Crypto survey reveals dwindling millennial demand
Ever wonder what is the market demand for crypto by the next generational transfer of wealth this crypto winter? This crypto survey reveals some key insights.
Crypto survey responses
According to the responses, only 10% of so-called "zoomers" (18–24) are eager to try cryptocurrencies but won't choose them over other investment forms. Two thousand persons were interviewed throughout May, which was then in the midst of the crypto crash.
Women are even less interested in cryptocurrencies, with 75% disapproving of them. Contrarily, only half of the males are open to trying it.
With 70% of respondents believing non-fungible tokens (NFTs) are frauds, the scenario for NFTs was much worse.
Some of the more specific demographics offer additional insights. For instance, compared to 10% elsewhere, a third of Londoners are more receptive to cryptocurrency speculation.
Less than 25% of students (or degree-holding individuals) were willing to bet on NFTs as an investment. But the proportion—43%—was far more significant for those who dropped out after high school.
Crypto survey views according to agencies
The youth marketing company conducted a more thorough survey of its "network" of more than 60 people. They all anticipate that NFTs will gain importance in the future. But right now, they're not persuaded. That is a logical opinion, especially given the market's speculation and rug pulls.
However, their inclusion in a marketing agency's "network" may be biasing a more positive picture because they are in the marketing network agencies. As NFTs can present a financial opportunity for several agencies.
Out of a total population of 67 million people, more than 80% of whom are adults, FCA calculated that 2.3 million people in the UK were cryptocurrency owners. A Gemini survey revealed that 18% of UK adults own cryptocurrencies. Even though the Gemini study was conducted six months later, that number is drastically different due to the smaller sample size. The real question is if crypto demand will grow in the future.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.