Millennials Prefer Bitcoin Over Traditional Banks, Survey Shows

A new survey has shown that one in four millennials are investing their hard earned money in Bitcoin. The leading digital currency has attracted so many people and made them consider Bitcoin over traditional bank accounts.Bitcoin

The survey was conducted by Blockchain Capital and shows that 70% of the 10,000 millennials claimed that they are not satisfied with the interest rates that traditional banks are offering. Even 65% of them considered their money to be safer in Bitcoin because they can personally control it.

However, instead of choosing Bitcoins over banks, millennials would rather see these services integrated into one thing. According to the survey, slightly less than 50% of them said that they are looking for a more convenient form of banking and 45% said that they would like their banks to integrate the Bitcoin wallets – allowing them to directly invest in cryptocurrencies through their existing bank accounts.

The survey also estimated that the majority of today’s millennials will invest around two thirds of their life savings into virtual currencies. It is the younger generation of millennials that are quicker to embrace the new technologies than the older people. As the website founder Andrew Sung said: Bitcoin

“The younger generation has been notoriously quicker to act on new technologies, including the latest smartphones, which have enabled millennials to invest in Bitcoin over the last few years, before large hedge funds and financial institutions started to get involved.”

So, it is safe to say that younger generations are waiting for proper legislative that will let them embrace Bitcoin as a new form of savings and invest in it while it is blooming. We will see whether actions like these are going to happen and if the world is going to give the young generations what they need.Bitcoin