Research conducted recently by Charles Schwab, a major financial group in the United States has revealed fresh insight into the investment habit of young people in Britain.
The survey identified that this portion of the population was twice as likely to purchase cryptocurrencies like Monero or bitcoin than they were to buy more traditional stocks.
The recent study was carried out this year between February and March, and surveyed thousands of respondents. The UK investors taking part in the research were over 18 in age and held at least one form of investment from an established list of selected assets that included bonds, equities, exchange-traded funds, certificates of deposit along with contracts for difference.
The survey revealed that around 51% of the Generation Z and millennial investors with ages between 18 and 37 owned or traded in cryptocurrencies, showing an increase from the 44% recorded in May 2020. Additionally, 70% of respondents viewed cryptocurrency as a sound investment.
The research also found that a mere 8% of investors who were aged 55 and over traded in cryptocurrency, while around only 25% of young investors purchased or held equities.
The study’s findings also intimated that around 7 in every 10 young investors possessed uncertainty on how to protect themselves against losses in the present economic environment.
UK citizens of all ages seeking investment advice in Chester, Birmingham and other cities across the country can count on independent financial guidance from professional wealth management firms.