This generation believes in getting everything in just one click. Let me elaborate on this a bit. We millennials prefer doing everything digitally whether it’s buying groceries, medicines, books, or whatnot. So, how can we not expect to invest digitally? In recent years, our traditional banking system is getting replaced with net banking. Now, we don’t need to go to banks, stand in queues and fill long forms. All of these are replaced by simple clicking.
You can lose funds investing in bitcoin, this generation has an opportunity to invest digitally. Cryptocurrencies have a history of one decade full of financial Ups and downs. Instead of this, this generation trusts cryptocurrency more than other investment methods.
Every trend and survey says the same, Cryptocurrency has a large user base but the question here is why?. There are mainly three reasons for this which explain why cryptocurrencies are important for the current generation.
Cryptocurrency gives high investment returns
This generation is considered quite impatient when it comes to investment and returns. We cannot wait for years to let our money grow. We believe in quick riches, well this is not possible with traditional investment methods. When we invest in our traditional method, they follow a pattern and take years to grow. These methods could be considered a safe investment but not a wise one.
On the other hand, Cryptocurrencies yield good investment returns. Bitcoins from their launch reached an extreme height except in 2018. Bitcoins give a return of 400% which is far more than other investment methods. The same is with Ethereum, it too gives a good return on investment. Even other smaller cryptocurrencies can also give good investment returns. Although they are not very popular and not widely used.
Trends show investment methods like stocks, and other traditional investment methods cannot even give 1/10th of cryptocurrencies return. Unlike cryptocurrency, these methods take years to grow. Now, we can understand how cryptocurrency is an exception in terms of quick riches but it doesn’t mean your money will double in a day. It takes some time but not years and gives a very high investment return.
Cryptocurrency is a safe and easily accessible investment method
The biggest flaw of cryptocurrency is that it is a volatile currency but instead of this it is safe to invest. Most people of our generation do not want to go to banks multiple times to find a way to invest their money. We want a method that is easily and globally accepted, and this quality is in cryptocurrency. To invest in stocks and other traditional investment methods, we need to be very much aware of the scams and frauds going on around. Instead, cryptocurrency is based on blockchain technology which makes it safe to use for commercial purposes or trading.
Even using cryptocurrency is very easy, you just need any of the crypto wallets. A Crypto wallet is a digital wallet where you can store, sell/buy and trade your cryptocurrencies. You can easily sign up in these wallets to get started. These wallets are designed to be very user-friendly. So, anyone without a high knowledge about technology can use it.
In the other methods, we have to either stand in a long queue for hours or have to fill multiple papers. This is one of the most difficult tasks for people of this generation. So, they choose cryptocurrency over other investment methods.
No need to worry about the storage of cryptocurrency
Apart from bonds and stocks, some people invest in metals like gold. Which is also considered a very good investment option. Storing gold becomes a huge problem for the owner, sometimes owners need to spend money for the safety of their gold.
Cryptocurrency is a digital asset that is stored in a digital wallet that cannot be stolen or gotten lost. People of this generation know how difficult it is for them to store these precious metals. So, they tend to consider cryptocurrency as their alternate investment method rather than gold and other expensive metals. These metals also don’t give such high investment returns as a cryptocurrency.
Concluding notes
Keeping all their preferences in mind, people of this generation are choosing cryptocurrency instead of the other payment methods. This is time-saving, gives high returns, is safe to use, and does not need any special attention for storage like gold.
Cryptocurrency is the new future in the finance game and people of this generation do not want to lack behind.
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