[2018-05-12] Millennials Are Buying Cryptocurrencies to Save For Retirement

[tyz]

Millennials Are Buying Cryptocurrencies to Save For Retirement

Among millennials, the cryptocurrencies investment trend is gaining momentum for retirement purposes. Moreover, as tech-savvy millennials are shunning traditional banking methods, innovative startups are creating new retirement solutions powered by blockchain and artificial intelligence technologies.

http://bitcoinist.com/millennials-are-buying-cryptocurrencies-to-save-for-retirement/

[1713542447]

1713542447

[MoonJeina]

That is such a good option . Not only they will save themselves from the boredom after the retirement , they will be capable enough to feed themselves and live their lives without crises . If i was to be retired , ii would be doing the same thing . I also think that many of the members of this forum are here who are retired and seeking for opportunities to earn . It is not only limited till techies but any naive user can also learn the things about it without going into the detailing of blockchain  . Block chain is highly undervalued till this time , i really hope such events will change some mindsets.

[leea-1334]

I thought that news was already in the circulation a month ago? Now they did a new research on 8 major countries including US UK, south Korea and Japan and guess what? these millennials all already bought their bitcoin, and now they want to hold. Just like you said, for retirement. So that is good news for me because it means new people into crypto are not all speculators but also holders. Of course I am sure many of them will sell when Bitcoin hits 20k again but that means we get to see holders for a year or so.

[gentlemand]

Cool little idea. I certainly would not be placing all my eggs in that particular basket for one's end of days plans. We still don't know how long crypto's legs are. There might be some epic implosions just before it's time to put your feet up, or several in the meantime.

[Karartma1]

Cool little idea. I certainly would not be placing all my eggs in that particular basket for one's end of days plans. We still don't know how long crypto's legs are. There might be some epic implosions just before it's time to put your feet up, or several in the meantime.

I'd rather keep my bitcoins now considering how much I paid for them. I also studied the protocol and made a big bet with my career, so far so good. I'm playing my cards in this very difficult battle

[gentlemand]

I'd rather keep my bitcoins now consider how much I paid for them. I also studied the protocol and made a big bet with my career, so far so good. I'm playing my cards in this very difficult battle

Anyone who's sitting on a large pile of money is possibly doing themselves a disservice if they don't move it into a few other areas while the going's good. I'd never abandon crypto but retirement in particular is about hedging, preserving and nurturing which means having a significant chunk in boring options too.

[Lucius]

In time when the world retirement system is experiencing major changes, investment in cryptocurrency for the purpose of retirement is a very logical but also a risky investment. We can all see how big world companies firing more and more workers every year, they not need them any more because the job is taken over by robots. This trend will only increase even more in future, which means that fewer and fewer people will work, and they will not be able to finance retirement systems. In Europe the age limit for retirement is increasing from 65 years of life to 67 , but such measures are only temporary.

I think everyone should think about it, investment in cryptocurrency for me it's very serious when it comes to retirement. This is just an additional insurance in case that a traditional system at one point stops working.

[SaintGraal]

Seems this concerns only the developed countries 

[Theb]

Millennials Are Buying Cryptocurrencies to Save For Retirement

Among millennials, the cryptocurrencies investment trend is gaining momentum for retirement purposes. Moreover, as tech-savvy millennials are shunning traditional banking methods, innovative startups are creating new retirement solutions powered by blockchain and artificial intelligence technologies.

http://bitcoinist.com/millennials-are-buying-cryptocurrencies-to-save-for-retirement/

I can relate to this in my school it is pretty evident that more and more young people are getting into investing not only into stocks but also into the new cryptocurrency market. It must be due to them becoming self-aware on the realities in life that school loans are big, being unemployed is a possibility, and in general money is not easy to be earned. But most of these millennials always think of putting their money into something without the patience and plan to come with, most of them even start buying cryptocurrencies first before even learning how to trade, some of the hodlers even cut their losses on the first sight of red in their portfolio.

This is one of the bad things for tech-savy millennials they will believe everything they will see in the internet, that is how they have started investing in cryptocurrencies but this could also be their end. A lot of them will join Facebook groups and telegram channels believing that every buy recommendation is true without even confirming with themselves because they don't have that ability to do so.

[sandor111]

Millennials Are Buying Cryptocurrencies to Save For Retirement

Among millennials, the cryptocurrencies investment trend is gaining momentum for retirement purposes. Moreover, as tech-savvy millennials are shunning traditional banking methods, innovative startups are creating new retirement solutions powered by blockchain and artificial intelligence technologies.

http://bitcoinist.com/millennials-are-buying-cryptocurrencies-to-save-for-retirement/

I can relate to this in my school it is pretty evident that more and more young people are getting into investing not only into stocks but also into the new cryptocurrency market. It must be due to them becoming self-aware on the realities in life that school loans are big, being unemployed is a possibility, and in general money is not easy to be earned. But most of these millennials always think of putting their money into something without the patience and plan to come with, most of them even start buying cryptocurrencies first before even learning how to trade, some of the hodlers even cut their losses on the first sight of red in their portfolio.

This is one of the bad things for tech-savy millennials they will believe everything they will see in the internet, that is how they have started investing in cryptocurrencies but this could also be their end. A lot of them will join Facebook groups and telegram channels believing that every buy recommendation is true without even confirming with themselves because they don't have that ability to do so.

Most beginners made mistakes when they started and it's nothing different with millennials. Luckily most people are smart enough to begin with small amounts, money they can afford to lose so they will probably not invest all money from school loan. I know stories from my friends, some of them are students, and I was laughing when they were telling me which altcoins they bought and why. But they are all in profit now, despite bear market. You learn by doing.

[tyz]

Seems this concerns only the developed countries 

Very likely because the greater part of people of non-developed countries do not have money to save. And if they would have some, their first idea would likely not to invest in crypto currencies, rather into a house, a car, livestock, education, (better) health insurance, etc.

[Hamphser]

Seems this concerns only the developed countries 

Very likely because the greater part of people of non-developed countries do not have money to save. And if they would have some, their first idea would likely not to invest in crypto currencies, rather into a house, a car, livestock, education, (better) health insurance, etc.

In most cases this would really happen and standards of living on a particular citizen would always vary on the possible decisions that they would made. If people do have the money to spare into investments then most likely they will really look into crypto but for those people who aren't capable on doing such thing would really secure out into traditional stuff which had been mentioned above like house,insurances etc.

[bbc.reporter]

Also this brings the bitcoin versus gold, and the bitcoin as a store of value first versus as a medium of exchange first debates.

I reckon bitcoin is more of a digital gold to be used as a store of value first and as a currency next. Some altcoins like bitcoin cash consider their coins as mediums of exchange first and store of value next.

[gentlemand]

Also this brings the bitcoin versus gold, and the bitcoin as a store of value first versus as a medium of exchange first debates.

I reckon bitcoin is more of a digital gold to be used as a store of value first and as a currency next. Some altcoins like bitcoin cash consider their coins as mediums of exchange first and store of value next.

It seems like a no brainer to me. Something has to be established and accepted as a store of value before people treat it as a currency, but that's just me.

You need all parties to be confident that the thing they're transacting with is going to be accepted by some total stranger as worth something the day after that particular exchange.

At the moment in most cases when you're buying something, Bitcoin and BCH and everything else is nothing but a payment rail for fiat. It's going to take a long time before it doesn't occur to any major business to keep it without conversion.

I can well imagine two Bitcoin believers not thinking that way but they're already down the rabbit hole. You need the unemotional to think the same before it really goes places.

[imsotiredofmoviereboots]

I'm a millenial and it's the best option compared to other companies that offers retirement investment.  I have seen a lot of them went bankrupt so I would definitely go with btc that I really own and not in somebody's control.

[squatter]

It's not surprising given the hype. Millennials invest heavily in pot stocks, too.

I'm a millenial and it's the best option compared to other companies that offers retirement investment.  I have seen a lot of them went bankrupt so I would definitely go with btc that I really own and not in somebody's control.

Which companies were those? The company that does our retirement/profit sharing plan is super conservative. Small but steady gains. They don't even allow us to put our personal 401ks into anything remotely risky. I need to quit my job before I can roll it into anything bitcoin-related.

[Kakmakr]

I think Millennials are more technological driven than the Baby Boomer Generation 1946 - 1964 and Generation X (Baby Bust) 1965 - 1979. The Xennials - 1975 - 1985 might be a bit more technological driven and might fall in the same category as the Millennials.

I think many of these Millennials recognized the pitfalls and negativity of investments in the traditional Fiat investments and how corrupt this system has become and they are also seeing how their parents are suffering, because these investments gives small returns over time.

They want faster and bigger returns on their investments and something that fits in with their technological background. They also want to be in control of their own destiny and their wealth and Crypto currencies offer them that freedom.  

[bbc.reporter]

I'm a millenial and it's the best option compared to other companies that offers retirement investment.  I have seen a lot of them went bankrupt so I would definitely go with btc that I really own and not in somebody's control.

Really? What cryptcoin projects are you invested in and planning on investing in? The millenials might also be making a very huge error in judgement by speculating in the cryptospace for their retirement savings.

[European Central Bank]

anyone putting the majority of the money that they'll need to depend on in 30-50 years into crypto is a legitimate crazy person. the entire space is only 9 years old.

if you make a huge short term profit with a portion of what you have then great. take it out and buy a bunch of land.

[entrepmind23]

Millennials Are Buying Cryptocurrencies to Save For Retirement

Among millennials, the cryptocurrencies investment trend is gaining momentum for retirement purposes. Moreover, as tech-savvy millennials are shunning traditional banking methods, innovative startups are creating new retirement solutions powered by blockchain and artificial intelligence technologies.

http://bitcoinist.com/millennials-are-buying-cryptocurrencies-to-save-for-retirement/

I've observed that millennials are now open to investment options for retirement rather than just saving their money in the bank or just depend on the government for support when they are in retirement age. The social media in which most of the millennials are using opened their eyes to look for ways to increase their retirement funds and find an investment that would beat inflation as opposed to their parents who mostly just saved their money in banks because they thought that investment is complicated so they just choose what others did before. Being tech-savvy, no wonder millennials are considering investing in cryptocurrency than the traditional investment vehicles because it has shown tremendous gain in just a few years. Millennials too are more risk takers than the previous generations in my opinion.

Also this brings the bitcoin versus gold, and the bitcoin as a store of value first versus as a medium of exchange first debates.

I reckon bitcoin is more of a digital gold to be used as a store of value first and as a currency next. Some altcoins like bitcoin cash consider their coins as mediums of exchange first and store of value next.

Bitcoin is seen as a lucrative store of value now as opposed to being use as a currency because of its nature being volatile and speculative. Being still in its infancy, bitcoin has yet to find its true value and since the speculation of some experts in this industry is positive, people would just choose to hold their coins instead of spending hoping that one day, it would become valuable and they wouldn't worry in their retirement age anymore.