2018.
Behind that generation’s tendency to turn towards crypto-currencies there is a simple fact, as far as cryptocurrency expert Garrick Hileman sees it: “ /They/ began their income generating years during the fallout from the 2008 financial crisis, and many don’t completely trust traditional financial services or the system in which they operate.”
Well, they are not the only generation that has lost its faith in traditional banking…