43% of millennial traders have more faith in crypto than the stock market

20 Feb, 2019 | Updated: 20 Feb, 2019
by Richard Allen
News
43% of millennial traders have more faith in crypto than the stock market

A recent study conducted by investment platform eToro has revealed that almost half of millennial traders have more faith in cryptocurrency exchanges than they do in the United States stock market.

The survey asked 1,000 online traders and found that 43% of millennial traders have less trust in the traditional stock market than they do in cryptocurrency exchanges. 93% of millennial crypto traders revealed they’d invest more in digital assets if traditional institutions offered such a service. Additionally, 71% of the millennials who said they don’t trade crypto admitted they would begin doing so if traditional financial institutions allowed it.

Guy Hirsch, Managing Director of eToro said: “We're seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges.” He added that “Immutability is native to blockchains and that makes real-time audit to be sensible and cost-effective and that is why Millennials and Gen X perceive crypto exchanges as less likely to be subject to manipulation and less likely to be a place where bad actors get rewarded with taxpayer money.”

45% of non-crypto traders said they'd be interested in having some cryptocurrencies in their 401k, while 74% admitted an interest in seeing the option from their 401k provider.

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Read more about: eToro

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