5 Reasons Why Millennials Are So Obsessed With Cryptocurrency – 2024 Guide

You can say what you want to about millennials, but they genuinely have lived through a technological revolution. Because of this, their values and priorities are somewhat different from anything we have seen before. The technology changed their lives, and it is because of this, their views on marriage and values of old such as real estates and care are different. We can all attest to this. When we take a look that they were breed in the age of computers, smartphones, and above all, the Internet, it is no wonder they’re captivated by the values of the new generation. We are mostly talking about cryptocurrency.

The digital currency attracts their attention more than regular fiat currencies or precious metals such as gold and silver. The economy is rapidly changing every day, and in the last decade, it has gone through crypt evolution. Digital currencies such as Bitcoin had their inception and reached their peak all over the previous ten years. This article is going to talk about the five reasons why millennials are so obsessed with cryptocurrency.

1. Decentralization

img source: bitsgap.com

When we look back one decade, we can say that it all started with Bitcoin. This was the first crypto in the world, and it managed to grow from there into one of the most powerful ones we have today on the market. All crypto trades involving BTC happen on peer-to-peer payment tech, which is tied to the blockchain. People can do transactions on their own, without having to rely on a third party, and this is what makes BTC and other cryptos decentralized. The trades happen on the back of all the miners out there, which excludes the need of any financial institution overseeing the process.

Because of this, the chances are slim to none that you’ll have an expensive fee or a fraud during a transaction. Millennials jumped onto the crypto train because they have little faith in traditional banking systems. Decentralization was one of the main reasons why things panned out like this for them. Considering they were surrounded by tech all their lives, it’s no wonder they adopted digital currency as their own. Trades with crypto can be made at all times on various apps and websites such as bitcoin-evolutionpro.com. They’re just one click away.

2. Blockchain Prospects

img source: fintechzoom.com

The traditional trades and financial transactions of all kinds once upon a time solely relied on a middleman, the one you could trust, and various private balance sheets. When it comes to crypto, the date of this type is stored on public books, verified by many people, and not only one trusted source. The world of finance was changed with this approach, the decentralization, and millennials embraced it as their own. They view it as a sort of economic democracy, which they’re glad to strive for.

Transparency is one of the goals they seek in all spheres of life, and crypto trading is no different. This method is slowly spreading to other branches of the economy as blockchain tech is currently wreaking havoc in the transportation and logistics industry through ShipChain. Changes like these are what push the millennials forward. If you look at how they operate in recent years, you’ll notice they’re the driving force behind e-commerce. There’s no sign this will change in the future, and it’s all thanks to this generation.

3. Availability of Crypto

img source: blockchain-expo.com

Crypt is everywhere. Internets is a wonderland, and cryptocurrencies have become its main fairy tale. Unlike what people of old are sued to, crypto can be bought, sold, and traded at all times of day and night. There are no set times when it’s going to be opened or closed. Many individuals who have embarked on this journey are already used to trading when they see fit or feel the market is right. It is much different from traditional markets. This came normal for millennials, as the Internet is their cradle. Thanks to technological advancements, today it is possible to be in touch 24 hours a day. Because of this, they are working with digital currencies that hold a special place in the financial hearts of people born between 1981 and 1996. They want everything available at all times, and in terms of economic deals, crypto offers them precisely that.

4. They Grown With Digital Assets

img source: idgesg.net

Nothing is the same as this age group. They’ve abandoned many of the norms left behind by their predecessors and made their own. When it comes to buying items and regular shopping, they don’t do it as it was once done. Buying with cash and checkbooks is no longer fashionable. The norm today would be paying with cards. Many millennials no longer have money for small items such as cigarettes, sodas, or bubble gums. Because of habits as these, they’ve had no issues embracing digital currencies. Even before cryptocurrencies were accepted, they were saying goodbye to traditional means of buying and selling items. This is what made the transition to crypto more straightforward for them than for older generations. For some, Bitcoin and similar currencies have even more sense than standard fiat ones.

5. Crypto Isn’t Stopping

img source: currency.com

As we speak, the popularity of cryptocurrencies is on the rise. The situation has been like that for some time now. We’re not talking only about the millennials but about all age groups. But, millennials, as those who witnessed the tech boom, are leading the way for all others. BTC, which is the leading crypto, is what they’re after in search of financial security. This is their primary focus when it comes to investments. Do you know how they say that history repeats itself? Well, millennials see the opportunity that crypto put on the table as their chance of being the gold diggers. 49ers and the gold rush are far behind us, but for millennials, this revolution is ongoing. All they want is their piece of a crypto nugget. The way things stand right now, and taking cryptocurrencies’ continual growth, there could be something behind millennials infatuation with digital currencies.