Bitcoin is the leading digital currency. Millennials find it safe as they invest their money. They claim to earn more from bitcoin investment than in traditional banking. Some have even branched out to other digital currencies to diversify their portfolio. Here are reasons why Millenials are choosing cryptocurrenciesover banking.
1) It is becoming acceptable
Companies are now accepting payment in form of cryptos. The latest company being American Dealership Post Oak Motor Car. Traders are also coming up as they sell their products and set their method of payment as Bitcoin. In Japan, a car dealership now accepts to be paid with Bitcoin, the currency known as BitFlyer. Crypto is gradually growing and soon all traders will have no choice but to endorse it.
2) Generating more interests
The early adopter of cryptocurrencies has gained an incredible amount of wealth. Some sold their Bitcoin at a higher rate. Generating a good profit. This encouraged others to join and its popularity has even opened to selling assets like cars and islands.
3) Being tech savviness
The young generation is acquitted with the internet. It is able to comprehend the advantages of Blockchain technology. They are eager to become stakeholders rather than mere customers. Very determined to see their generation’s important apps on the chain
4) Ushering in the future
Millennials are coming up very fast. They do not want to associate with the “naive” generation. To them, Blockchains are proving to be productive. This is because they are able to air their grievances. They are convinced that the future of Blockchain is very clear. And if they stand by it, it will rise and prosper all around the world.
5)Achieving the unattainable fate
Most of these Millenials are spendthrifts. They spend more than they have. They love finer things in life. Fortunately, they can now purchase expensive items with cryptocurrencies. Cool Cousins, a blockchain project, offers its users an opportunity to hire local professionals in their vacations. This service holds millennials to create cheap alternatives that do not require much sacrifice on finances.
Millennials, regardless of the risk factors, have invested their student financial aid in cryptocurrencies. Their main goal is to save for retirement. Unlike in the traditional banking systems.