Cryptocurrencies and Millennials – A Perfect Combination: Expert Article by OctaFX

Kuala Lumpur, Malaysia – Media OutReach – 9 September 2021 – In terms of technological adaptability, Millennials are one of the most adaptable groups in a short period of time where a paradigm shift has taken place on all fronts and accelerated anew. The older generation (born between 1980-1993) received insights from the previous generation and adapted to the best of their abilities, which were left over from the previous Gen X beliefs and habits and lessons learned from their Baby Boomer parents. The organic interaction between generations is now juxtaposed with exponential technological advancements. In reality, Millennials have experienced a clash due to this lively ambiguity. As a result, they have found themselves lost in a whole new era where everything they have been taught is distorted and challenged. This challenge has already shown many fruits, giving reason to believe that Millennials have quickly readapted.

Previous generations’ values ​​regarding work, savings, lifestyle and investments have shifted to give way to radically different priorities. They value investments in new technologies and have other behavioral habits, preferences and expectations for the future.

Many of them, perhaps as their parents did, are legitimately under the impression that simply earning a bachelor’s degree is not enough to land them a satisfying job and their dream salary.

Millennial traders are the most ambitious

The future of financial markets is uncertain due to the COVID-19 pandemic. But there is one age group that seems to be taking advantage of this web of uncertainty: Millennials. It may sound redundant, but Millennials are increasingly equipped to deal with uncertainty. A well-known trait of Millennials is their desire to achieve their aspirations quickly, without wasting time. Morning news, dinner plans, and instant gratification from a workout result on a jogging app are all at our fingertips with just a swipe or click of our smartphones.

We see similar efforts in the fintech sector today, evolving in tandem with this generation, such as the fact that digital and branchless banks are challenging the traditional banking structure.

Cryptocurrencies—the most popular digital assets

Generation Y, also known as millennials, is known for its love of all things digital, especially cryptocurrencies. So when it comes to investing, most people tend to prefer doing it online or through apps rather than filling out lengthy forms. Cryptocurrencies have been around for about a decade, with the first to grab attention in 2009: Bitcoin. These new assets have flourished and become a diverse collection of tokens and coins, fueled by blockchain technology, a promising and growing alternative to the current legacy financial system. Essentially, with the help of blockchain, cryptocurrencies mean that anyone can buy, sell, exchange, or store anything digitally online. Blockchain is a unique database that has a natural affinity for decentralization and self-accountability, and has proven to be virtually tamper-proof so far. Many of these blockchain projects that release new cryptocurrencies every year have seen immense results and growth (not all due to the merits of innovation, of course, but because clever marketing has hyped them to the point of oblivion).

These characteristics may explain why cryptocurrency as an asset class fits perfectly into the millennial lifestyle. If you’re still not sure why millennials are investing in cryptocurrency, here are some great reasons.

● High and fast returns (Millennials are considered one of the most ambitious generations historically. They are looking for investments that will give them high returns in a short period of time and allow them to make money. There aren’t many assets that can generate high returns quickly, but cryptocurrency could be an exception.)

● Bonus to your retirement portfolio

The last point is even more serious: most millennials in Latin America, for example, are a generation that, unlike their parents (depending on the country they live in), will not have a future pension guaranteed by the state. Even those with good jobs today will likely not have a pension when they retire. The urge to do things themselves and invest for the long term is driven by the possibility of gaining independence and financial freedom.

Cryptocurrencies are very volatile. The fact that profits or losses in a 30-day period can exceed 100% is proof of this. That means that the risks and rewards are relatively high. But if managed wisely, cryptocurrencies can be a great addition to a millennial’s retirement portfolio. In that sense, statistics already show that the Generation Y demographic often seeks income outside of what they can get from a formal job. That’s why it’s essential to consider which platforms offer the best conditions and security to avoid volatile situations. A service they can rely on and that will help them generate additional income.

Research also shows that the pandemic has significantly increased the risk appetite of millennials. There is a paradox here: they are a relatively young generation and aren’t too worried about debt because, on the one hand, they don’t have much to lose and starting over doesn’t seem so tragic. On the other hand, they are used to sudden change and have become surprisingly decisive and organized in their response.

Suitable alternative investments

The term “alternative investment” refers to performance that is unrelated to traditional asset classes such as stocks and bonds. Cryptocurrencies can be an alternative investment for millennials in the long term because they are more likely to remain strong through any possible financial crisis in the future.Especially if the fundamentals, use cases, partnerships, and innovation of blockchain projects are maintained.

So how can you invest safely? The first step is to find a trustworthy cryptocurrency exchange. Simplicity, security and accessibility are the three aspects everyone should consider when choosing an exchange to invest in cryptocurrencies. Make sure the platform is legitimate before you try to buy assets with your hard-earned money.

Cryptocurrency market crashes like those in March 2020 and more recently May 2021 have left many losing direction and perspective. When a typical Elon Musk tweet hits the nail on the head and causes serious market volatility, some of the best platforms will be able and willing to provide guidance and adapt to meet their customers’ needs.

OctaFX is one such platform.

The fintech company most recently addressed customer needs with a leverage update.

The company has increased leverage on all cryptocurrency pairs from 1:10 to 1:25.

For reference, the most traded cryptocurrencies on OctaFX are as follows, in order of popularity:

BTCUSD (Bitcoin/US Dollar)

XRPUSD (Ripple/US Dollar)

ETHUSD (Ethereum/US Dollar)

LTCUSD (Litecoin/US Dollar)

BCHUSD (Bitcoin Cash/US Dollar)

After carefully analysing customer sentiment and carefully considering customer communications, OctaFX decided to meet this customer demand.

The cryptocurrency adventure has been a wild one and is playing a crucial role in ushering in the era of the Fourth Industrial Revolution. Thanks to millennials and Generation Y, cryptocurrencies are gaining momentum never seen before in the financial markets and must be reckoned with in the future.

The issuer is solely responsible for the content of this announcement.

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