Category Archives: Millennials

Auto Added by WPeMatico

South Korea’s “Sampo Generation” Find Escape in Crypto Amid Rigid Society

South Korea's

For many of South Korea’s millennials, cryptocurrency has proven the only way to escape the rigors of the country’s social demands.

Many of South Korea’s young are now calling themselves “dirt spoons”, a reference in South Korea to economic and social status, with gold and silver spoons being the best off and dirt spoons being the worst. Older Koreans refer to millennials as the “Sampo Generation” — literally, “three-giving up” generation — due to their rejection of courtship, marriage and family, the three essential elements of traditional South Korean society.

A generation of young South Koreans have sought out cryptocurrencies as a way of avoiding what they see as dead-end jobs and no future, which has created a huge crypto industry in the country as a result. It is an industry which has seen a total of USD 6.8 billion in cryptocurrencies changing hands in January alone, now becoming the world’s third largest market behind the US and Japan.

“There is no true opportunity in South Korea for the average young person,” said Kim Han-gyeol, 23, a part-time software developer for an e-book company. Kim lost money after making a large profit originally by investing in cryptocurrencies before the fall in the market.

“I felt a sense of shame when I lost money on my Bitcoin investments, not once but twice because of my greed to make a fortune in one go,” she said. But, she added, she’ll stick to digital coins. She said, “There is nowhere else to go to recover my losses anyway.”

Success for the young Koreans means a government position or a job at a small group of family-owned conglomerates selling products that South Koreans commonly purchase. Some of these positions even require a university education with only a handful of local institutions available to choose from; these are highly competitive, and often require long waits numbering years in order to secure a place.

With youth unemployment in South Korea running at 10.5% — the highest in Asia — it is not hard to see the attraction of cryptocurrency investment for many of the country’s young and unemployed.

The cryptocurrency industry has caused a huge wave of interest amongst South Korea’s millennials since 2017, and given time may spark the flame of a huge resurgence in East Asia in the coming months and years.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post South Korea’s “Sampo Generation” Find Escape in Crypto Amid Rigid Society appeared first on BitcoinNews.com.

Millennials Could Drive Crypto Industry by Ditching Banks

Millennials Could Drive Crypto Industry by Ditching Banks

The current levels of cryptocurrency adoption by millennials is seen by many analysts as a negative sign for traditional banking as more and more of this age group become disillusioned by the current financial system.

The general view borne out by much research on the subject is that millennials simply don’t trust banks. Research conducted last year by Edelman Intelligence, a global, research and analytics consultancy owned by Edelman, the world’s largest public relations company, showed that 77% of prosperous millennials feel the traditional financial system is “designed to favor the rich and powerful”.

The statistics are revealing, and that lack of trust led to the same nearly 4 out of 5 respondents to predict that another global finance crisis was imminent due to the banking system’s “bad behavior”. Another 75% were worried that the global financial system was at risk of being hacked, causing the respondents concern about the potential loss of their own private financial information.

Thus millennials are putting their faith elsewhere, as the figures illustrate: some 17.2% of millennials own cryptocurrency. According to Edelman’s study, a quarter of wealthy millennials own cryptocurrencies, a further 31% are interested in crypto, and a huge 74% put their faith in blockchain as a far safer system than the global financial space is currently able to offer.

Another survey by Sustany Capital showed that 88% want to invest in cryptocurrency and 42% like to “use cryptocurrency as savings”. The switch from conventional banking becomes more feasible for many given more education, with another survey revealing that 97% of surveyed millennials and generation X’ers said they would like to learn more about the workings of cryptocurrency. Many felt that they would be more likely to invest with financial advice demonstrating a potential professional gap in the market.

As millennials search for a whole new way of conducting their finances in a way where they can help themselves, rather than simply feed banking institution profits, cryptocurrency is becoming considered far more seriously than the early days where it was seen by this age group as just a hit or miss gamble.

As for Bitcoin’s stability, much disputed in 2018, Bloomberg shows that even with the price of the cryptocurrency dropping by 80%, the total number of users starting in the same period has doubled to 35 million.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Millennials Could Drive Crypto Industry by Ditching Banks appeared first on BitcoinNews.com.

Bitcoin Black Friday Parody Hits Right Note with Young Investors

A video parodying American YouTuber and singer Rebecca Renee Black’s 2011 single “Friday” has already won 1,200 young admirers.

Black gained extensive media coverage when her hit single went viral on YouTube and other social media sites. “Friday” was derided by many music critics and viewers, who dubbed it “the worst song ever” but this didn’t stop it from achieving 127 million viewers from among the young YouTubing community.

The parody, released by “Crypto Finally” and promoting trading platform Bitpay, clearly went down well at head-office, with the company expressing gratitude for the extra publicity, promising a surprise gift for an effort that had so far attracted 12,000 viewers. The video was made without any collaboration or agreement with Bitpay ahead of its production but that doesn’t seem to have troubled the Bitcoin payment platform in the slightest.

The video is clearly aimed at getting younger YouTubers onside with cryptocurrency, labeling those who haven’t yet taken the crypto plunge as “old-fashioned”. Millennials are still predominant users of Bitcoin and other cryptocurrencies, many undaunted by the market’s extreme fluctuations over the past 18 months.

Christmas is coming, and many youngsters would see Bitcoin as the perfect gift, particularly with predictions that a protracted bull run will follow cryptocurrencies’ current dip in fortunes towards mid-2019. Investors are now suggesting that Bitcoin at USD 3,000 is a perfect time to buy.

It is clear that millennials are completely at the forefront of the crypto space and that without them, it is hard to imagine that Bitcoin would have even got off the ground. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when USD 14 trillion in wealth was lost,” writes Kari Paul of MarketWatch, adding that.

Paul added, “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

Falling cryptocurrency prices appear to have done little to deter the younger generation from purchasing cryptocurrencies with 55% either having purchased or looking to buy in the near future. Many young investors cite the ability to invest what they can afford to lose without impacting on their lifestyles, not using third-party institutions, and having the ability to work anywhere with easy access to funds, regardless of global location.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Bitcoin Black Friday Parody Hits Right Note with Young Investors appeared first on BitcoinNews.com.

High-Earning Millennials, the Newest Wave of Crypto Buyers

A new Clovr survey of investment potential has put high-earning millennials at the center stage when it comes to owning cryptocurrency.

These latest figures confirm with the results of other surveys conducted this year, showing that it’s millennials with money who appear to be taking on cryptocurrency in ever-increasing numbers. This is partly due to the lack of investment options in tradition areas. The Clovr study shows that it is those with annual incomes of between $75000 and $99999 that have become serious investors.

With a huge 43% of men in the US between 18 and 80 having at least some investments in cryptocurrency, it appears that there is little cooling off in enthusiasm for digital currency investments despite the drop in Bitcoin’s price this year. US Bureau of Labour Statistics Data suggests that ownership drops off to one-fourth of that percentage showing interest as salaries drop to less than $25,000 a year.

An encouraging signal for the industry emerging from this survey figures shows that one out of three US respondents say that they would be far more interested in crypto investment than traditional stocks and bonds with as many as 80% of the respondents identifying investment in cryptocurrency as less risky than the standard options available.

It is clear that millennials are completely at the forefront of the crypto space, and without them, it is hard to imagine that Bitcoin would have even got off the ground. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost,” writes Kari Paul of MarketWatch, adding that, “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

Other surveys seem to be indicating that such views aren’t simply limited to the US; with UK millennials expressing a total distrust of banks and their lack of interesting options. A survey in May revealed that 27% of Millennials viewed Bitcoin as more trustworthy than big banks, with investors preferring to hold USD 1,000 in Bitcoin over USD 1,000 in stocks; 22% suggested that they would have preferred to hold the same sum of Bitcoin over real estate investment, and 30% would take Bitcoin over government bonds.

The number of women showing an interest in investing in cryptocurrencies in the UK has gone from 6% to 13% this year.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post High-Earning Millennials, the Newest Wave of Crypto Buyers appeared first on BitcoinNews.com.

Blockchain Report Goes Live with Daily News Video Targeting Millennials

Crypto Culture

a BitcoinNews.com series

Part 1: Blockchain Report Goes Live

In the first installment of the Bitcoin News Crypto Culture Series, we investigate a new daily news video from What’s Trending and ICO Watchdog, Blockchain Report.

On Tuesday 2 October, the first episode of a new daily blockchain news program aired, hosted by Snapchat influencer Taylor Nikolai. Blockchain Report is a combined effort from cryptocurrency financial information service ICO Watchdog, and Emmy-nominated digital media company What’s Trending.

The short videos are looking to tap into the millennial generation’s intrigue in cryptocurrencies while providing a trusted source for information, with no underhanded selling of new tokens or products that unfortunately crop up in crypto-related media.

What’s Trending founder Shira Lazar co-heads the project and has plans to use the show to highlight women in the field of cryptocurrency. Speaking to Forbes, she described her goal of using the Blockchain Report platform to showcase both well-known women, and those under the radar who have not yet had the opportunity to make headlines.

The first episode remained shy of 100 views on YouTube at the time of press but with these big names and solid capital behind the project, it looks likely to form a large following. What’s Trending boasts 3 million cross-platform followers and over 200 million YouTube views to date, while Blockchain Report’s Twitter account already has nearly 6,500 followers.

Who’s going to enjoy it?

The fast-paced, well-produced video mimics that of its partner company What’s Trending but like its videos, they are short and do not divulge a lot of detail into the topics discussed. Creators of Blockchain Report say they are targeting the millennial generation, although well-informed millennials in the space are likely to want to do further research on the topics discussed as the self-imposed five minutes of each video leaves little time to really delve into the subject matter.

Scheduled daily Monday to Friday, Blockchain Report may well become a useful, trusted source to find out the big news headline of the day, and the production quality is certainly superior to the majority of alternative daily cryptocurrency videos. Experts or individuals who are looking for a more in-depth approach may be inclined to look elsewhere, however.

What can you expect?

The first episode covered three big stories from Tuesday: Tom Lee’s claim that Ethereum is on the verge of a major rally, web browser Opera enabling built-in Ethereum support, and corporate investment company Fidelity showing further interest in cryptocurrency and blockchain.

ICO Watchdog prides itself on providing an unbiased, informative take on the ICO market, providing investors with informative publications such as ”The Six Key Factors for Analyzing an ICO“.

Its participation in the project can assure viewers that what they are watching can be corroborated by facts, while What’s Trending has the necessary background in media production to make it entertaining and accessible enough to attract younger viewers.

Blockchain Report is one to watch to grab your quick headlines but not a sole resource to rely on.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Blockchain Report Goes Live with Daily News Video Targeting Millennials appeared first on BitcoinNews.com.

Poll Reveals Millennial’s Rush to Crypto Still Male Dominated

The latest cryptocurrency poll has indicated that millennial women are still lagging behind in adoption of cryptocurrency.

A new survey conducted in the US with 3000 millennials, was published on September 12, 2018, by crypto finance company Circle. It revealed that currently, men invest in cryptocurrency at twice the rate of women within the millennial age bracket.

In terms of investment, 71 percent of millennials say that they have kept their investment in crypto below $1000, of which 42 percent invested under $500 and 29 percent invested between $500–$1,000. The bigger spenders or at least those investing more than $1000 represented 29 percent of the poll. 17 percent of men are planning to purchase crypto against 8 percent of women.

The gender gap which has always existed in terms of crypto investments appears not to have narrowed greatly in the US if the results of this survey give a fair indication of who’s investing between the sexes. In the UK, which has become a major crypto hub, particularly for millennials, things have improved significantly over the past year according to a recent London Blockchange poll.

Their poll conducted earlier this year showed that the number of women showing interest in investing in cryptocurrencies has gone from 6 percent to 13 percent over the last six months; almost twice the amount revealed in the US poll. A significant result of that survey revealed that women were far less likely to stress over cryptocurrency, keeping a cool head when making their crypto investments. This inference was drawn from the new Circle poll which suggested that 42 percent of millennial men were “aggressive investors” as opposed to 27 percent of women.

The figures from the Blockchange poll suggested that women in the millennials group are responsible for the increased percentage of women participants in the space, as millennials remain the dominant group worldwide in cryptocurrency investment. Another survey revealed that this group viewed Bitcoin as more trustworthy than big banks.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Poll Reveals Millennial’s Rush to Crypto Still Male Dominated appeared first on BitcoinNews.com.

US Investors “Intrigued” By Bitcoin But Millennials In Touch Says Wells Fargo Poll

A Wells Fargo Gallup Investor And Retirement Optimism Poll conducted earlier this year suggested that the percentage of Americans owning Bitcoin currently stands at 2% but many are ‘intrigued’.

The poll was aimed at adults with at least $10,000 invested in traditional funds and targeted 1,921 investors over 18.

Young investors came out of the poll somewhat unsurprisingly as the most adventurous, claiming they would have no hesitation buying Bitcoin if the digital currency were more mainstream. This clearly shows where the drive towards greater adoption will originate from as Bitcoin becomes more established on financial markets: something now beginning to happen on Wall St.

US Gallup Poll Shows Only 2% of American Investors Own Bitcoin

Bitcoin News has published a number of reports this year which illustrate this tendency of Millenials pulling away from traditional finance towards digital currency. An interesting factor thrown up by this particular poll was the number of American investors who expressed themselves as being “intrigued” by Bitcoin, indicating that there is clearly a vacuum of education in the markets.

There was a high element of investors who saw the flagship digital currency as “risky” preferring to play it safe with their investments. Lydia Sadd who authored the report commented that it was clear that most investors seem prepared to bide their time, currently reliant only on what they understand.

Again, it appears that education regarding cryptocurrencies is generally lacking; most people prepared to rely on news reports which generally thrive on fear and uncertainty in the market or blow cryptocurrencies successes into gargantuan proportions. Neither of these extremes does anything for public confidence in new digital financial technologies.

It is clear that millennials are completely at the forefront of the crypto space, and without them, it is hard to imagine that Bitcoin would have even got off the ground. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost,” writes Kari Paul of Market Watch, adding, “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post US Investors “Intrigued” By Bitcoin But Millennials In Touch Says Wells Fargo Poll appeared first on BitcoinNews.com.

Survey: 60% of US Consumers Wished They Invested in Bitcoin

A new study released by CreditCoin shows that more than half of US consumers surveyed who didn’t own Bitcoin or any other cryptocurrency wished they did. Additionally, new cryptocurrency adopters find that the processes of buying digital currency are too complex, and therefore off-putting to those new to the space, writes Benzinga.

The report is based on a survey of 1,000 US consumers who have had some experience of Bitcoin. It was initiated in order to better understand what perceptions people have about digital currencies and how they are being utilized.

Millennials again featured as the predominant group with a huge 40% ownership, with males almost twice that of their female counterparts. The next major group were Gen X and Baby Boomers owning Bitcoins and altcoins to the tune of 24% and 15% respectively.

Perhaps the most interesting factor which came out of the survey was the difficulty expressed by 44% of respondents that cryptocurrencies were difficult to buy. Security was an issue among 64% of millennials.

“Purchasing cryptocurrency at other exchanges can be technologically challenging,” said Jennifer Hansen, spokesperson for CreditCoin. “Cryptocurrency is undeniably here to stay so we created CreditCoin to make it possible for everyone to participate without being required to know anything about eWallets or connecting their bank account to an exchange.”

Three-quarters of people surveyed stated that they would be more likely to choose a partner who was knowledgeable about cryptocurrency ahead of a non-cryptocurrency user, although when given the choice to date a cryptocurrency saver over a divorcee with a child, most went for the latter choice.

Some other messages were clear from the snapshot survey, such as that 80% own cryptocurrency for investment purposes (hodlers) and over half of the respondents envisaged having 10% of their savings in crypto for ten years.

More people said that, given a gift of USD 10,000, they would rather buy cryptocurrency than spend it on a house or a car. Unusual purchases included a dog, a wedding, and case of Sriracha.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay - mohamed_hassan

The post Survey: 60% of US Consumers Wished They Invested in Bitcoin appeared first on BitcoinNews.com.

27% Of Millennials Would Choose Bitcoin Over Traditional Stocks

A recent survey conducted by Blockchain Capital points towards a trend in millennials’ growing preference towards cryptocurrency investments over traditional investment forms.

Specifically, the results show that 27% of millennials would prefer USD 1,000 in Bitcoin over USD 1,000 in stocks. It was not just stocks that millennials were moving away from, however; 22% would prefer the same sum of Bitcoin over real estate, and 30% would take Bitcoin over government bonds.

Perhaps an even more striking result from the survey was that 27% of millennials viewed Bitcoin as more trustworthy than big banks. What exactly the survey meant by “trustworthy” is not elaborated on, but it is suggested that they find the Bitcoin blockchain a more secure option.

As well as this, millennials have come of age in the wake of the 2008 financial crisis, largely blamed on the irresponsible trading practices of large banks and financial institutions. It is conceivable that the generation in question have become disenfranchised with these entities and are more inclined to find alternative practices.

Despite the dismissive approach to Bitcoin from mainstream politics and financial organizations, 52% of millennials do note share in their skepticism, with 52% citing the project as a positive financial innovation.

Finally, 42% of the age group believe most people will be using Bitcoin in the next ten years, so it is not surprising the 16% describe themselves as ”very likely” to buy Bitcoin in the next five years. Millenials have indicated that they view cryptocurrencies as a genuine investment opportunity as well as a trustworthy one.

Millennials across the globe

This survey took place in fall of 2017 and had over 2,000 American adults taking part. Similar studies conducted internationally have found trends much like that in the US.

A survey of young, working men in Japan found that 14% had cryptocurrency holdings, with 92% of those noting that they entered the market for investment purposes. In regards to their future plans with their holdings, 47.1% reported that they would like to actively invest in the market, with only 34% saying they did not intend to continue investing.

In South Korea, polls indicate that citizens in their 20s and 30s are familiar with cryptocurrencies and are willing to invest in them. Nearly a quarter of the millennials surveyed answered that they were willing to purchase some form of cryptocurrency.

Bitcoin’s popularity is on the rise and millennials appear to be a generation looking for alternatives to the financial institutions they no longer believe in. If younger generations continue to adopt cryptocurrency as a primary form of investment, this will likely increase the aggregate value of virtual currencies such as Bitcoin.

 

The post 27% Of Millennials Would Choose Bitcoin Over Traditional Stocks appeared first on BitcoinNews.com.