Survey shows that 3 out of 4 cryptoinvestors made a profit, cryptocurrencies represent 12% of millennial portfolios2 min read
Digital currencies recorded significant gains in 2021 and jumped in value from 1 January. On August 18, Cryptovantage published a study showing that 3 out of 4 cryptoinvestors reported that they made money on their cryptocurrencies and that cryptocurrencies represent an average of 12% of the millennial portfolio.
3 out of 4 investors earned on digital currency
Cryptovantage published a survey of 1,044 people born between 1965 and 1997. The survey explains how Millennials, Xenials, and Generation X invest in digital assets.”Generational Philosophy of Investing in Cryptocurrencies.”
“Crypto assets represent on average 12% of the millennial portfolio compared to 9.2% of the xennial portfolio and only 6.3% of the average Generation X portfolio,” the study said. “Despite this greater proportional holdings, millennials are not the ones who most often reported a profit when investing in cryptocurrencies. Xennials, with the largest total investment in digital assets, most often made a profit of 80.5%, compared to 76.2% for millennials and only 71.5% for Generation X members. ”The survey adds:
“It is worth noting that 3 out of 4 people in total benefited from investments in cryptocurrencies.”
BTC is the most popular digital asset, xennials prefer BTC Cash and Dogecoin
The survey shows that BTC is the most popular among participants of all generations. Millennials and Generation X, in addition to BTC, prefer ETH. The Xennials chose BTC Cash (BCH) and Dogecoin (DOGE) over ETH.
Generations were divided as far as their preferred trading platform was concerned. Millennials most often opted for Coinbase, while xennials preferred BTC IRAs, and Generation X made the most of the Bitcoin Armory trading platform. Approximately 1 in 3 millennials reported using Coinbase compared to 1 in 4 xennials who reported trading on BTC IRAs. Robinhood was the least popular trading platform in all three generations, not even in the top five of Generation X.
The lion’s share of participants said that the main reason for investing was “curiosity”, the second most popular reason was high profits. Facebook is the most popular platform for gathering information. It was more popular among all three generations than YouTube, Instagram, TikTok and even Twitter.
“Xenians have most likely begun to invest in cryptocurrencies because they believe they offer security and transparency and give them greater independence,” wrote the author of the report, Cryptovantage. “Generation X least believes in the same ideas, but more often than millennials and xenials, they consider cryptocurrencies to be the currencies of the future.”
According to the survey, the fastest adoption of cryptocurrencies is taking place in these countries