Data: Older investors are entering the crypto space

Older generations are beginning to recognize the potential of cryptocurrencies and blockchain in global payment systems, a new survey shows.

On January 21, digital payment platform Wirex released a special report dedicated to cryptocurrency adoption in 2021. The report, written by Wirex in collaboration with the Stellar Development Foundation (SDF), contains survey results from 3,834 people from 89 countries, aiming to understand the latest trends in the global adoption of blockchain-based digital payments.

The survey was conducted over a three-week period, with Wirex and SDF sending out emails seeking voluntary participation in a survey related to the use of cross-border transactions. The total number of respondents included 81% of European residents and 17% of participants in the Asia-Pacific region.

As part of the report, Wirex and SDF stressed that age is “not a barrier to the adoption of blockchain technology”, with the survey finding that people of all ages are sufficiently interested in the benefits of blockchain. Of all survey participants, nearly 60% were aged 45 or above, many of whom are trying blockchain-based payment methods.

According to the survey results, more than 30% of respondents aged 45 to 54 (the largest age group in the survey) use cryptocurrencies. The study also found that 26% of women aged 55 to 64 have invested in cryptocurrencies, compared to 14% of men in the same age group.

Source: Wirex

The survey report noted that if users send higher amounts, up to $1,000, they are more likely to consider digital assets as an alternative to traditional transfer services. In addition, the survey also found that 86% of respondents believe that using cryptocurrencies is safe.

Other companies have also noticed the trend of older generations investing in Bitcoin. In June 2020, British cryptocurrency trading app Mode reported that monthly cryptocurrency investments by baby boomers and Generation X investors increased ninefold during the COVID-19 pandemic. (Cointelegraph)