【Survey shows: Generation Z is more likely to use cryptocurrency rather than cash】
According to a survey by Empower, Generation Z is the group most inclined to use cryptocurrency. The survey shows that 34% of Generation Z uses cryptocurrency, leading other age groups. Additionally, 41% of Generation Z uses digital payment platforms more frequently, higher than the average of 27% for other age groups.
Despite the growing popularity of digital payments, 52% of Americans believe that "cash is king," and 49% feel that holding cash makes them feel safer, citing market uncertainty and threats of economic recession. In this regard, there is little difference across generations, with both Generation Z and Baby Boomers at 39%.
According to research by FINRA, 55% of American Generation Z has invested in cryptocurrency, while 41% have invested in stocks. Generation Z investors primarily learn about investing through social media (48%), online searches (47%), and family (45%), with the most commonly used resource being YouTube (60%), followed by platforms like Instagram and TikTok. Generation Z is considered "risk-takers," with 46% willing to take on high-risk investments, and 50% of their decisions influenced by FOMO.
A report by Rave Reviews indicates that by 2031, Generation Z's total wealth will surpass that of Millennials, with income expected to grow fivefold. They are regarded as the most educated and skilled self-learners among generations, and will become a significant driving force in the market.