Generation Z is a generation born into technology. In other words, unlike the X and Y Generations, they are called ‘Native of Technology’. This undoubtedly affects the tendency of this generation to financial instruments.
If you suggest an 80-year-old man buy BTC instead of gold, you probably won’t get a positive response. Because Generation X comes from a culture accustomed to physical investments. However, Gen Z can easily turn to a cryptocurrency that they cannot physically hold. Because this generation is already accustomed to meeting these needs with other payment methods without physically using a credit card or bank today. Therefore, although the concept of a cashless society is a bit uneasy even for Generation X and even Y, Generation Z was born entirely within this culture.
Definition of Generation Z
Although it has been indicated in certain sources since 1996, the Z generation actually refers to a period from 2000 to the present. The Z generation, who were born in the age of technology, can also be regarded as an online generation, and they are already referred to in this way. In fact, they have the ability to think quickly and logically, thanks to the authority granted by technology. The ability to use these powers, on the other hand, is unique to each person. This suggests they despise working in groups. Generation Z, with their tremendous self-esteem, draws very clear borders when it comes to freedom. They have a strong need for freedom and independence, and this desire might sometimes reach the point of gluttony. They despise being constrained in their freedom or having their personal space invaded. They cannot, however, be described as ambitious.
What Do Cryptocurrencies Mean For Generation Z?
According to a recent poll, half of millenials respondents would prefer to earn half of their wage in Bitcoin or other cryptocurrencies. Using cryptocurrencies, they can easily save their investments and profit from the volatility. Tether and other stablecoins are a better way to save without worrying about inflation.
Another reason for investing in cryptocurrencies is that they are simple, rapid, and low-cost. This is a great alternative for Generation Z overseas students, traders, and those who want to transfer money back home. They don’t have to wait days for cross-border transactions, and they may do it without having to fill out a lot of paperwork.
Cryptocurrencies have changed the way Generation Z thinks about money and investments. It has evolved into a tool for people to reach their financial objectives while remaining confident in the safety of their cash. The crypto ecosystem has grown in reaction to the growing popularity of cryptocurrency investment among Generation Z. Even central governments around the world are now looking for ways to maximize their benefits while limiting their dangers. Cryptocurrencies have a lot of promise and have the potential to assist existing banking financial systems to overcome their constraints.