Older Australians increasingly investing in cryptocurrencies
While millennials are often touted as the most 'tech-savvy' of the generations, Baby Boomers are catching up when it comes to getting among the cryptocurrency action.
Adrian Przelozny, chief executive and founder of Independent Reserve said the platform's latest data revealed that the average cryptocurrency investor is transforming from early technology adopters to forward thinking investors.
"When we first launched Independent Reserve in 2014 the majority of users trading on our platform were relatively young technology adopters and libertarians,” he said.
“Now we’re steadily seeing the average age of our customers increase. The 45+ age group now accounts for almost 30 per cent of users on our platform. In 2017, this was just 22 per cent."
Mr Przelozny said that it was getting easier and safer to enter the cryptocurrency space.
"Now that regulators are actively involved in the crypto space, confidence levels are starting to rise. Smart money can see that the industry is growing and is here to stay. Those who want to diversify their portfolios are looking at cryptocurrencies as an asset that's typically not correlated to what’s happening in the economy, for example the property and stock market.”
Have you ever considered investing in digital currencies? Do you think it is a safe investment?