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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?

7 comments

Oh what a surprise. I must get about half a dozen emails a day telling me to get Bitcoin (or one of the others). And guess who has available funds? Oh yes THE OVER 45s!

Strange if you have an excellent credit rating you get lots of enticing investments.  Delete, delete, delete.

My Bitcoin emails goes right into the junk mail 

Too many people have lost money with bitcoins. They are very high risk and I won't be getting sucked in.

Im glad im stupid and its to good to be true

Cannot believe how many idiots there are out there.  Madness to invest in cryptocurrencies!

Haven't invested in it yet but am considering it. Is it safe? I'd say as safe or unsafe as any other investment. If one is used to buying and selling stock, then that's a good advantage. If you invest through trusted websites and make sure to store in a number of wallets. Have the best security possible for your online transactions and just like shares, best to diversify. 

Someone told me the other day, if I am thinking of doing it, keep wallets offline if possibe and something as simple as a USB drive can be helpful in doing that. Still more research to be done, but I am definitely thinking of it, with money, I don't depend on for my daily bread!

 

If I had something to invest and knew how to do it safely I would consider it, digital money is the future, we basically use it everyday anyway and cryptocurrencies are not much different. There are a lot of scams but there are also a lot of cluey people making a lot of money from cryptocurrencies too, knowing what is a scam and what is not is the problem with so many elaborote scams these days.

7 comments