There is a global trend that has changed the way people invest their money. Especially for Millennials and Generation Z. This change has been greatly aided by the invention of the internet and smartphones. Now it is easier to keep track of stock markets and capital inflows, but also to play WooCasino.
Compared to their parents’ and grandparents’ generation, they have more knowledge about investments at the same age. Millennials and Generation Z show that they have diversified portfolios at a young age.
Although stocks and EFTs (exchange-traded funds) still play a role in diversifying a portfolio, it is cryptocurrency that has become more attractive to younger generations.
Investing has really moved online. Cryptocurrencies or other things can be bought and sold within seconds. This has become possible thanks to various applications on the Play Store. No matter what you want to invest in, you can quickly find the right thing for you. Be it ETF, stocks or crypto.
As more and more younger people own a smartphone, this has led to more and more investors buying their cryptocurrencies via apps. Favorites include Binance or Trade Republic.
They have a wide user base around the world and are considered reliable. These consumer-friendly systems simplify the buying process and keep track of your funds.
The majority seems to agree on which currency to invest in.
In addition to Bitcoin, Ethereum, BNB, and Litecoin have also been chosen.
Newcomers to the financial world make the mistake of having high hopes. They see successful people on social media and think, this is possible for me too. Which, of course, is undeniable. But it is rare. Especially with cryptocurrencies. So it is better to know your risks and also your opportunities.
But this topic is still considered very confusing and risky among younger people. Knowledge is the key here. It is important that you read up on the subject. Also, keep in mind that it is time consuming to track the performance of stocks. So when to sell and when to buy. You can ask your parents or just google to find a million pages of advice. To be safe it is clever to set up a financial plan. So you can be sure to never invest more than you can afford. Never invest more than you can afford.
The next step is to weed out the useful information. Do not be too afraid. But remember that you can also fail.