{"id":15348,"date":"2021-12-17T10:10:43","date_gmt":"2021-12-17T10:10:43","guid":{"rendered":"https:\/\/www.5paisa.com\/finschool\/?p=15348"},"modified":"2021-12-17T10:10:44","modified_gmt":"2021-12-17T10:10:44","slug":"how-crypto-is-attracting-millenial-is-the-risk-worth-it","status":"publish","type":"post","link":"https:\/\/www.5paisa.com\/finschool\/how-crypto-is-attracting-millenial-is-the-risk-worth-it\/","title":{"rendered":"How Crypto Is Attracting Millenial &#8211; Is The  Risk Worth It ?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"15348\" class=\"elementor elementor-15348\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0ea4cc7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0ea4cc7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2f9f9ab\" data-id=\"2f9f9ab\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-45e586c elementor-widget elementor-widget-text-editor\" data-id=\"45e586c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The rapid increase in digitization in the past few years has created a ripe environment for digital currency. Almost half of the surveyed respondents said they would start or increase their investments in crypto currencies if there was more awareness about benefits of investing in them or if it was more widely accepted as a mode of payment.<\/p><p>The key driver for most urban Indians to invest in digital currencies is primarily the promise of high returns in a short time.\u00a0 The other two top reasons to invest are high liquidity, through which one can easily buy and sell crypto currencies while\u00a0 rest claim that their interest has piqued due to higher awareness of all the marketing information on crypto currencies via ads, social media etc.<\/p><p>But there are still various reasons that deter people from investing in crypto currencies. More than half of urban Indians find lack of government regulations on crypto currencies to be a key factor discouraging them from investing in them. Unlike many other emerging markets, the government in India is yet to issue a regulatory stance on this new asset class and it seems this will enhance people\u2019s confidence in digital money.<\/p><p>The above two perspective are the ones which are in general, But among them will the Millennial accept crypto currency as an investment?<\/p><h5><span style=\"color: #000080;\"><strong>Who Are Millennial ?<\/strong><\/span><\/h5><p>MILLENIAL are persons reaching young adulthood in the early 21st century.<\/p><h5><strong><span style=\"color: #000080;\">Millenials On\u00a0 The Fence \u00a0About Cryptocurrency<\/span><\/strong><\/h5><ul><li class=\"MsoListParagraph\" style=\"text-indent: -18pt;\"><!-- [if !supportLists]--><p><span style=\"color: windowtext;\">\u00a0 \u00a0 \u00a0 \u00a0Fuelled by the hype and advertisements, young investors are flocking to cryptocurrency exchanges with dreams of earning quick profits, and\u00a0 investors specifically think cryptocurrency can make them millionaire.<\/span><\/p><\/li><li class=\"MsoListParagraphCxSpFirst\" style=\"text-indent: -18.0pt; mso-list: l0 level1 lfo1;\"><p><span style=\"color: windowtext;\">\u00a0 \u00a0 \u00a0 Meanwhile, Prime Minister Narendra Modi said while flagging cryptocurrency as one of the areas where they should work together to \u201censure it does not end up in the wrong hands\u201d and \u201cspoil our youth\u201d.<\/span><\/p><\/li><li class=\"MsoListParagraphCxSpLast\" style=\"text-indent: -18.0pt; mso-list: l0 level1 lfo1;\"><p><!-- [if !supportLists]-->\u00a0 \u00a0 \u00a0 Speaking on \u201cIndia\u2019s technology evolution and revolution\u201d during a virtual address at the inaugural Sydney Dialogue, Modi referred to the digital age that \u201cis changing everything around us\u201d and said it was \u201cessential for democracies to work together\u201d \u2014 from technology to supply chains. <b>\u201cTake cryptocurrency or bitcoin, for example. It is important that all democratic nations work together on this and ensure it does not end up in wrong hands, which can spoil our youth,\u201d <\/b>Modi said.<\/p><\/li><\/ul><h5><strong><span style=\"color: #000080;\">Millennials Are Pulling Out India\u2019s Crypto Industry Out Of The Shadows<\/span><\/strong><\/h5><ul><li><!-- [if !supportLists]--><p><span style=\"color: black; mso-color-alt: windowtext;\">In hundreds of India\u2019s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age of the 11 million users of CoinSwitch Kuber,\u00a0a Cryptocurrency trading\u00a0app that didn\u2019t\u00a0exist 18 months ago,\u00a0is 25, and 55% of them are from outside large metropolises like New Delhi or Mumbai.<\/span><\/p><\/li><li><p><!-- [if !supportLists]--><span style=\"color: black; mso-color-alt: windowtext;\">Now trading is all very public, and highly visible. CoinSwitch Kuber has signed up a popular Bollywood youth icon for an ad campaign with the tagline, \u201c<em>Kucch toh badlega<\/em><em>\u201d<\/em> \u2014 something will change.<\/span><\/p><\/li><li><p><span style=\"color: black; mso-color-alt: windowtext;\">For CoinSwitch, which started out as an aggregator of best real-time prices for digital assets around the world, something already has. In 2018, the fledgling venture couldn\u2019t play on its home turf because India\u2019s monetary authority had instructed banks not to entertain customers who dealt in virtual currency. It was only in March last year that the<strong>\u00a0<\/strong>Supreme Court overturned the ban. CoinSwitch, whose app was released in June, acquired 11 million customers in 16 months. Investors took notice of the start-up: It recently became the first in the country to raise money from Silicon Valley venture capitalist Andreessen Horowitz, at a valuation of $1.9 billion.<\/span><\/p><\/li><li><p><!-- [if !supportLists]--><span style=\"color: black; mso-color-alt: windowtext;\">Having gone mainstream in such a short time, the industry itself is\u00a0demanding to be regulated. \u201cWe\u2019ve decided that we\u2019ll show our faces,\u201d says Ashish Singhal, one of CoinSwitch\u2019s three cofounders. \u201cEven if regulation harms our\u00a0business in the short run, it\u2019s better than being\u00a0forced to operate in a gray\u00a0area with\u00a0little\u00a0certainty and not much room for growth.\u201d<\/span><\/p><\/li><\/ul><h5><span style=\"color: #000080;\"><strong>Receding Risk For Crypto Industry<\/strong><\/span><\/h5><ul><li><p>Fears of being outlawed have swirled since\u00a0last year\u2019s\u00a0court order that gave the\u00a0dying industry new life. But that risk is now receding. While Beijing last month announced, in most unequivocal terms, its resolve to\u00a0root out all transactions\u00a0in\u00a0virtual currencies, the\u00a0consensus opinion is that New Delhi will hesitate to\u00a0take such an extreme step.<\/p><\/li><li><p>That\u2019s partly because the relationship between private business and the state is different in India, where politicians need corporate donations\u00a0to fight expensive elections, and\u00a0citizens don\u2019t like being told by the Bollywood stars promoting crypto.<\/p><\/li><li><p>Many more want to \u2014 the draw of crypto is now half as powerful as that of mutual funds, a product with which older generations has a far deeper familiarity. That offers a glimpse of what investor portfolios will look like in the future: A mix of digital assets and traditional financial products. Even without the reflected light of Bollywood stars, India\u2019s crypto industry isn\u2019t going dark again.<\/p><\/li><li><p>As per a survey report released last November by CoinDCX, another cryptocurrency exchange platform in India, 71 per cent of respondents below 35 years said they have invested in a cryptocurrency at least once.<\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The rapid increase in digitization in the past few years has created a ripe environment for digital currency. Almost half of the surveyed respondents said they would start or increase their investments in crypto currencies if there was more awareness about benefits of investing in them or if it was more widely accepted as a &#8230; <a title=\"How Crypto Is Attracting Millenial &#8211; Is The  Risk Worth It ?\" class=\"read-more\" href=\"https:\/\/www.5paisa.com\/finschool\/how-crypto-is-attracting-millenial-is-the-risk-worth-it\/\" aria-label=\"Read more about How Crypto Is Attracting Millenial &#8211; Is The  Risk Worth It ?\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":15353,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-15348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-whats-brewing"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/posts\/15348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/comments?post=15348"}],"version-history":[{"count":9,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/posts\/15348\/revisions"}],"predecessor-version":[{"id":15369,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/posts\/15348\/revisions\/15369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/media\/15353"}],"wp:attachment":[{"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/media?parent=15348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/categories?post=15348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.5paisa.com\/finschool\/wp-json\/wp\/v2\/tags?post=15348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}