Millennials Have Lost Faith in Conventional Financial Institutions
Facebook's survey has indicated a lack of trust in the conventional financial institutions among the millennials. Bitcoin and other cryptocurrencies have gained a lot of traction in the past few years. Even though Bitcoin has been around since 2009, its mainstream adoption started to gather steam only during the last 3-4 years. While one side of the argument states that its notoriety due to increased usage on darknet marketplaces to be the reason, the answer may lie somewhere else. A recent survey conducted by Facebook IQ has shown that a majority of the millennials (individuals between....
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Earlier in 2016, Facebook IQ, a team of researchers, scientists and analysts funded and supported by Facebook Inc., published a white paper entitled “Millennials + money: The unfiltered journey” to evaluate the beliefs and thoughts of today’s youth on traditional banking and financial systems. The paper found that 92 percent of millennials firmly expressed their distrust of banks. The general population, including millennials, are rapidly developing a sense of awareness towards the manipulation, monopoly and control that banks and financial institutions impose on user funds and money. Cash....
The report titled “How Millennials See Their Financial Future” showed that 40% of millennial survey participants have invested in crypto. A report published by investing firm Alto surveyed adults based in the United States to find out their preferences in investing. The results showed that more millennials from ages 25 to 40 are investing in crypto compared to those of the same age who are investing in mutual funds. The survey shows that 40% of millennial participants have invested in cryptocurrencies. According to the report, this is “greater than the percentage of millennials who own....
At Silicon Republic’s Inspirefest 2017, Hazel Moore, the chairman and co-founder of international investment bank FirstCapital, stated that banks are completely wasting valuable customer data. She revealed how banks are struggling to digitalize their services and products by embracing smartphones, big data and emerging financial technologies. Banks and....
A report published by the cryptocurrency exchange Kraken shows that two-fifths of Australian millennials prefer to invest in cryptocurrency assets over real estate. The survey shows that a number of Australians are losing faith in traditional assets like gold, stocks, and real estate. Kraken’s Australia Managing Director: ‘Young Aussies Look for Other Options to Grow Wealth’ A survey conducted by the San Francisco crypto exchange Kraken indicates that 40% of millennials believe investing in digital assets like bitcoin (BTC) will end up turning into long-term gains. In....
In a recent survey conducted by Goldman Sachs, it was discovered that most millennials might not be too open about bitcoin developments. Among the 752 respondents in the survey, 51% indicated that they have never used bitcoin nor do they have any plans of doing so. Meanwhile, 22% said that they have used it in the past and will most likely use bitcoin again. Another 22% said that they have never tried using bitcoin before but they are open to using it. Lastly, 5% indicated that they have tried using bitcoin and have no plans of using it again. Concerns about Bitcoin. With plenty of other....