75% of young Americans use cryptocurrencies in one way or another

According to a survey conducted by Bank of America, 75% of American investors aged 21 to 42 invest in cryptocurrencies or alternative forms of saving. Young people in America are convinced that owning only traditional finances cannot guarantee future profits.

The younger generation is much more likely to favor the digital asset industry than older people (for example, than the parents of the same investors). American youth are even ready to receive part of their salary in cryptocurrencies. «As we see among our clients' families, financial behavior and values are formed at an early stage of life and become hereditary, passed down from one generation to the next. The results of a recent survey demonstrate how priorities and needs are changing and how important it is for banking institutions to be able to meet the needs of new generations,» said Katie Knox, President of Bank of America Private Bank.

By comparison, only 32% of older people support the idea of cryptocurrency investments, believing that they should invest all their money in stocks, and 5% invest in alternative assets such as cryptocurrency.

According to a Study.com survey conducted at the end of August, 64% of American parents who invest in digital assets want to teach their children about it. Most respondents are convinced that a course on blockchain technologies and investing should be a mandatory part of the educational process in schools. In September, it became known about a crypto app for teenagers. «All our research on Generation Z shows that they learn on their own, but they also follow trends, such as the development of the crypto world. TikTok and Reddit are often their financial advisors — this needs to change ,» emphasized the CEO of the Stack app.