In 2019, Boomers boast the biggest uptake of crypto trading

In 2019, Boomers boast the biggest uptake of crypto trading

The amount of retirees aged 65-plus embarking on digital asset trading has doubled since January 2019, credited in part to ease of access and safety measures now available in the cryptocurrency space.

New data from cryptocurrency exchange Independent Reserve has revealed rising levels of Baby Boomer and Generation X interest in digital currencies, despite Millennials often being touted as the most “tech-savvy” of the generations.

Independent Reserve’s analysis revealed that while participation on the cryptocurrency exchange dropped by 2 per cent among 18-24-year-olds, retiree participation jumped from 2 per cent of the total participation rate to 4 per cent, and posted a 79 per cent generational shift over a two-year period.

Over the same period, 18-24-year-old user participation rates dropped by 27 per cent.

According to Independent Reserve’s founder and CEO, Adrian Przelozny, when he first launched the exchange in 2014, the majority of users trading on the platform “were relatively young technology adopters and libertarians”.

“Now, we’re steadily seeing the average age of our customers increase,” he commented, noting that the 45-plus age group now accounts for almost 30 per cent of users on the platform.

“In 2017, this was just 22 per cent,” Mr Przelozny continued.

He has attributed the rising rates of older users to ease of use and safer entry points for cryptocurrencies.

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Source: In 2019, Boomers boast the biggest uptake of crypto trading | nestegg

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