The younger generation is looking towards cryptocurrencies to make big money and not the stock market. The current generation believes that the stock market works only for the rich and provides no wealth to retail investors. The average trader is a mere pawn who gets the leftovers despite holding on to stocks for the long term. Institutional funds sell their stake at whim leaving prices to fluctuate rapidly after exiting their portfolio.
In addition, the stock market rarely delivers life-changing gains as it does not surge millions of percent in a short period. It could take years or even decades to create generational wealth in the stock market. However, that’s not the case when it comes to trading cryptocurrencies.
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Why Are Youngsters Buying Cryptocurrencies?
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Investors can bet their luck and blindly throw money on meme coins that could generate millions. There are hundreds of stories where average traders took home more than $1 million by trading meme coins. These cryptocurrencies lure youngsters who wish to make fast money without having to wait for years. Also, the 24-hour open market allows them to freely trade whenever possible on their smartphones.
“A lot of these young investors are trading cryptocurrencies because they can do it unemotionally,” said American Pacific CEO Warwick Smith. “They are buying and selling smaller coins. They can take advantage of the liquidity and because it’s easy, they can do it 24 hours a day on their cell phones. You can’t do that with junior mining stocks,” he said to Kitco News.
The ease of buying and selling cryptocurrencies that are priced lower than a cent is what attracts youngsters. The thrill of accumulating millions of coins for a small amount adds to the pleasure of trading. It doesn’t feel like it burns a hole in the pocket and allows investors to daydream of the tokens soaring in price and making millions.
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