{"id":220540,"date":"2022-02-20T22:11:20","date_gmt":"2022-02-20T22:11:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=220540"},"modified":"2022-02-20T22:11:20","modified_gmt":"2022-02-20T22:11:20","slug":"understanding-u-s-millennial-appetite-for-crypto","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/understanding-u-s-millennial-appetite-for-crypto\/","title":{"rendered":"Understanding U.S. Millennial appetite for crypto"},"content":{"rendered":"

Compared to the global average, reduced financial well-being observed among US millennials could be connected to their increased interest in alternative financing methods, according to the data published<\/a> in a recent report by Morning Consult<\/i>.<\/p>\n

Amid rising financial vulnerability, roughly every other millennial in the US owns cryptocurrency, however, Gen Z adults have also picked up on the trend and are rapidly growing in share.<\/p>\n

Financial well-being score<\/h2>\n

According to the report, the financial well-being score is \u201ca reflection of consumers\u2019 impressions of their financial security and freedom of choice,\u201d and based on polls conducted monthly among 2,200 or 4,400 US adults, this particular demographic is having a tough time finding both.<\/p>\n

\"\"
Financial well-being scores: All US adults compared to millennials (Source: Morning Consult)<\/figcaption><\/figure>\n

Millennials score well below average globally, with the exception of Spain and Latin America, noted the report. However, American and Canadian millennials are particularly under the weather.<\/p>\n

\"\"
Millennial financial well-being across countries (Source: Morning Consult)<\/figcaption><\/figure>\n

In order to meet their wide range of financial goals and needs, millennials are more likely to\u00a0seek financial advice and are more social about their finances than other demographics, the report found.<\/p>\n

\u201cFar from being shy, millennials are more likely than other generations to report discussing their finances,\u201d read the report, adding that\u00a0millennials tend to use a number of financial service providers simultaneously.<\/p>\n

Driving the crypto adoption<\/h2>\n

\u201cTrying to be the only bank a millennial works with is an exercise in futility,\u201d pointed out financial services analyst Charlotte Principato, who summarized the data and wrote up the report, explaining that the digital savvy age group is also \u201cdriving the usage of alternative financial services, cryptocurrency and BNPL services.\u201d<\/p>\n

According to the report, cryptocurrencies have entered the mainstream in the US\u2013with nearly one in four participants (24%) reporting household ownership.<\/p>\n

\"\"
Cryptocurrency ownership compared to other forms of investment (Source: Morning Consult)<\/figcaption><\/figure>\n

The percentage of adults who own crypto is roughly equal to that of owning a certificate of deposit. Furthermore, crypto ownership is not lagging far behind the share of those reporting to have a brokerage account.<\/p>\n

According to the report, nearly every other millennial in the US owns some form of cryptocurrency.<\/p>\n

\"\"
Household crypto ownership by generational group: Polls conducted monthly among representative samples of 2,200 or 4,400 U.S. adults (Source: Morning Consult)<\/figcaption><\/figure>\n

However, \u201cGen Z adults have also shown strong growth in cryptocurrency ownership and will continue to be instrumental to the success of cryptocurrency more broadly,\u201d Principato concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Compared to the global average, reduced financial well-being observed among US millennials could be connected to their increased interest in alternative financing methods, according to the data published in a recent report by Morning Consult. Amid rising financial vulnerability, roughly every other millennial in the US owns cryptocurrency, however, Gen Z adults have also picked […]<\/p>\n","protected":false},"author":699,"featured_media":220694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nUnderstanding U.S. Millennial appetite for crypto<\/title>\n<meta name=\"description\" content=\"Compared to the global average, reduced financial well-being observed among US millennials could be connected to their increased appetite for crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/understanding-u-s-millennial-appetite-for-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding U.S. Millennial appetite for crypto\" \/>\n<meta property=\"og:description\" content=\"Compared to the global average, reduced financial well-being observed among US millennials could be connected to their increased appetite for crypto.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/understanding-u-s-millennial-appetite-for-crypto\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-20T22:11:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/us-millenial-crypto.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/understanding-u-s-millennial-appetite-for-crypto\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/understanding-u-s-millennial-appetite-for-crypto\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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