YouthSight eBook - Banking on the next generation
Gen Z's attitudes to money and how you should react
Gen Z's attitudes to money and how you should react
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There is a stereotype that cryptocurrency like Bitcoin are<br />
<strong>the</strong> way forward for Gen Z – in reality <strong>the</strong>y are too riskaverse<br />
to invest in it.<br />
70%<br />
of Gen Z’s are unlikely to buy<br />
cryptocurrency in <strong>the</strong> <strong>next</strong> 6 m<strong>on</strong>ths<br />
37%<br />
of young people d<strong>on</strong>’t yet trust<br />
cryptocurrencies such as Bitcoin<br />
14%<br />
of Millennial and Gen Z participants cited a<br />
“lack of understanding” as <strong>the</strong>ir main<br />
reas<strong>on</strong> for not getting involved with crypto<br />
Gen Z will have to work very hard to attain<br />
ec<strong>on</strong>omic security, and <strong>the</strong>y’re not willing to risk<br />
<strong>the</strong>ir funds to invest in crypto. M<strong>on</strong>ey still needs to<br />
feel real and safe – something crypto just doesn’t<br />
offer to this generati<strong>on</strong> yet.<br />
Source: Business Insider, Decrypt<br />
Facebook’s new and c<strong>on</strong>troversial cryptocurrency - Libra<br />
Facebook could put a crypto wallet in <strong>the</strong> pers<strong>on</strong>al accounts<br />
of billi<strong>on</strong>s of people around <strong>the</strong> world, making m<strong>on</strong>ey<br />
transfers as easy as sending a message or a photograph<br />
today. Gen Z spend <strong>the</strong> majority of <strong>the</strong>ir time <strong>on</strong>line doing<br />
just this, which may make crypto more accessible to Gen Z<br />
and change <strong>the</strong> way <strong>the</strong>y perceive crypto.
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