Over 50% Of Generation Z Would Receive Part Of Salary In Crypto
Over a third of Millennials and more than half of Generation Z would receive 50% of their salaries in cryptocurrencies, a study reveals.
According to a global survey conducted by the international financial consultancy firm, deVere Group, showed that36 % of millennials and 51% of Generation Z would like to get half of their paychecks in digital assets instead of fiat currencies.
The cryptocurrency industry is popular among people younger than 40-years-old. More than a third of those born between 1980 and 1996 and 51% of those born 1997-2012 would like to receive half of their salaries in bitcoin and/or alternative coins, according to a recent study by deVere Group.
The CEO and Founder of deVere Group, Nigel Green, explained that younger generations find the asset class attractive due to the technological developments happening when they were kids. Influenced by the “enormous surge” in innovations throughout their life span, it is easier for them to understand the “massive potential of digital currencies.”
Millennials and Generation Z would rather support an autonomous decentralized digital currency and payment network than a traditional system where monetary institutions and governments are in control, he added.
“They clearly believe that crypto is the inevitable future of money.”
According to another research, 47% of millennials who have become millionaires have invested at least 25% of their wealth in digital currencies. 30% of them have allocated half of their assets in the crypto market.
Another survey from September this year revealed that millennial investors are the most inclined to deal with bitcoin and alternative coins. 12% of them answered they have distributed some of their wealth into crypto assets. Xennials (those born late 70s or early 80s) were second with 9.2%, while Generation X marked 6.3%.
Asked whether they have profited from their investments, 76% of the millennials answered with “yes.” Interestingly, xennials held the first position in that statistic with 80.5%. Generation X – the oldest generation among these three – was at the bottom of the ranking with 71.5%.
Approximately 60% of all age groups find bitcoin as the most preferable cryptocurrency investment asset. Ethereum is second for millennials and Generation X. However, it is the fourth choice for xennials who tend to go for Bitcoin Cash and Dogecoin.
