More and more young people would be willing to bet on cryptocurrencies to ensure their old age, even if they admit to not understanding how traditional retirement funds work.
At least that’s what a recent survey from Bitget, a cryptocurrency exchange platform, indicates.
According to Bitget, 20% of respondents from generations Z and Alpha were “willing to receive pensions denominated in cryptocurrencies”, and 40% of young people “have already invested in cryptocurrencies”.
The organization concludes that there is a “major shift” in the way younger generations approach financial planning. “Traditional retirement pensions, once considered essential to financial security, are now losing their appeal,” Bitget prances in a press release.
The problem is that the survey also shows that 73% of young people admit to not fully understanding how traditional retirement funds work. It is difficult, in this case, to really conclude that there is a “generational change of mentality”.
Finally, even Bitget warns its users of the risks of investing in cryptocurrencies. “Digital asset prices can fluctuate and experience high volatility. Investors are recommended to only invest the amount they can afford to lose,” it is stated at the very end of the press release.
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