A study from Bankrate showed that 5% of millennials believe that investing in Bitcoin is the best way to save money they won’t need for the next decade. In contrast, only 1% of the previous generation, Gen X-ers, would rely on crypto for a retirement plan.
Forthe first time in four years, real estate did not top the respondents’ choices. Quite understandably, the younger generation can be skeptical of the current financial system, and more open-minded towards emerging technologies that can hold comparable value. Millennials witnessed the devastating effects of the 2008 financial crisis, so seem keen to look into alternative means of investment and savings.
Despite the typical volatility of the crypto market, in the long run, tokens can be a viable option as they are easy to store and trade for other currencies and goods. “Crypto is the new gold,” believes crypto master Clem Chambers, CEO of Online Blockchain plc and ADVFN PLC, pointing out that crypto coins can replace gold as a safe financial asset.
“There is a market need for an asset as insurance against disaster and gold has filled that niche for a very long time. It is now losing this niche to bitcoin. Gold is a hard asset to acquire and hold. On the other hand, in minutes I could be up to my ears in crypto and the day after a devaluation I’d be able to seamlessly and almost invisibly flip back into fiat almost where I pleased.”
Which coins to invest in? Cryptos to keep an eye on, according to Chambers:
Monero. In this surveillance world we live in, privacy is becoming a rare and valuable thing. Monero has tight privacy. It also has a team committed enough to fork the currency on learning the ASIC producers had the technology to crack ASIC resistance and were mining it to death by centralisation. Strong development, strong privacy, strong brand: a winning combination
Plus1coin. Plus1coin has risen 300% since around April. A coin with a use case is a rare thing and Plus1’s social validation use case is gaining traction in both the US and UK. People often think Bitcoin came out of nowhere overnight, but the truth is it takes years for a cryptocurrency to become an ‘overnight success’. Plus1coin is on its way there. It’s very small market cap points to huge upside potential.
Dogecoin. Dogecoin is the epitome of a decentralised coin. It has a lot of solid attributes, as well as being a big brand. On top of that, it has a small market cap for its brand and is set to move up big time when the next leg of the crypto-boom strikes.