Millennial are considered those people who have an attachment to technology, the ages are between 15 and 29 years old, in this sense, they are digital natives, they are characterized by mastering technology, they prefer Internet to conventional TV, they have grown up with personal computers , smart cell phones, video games, tablets, and applications. They use multiple channels and digital devices for their activities. His life is the mobile, the entrance to the Network is a mobile screen, and they assume a position in favor of the financial technologies that are revolutionizing the economy of the world, such as Blockchain and cryptocurrencies. This makes them a highly knowledgeable group of technology that can quickly adapt to technological advances such as the Blockchain
At the same time, they are extremely social, active consumers, before they buy, they search, they listen to opinions, they generate, they share content, they are very sensitive to their online experience, they have become much more critical, demanding and volatile. In the same way, they are clients who do not exclusively seek good service, but who demand personalization, expect the company to adapt to their preferences, being self-sufficient, autonomous, and want to feel protagonists.
It should be considered that, Millennials want a change in the economic system considering it as not sustainable. In this order of ideas, the venture capital firm Blockchain Capital ensures that “about 30% of young people between 18 and 24 years old prefer to have $ 1,000 in Bitcoin than the same amount of state debt or stock market bonds. The sample of 2,000 people indicates that about 42% of millennials know some aspect of Bitcoin, which contrasts with 15% of people up to 65 years. ” Which may be due to the fact that they find payment solutions for Bitcoin and the providers of wallet services are the most viable alternatives for the millions of millennials, as it offers them high liquidity, stable exchange rates globally, financial freedom, prevention of excessive control by the authorities and Central Banks.
In the same sense, the survey conducted by Blockchain Capital, indicates that “70% of the 10,000 young people of the millennial generation who were surveyed are not happy with the interest rates offered by the banks and almost 65% said that their Money is safer in Bitcoin because they personally control it.”
In the same order of ideas, according to the South Korean news agency Yonhap, reveals that “people who are between 20 and 30 years old are the most active investors in the cryptocurrency sector in the country, Bitcoin and Ethereum emerged as the favorite cryptocurrencies among respondents, thanks to their faster and higher performance opportunities.”
Likewise, Carlos Mesa, director of Bitcoin Colombia portal, explains that “between 30 and 40% of those who invest and use bitcoins in Colombia and in the world are millennials.” Similarly, according to Forbes, currently “in Latin America millennials are 30% of the population and will be 75% of the world’s workforce by 2025.”
Therefore, it can be observed that this generation group prefers to risk investing in Bitcoin than to use traditional banking, being aware of the potential of Bitcoin; As well as the response it offers to its needs, this generation being the main consumers of products and services at present, the virtual currency market could be extended to millions of users worldwide. In this sense, my opinion is that the survival of cryptocurrencies, especially Bitcoin depends on continuing to meet the demands, maintain confidence, meet the expectations of this generational group, and survive the regulations that are being implemented in various countries. the cryptocurrencies.
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