Younger Canadian investors are more confident in crypto, survey reveals

Cryptocurrencies are more likely to be viewed as a good investment by Millennials. (Digital Trends)

As bitcoin and other cryptocurrencies remain volatile, investor anxiety is high – but how high depends on your income and age.

A survey by Environics revealed that younger Canadian investors are more confident in cryptocurrency. 40 per cent of the 1,000 surveyed who identified cryptocurrencies as ‘high return investments’ were from the 18-34 age bracket.

With an increasing number of women entering the crypto space, Canadian women were found to be willing to take higher risks. 71 per cent of the men surveyed said risk was a major concern in comparison to only 55 per cent of female respondents.

42 per cent of respondents identified the high cost of fees associated with investing as a major concern. There are free trading options, such as Coinberry or Cobinhood, but some have a limit on the number of free transactions by Canadians.

“It is a new industry and technology that people are wrapping their heads around, so building trust is crucial,” says Andrei Poliakov, President of Coinberry, which aims to attract investors by offering no-fee trades. “We want to enable Canadians of all ages to invest to understand the technology and opportunity of cryptocurrency.”

Of many factors that may hinder new investors, high income earners (those who make more than $100,000) cite risk, lack of understanding as well as security as major pain points in cryptocurrency investing.

“It was very confusing and frustrating to me as a new investor, bitesize visual material would have helped,” says Maggie Xu, a millennial cryptocurrency investor. “Spending a few minutes reading about it everyday can help clear up the confusion and mystery around cryptocurrency.”

While older investors may fear the present state of cryptocurrency, some are investing in the philosophy of transparency and its longterm promise and potential.

“It is just a much better money system. I like the idea of sound money, decentralized control and the peer to peer system,” says 46-year-old cryptocurrency investor Elio Di Iorio. “I expect to be economically active well beyond my retirement age and see cryptocurrency as being the standard form of money and value exchange by then. It’s very immature right now, kind of like the internet in the 90’s. Crypto is the currency of the future.”

While Gen-X investors are investing in the future of cryptocurrency and believe that the prime years for crypto is yet to come, Millennials say that the disruption has already begun.

“Canada is really stepping up in terms of tech development and with the number of tech jobs in Toronto surpassing Silicon Valley, it is an exciting time to be an investor in Toronto right now,” says Xu.

Another factor that is attracting younger investors is the transparency of the industry.

“The ‘we are here, very open and ask us anything’ attitude is a really good trend to see,” says Xu. Older investors are attracted to the ‘low maintenance’ aspect of the investment.

For rate of return, both Millennial and older investors see it as a longterm investment. 39 per cent of all 18-34 year olds surveyed recognized cryptocurrencies as high-return investments.  

With younger investors staying loyal to cryptocurrency despite its unpredictability, this finance fad is here to stay and investors are in it for the long run.

Download the Yahoo Finance app, available for Apple and Android.

  • Pregnant Meghan Markle reveals why she had a 4:30am wake-up call – and it might surprise you
    News
    Hello!

    Pregnant Meghan Markle reveals why she had a 4:30am wake-up call – and it might surprise you

    The Duchess of Sussex has been travelling non-stop this week, jetting around Australia on her royal tour with husband Prince Harry. The royal, who is expecting her first child, told a group of beachgoers at Bondi Beach that she was up early to do yoga first thing in the morning, adding that it was "so good for healing your mind". Charlotte Waverley, 35, who is expecting and had her two-year-old son, Finn, with her, talked to the Duchess about pregnancy: "Meghan told me that pregnancy was like having jet lag.

  • What is Stacey Dooley's net worth?
    News
    Hello!

    What is Stacey Dooley's net worth?

    Presenter Stacey Dooley is wowing the judges on Strictly Come Dancing this year. The popular presenter is partnered with professional dancer Kevin Clifton. The journalist has been the presenter of BBC Three's Stacey Dooley Investigates series of documentaries since 2008 (you can catch them on the BBC iPlayer) covering women's issues and issues focused on younger people, and recently made headlines for her fashion industry documentary.

  • Ayda Williams just wore THE most stunning dress on Good Morning Britain
    News
    Hello!

    Ayda Williams just wore THE most stunning dress on Good Morning Britain

    READ MORE: How are Robbie Williams and Ayda Field friends with Princess Eugenie and Jack Brooksbank? The wife of Robbie Williams was a guest at Princess Eugenie's wedding on Saturday, and her six-year-old daughter Theodora accompanied the royal up the aisle as a bridesmaid.

  • EU summit: No breakthrough but new Brexit headache for Theresa May
    News
    Sky News

    EU summit: No breakthrough but new Brexit headache for Theresa May

    Theresa May has seen an EU summit pass with no Brexit breakthrough as she was hit by a growing backlash over plans to lengthen the UK's transition period. There had been hopes this week's gathering of EU leaders in Brussels - previously dubbed the "moment of truth" for Brexit - could overcome the impasse in negotiations. French President Emmanuel Macron told Mrs May to "come back with a solution based on the necessary political compromise on the UK side" in order to achieve a deal.

  • MPs must not bow to Theresa May's pressure on this Brexit proposal for fear of no deal – there are other options
    News
    The Independent

    MPs must not bow to Theresa May's pressure on this Brexit proposal for fear of no deal – there are other options

    Theresa May has finally managed to unite her party’s warring factions on Brexit. With time running out to get a deal, previously loyal cabinet ministers wonder how long they should let May flog her dead Chequers horse. Eurosceptic and pro-EU Tory MPs are furious about a plan – confirmed by EU sources (to May’s frustration) at Thursday’s Brussels summit – to extend the transitional period after the UK’s departure by a year, until December 2021.

  • Talking Politics
    News
    Politics.co.uk

    Talking Politics

    The only remaining issue preventing a deal is the Irish backstop. This is the promise that, no matter what, there will be a frictionless border in Ireland. Theresa May’s solution is to make sure it’ll be never be used, by signing up the whole of the UK to the customs union and the single market for goods.

  • Emmerdale spoilers: Ross Barton's exit revealed as he plans to take this person with him?
    News
    Hello!

    Emmerdale spoilers: Ross Barton's exit revealed as he plans to take this person with him?

    Emmerdale fans have been anticipating Ross Barton's exit storyline for the past few months, when actor Michael Parr revealed his plans to quit the ITV soap earlier in the year. Elsewhere, Chas and Paddy struggle as they say a heartbreaking goodbye to their baby daughter Grace at her funeral, while Bernice's affair is threatened to be exposed when she is confronted by Kerry. Ross then suggests that they leave Emmerdale and make a fresh start.

  • Chelsea vs Manchester United: Jose Mourinho no longer inspires young coaches... he is a manager frozen in time
    News
    Evening Standard

    Chelsea vs Manchester United: Jose Mourinho no longer inspires young coaches... he is a manager frozen in time

    If Jose Mourinho cannot manage to reinvent himself in the next few years, he may cease to be the idol of young Portuguese coaches. Despite his recent sacking by Monaco, Leonardo Jardim has plenty of admirers here in Portugal. The perception of Mourinho now is very different from when he was at FC Porto, during his first spell at Chelsea and at Inter Milan.

  • Jacob Rees-Mogg: MPs won't back 'waffly' plan to extend Brexit transition period
    News
    Yahoo News UK

    Jacob Rees-Mogg: MPs won't back 'waffly' plan to extend Brexit transition period

    Jacob Rees-Mogg rejects plan to give Britain an extended transition period to leave the European Union, saying Parliament would not back the idea.

  • Love Island's Dr Alex reacts to Sam & Georgia backlash
    News
    Digital Spy

    Love Island's Dr Alex reacts to Sam & Georgia backlash

    First comes the shade, and then the response.

  • Now even the government admits it: no-deal would ground our aircraft
    News
    Politics.co.uk

    Now even the government admits it: no-deal would ground our aircraft

    Hidden away in the government’s latest batch of no-deal preparedness notices this week was the dirty little secret that Brexiters have spent the last two years denying. Brexit’s most tangible disaster and Project Fear’s most lurid poster-child is at last being dryly reported in government ink: grounded aircraft. The government says it "envisages” granting permission for EU airlines, but only “expects” EU countries to reciprocate.

  • Mayweather attacks Canelo Álvarez on Instagram over failed drug tests, and says their fight was the 'easiest night' in his whole career
    News
    Business Insider UK

    Mayweather attacks Canelo Álvarez on Instagram over failed drug tests, and says their fight was the 'easiest night' in his whole career

    Floyd Mayweather has attacked his former opponent Saul "Canelo" Álvarez on social media. Mayweather referenced Álvarez's failed drug tests for trace elements of clenbuterol, said their 2013 fight was the "easiest night" of his entire career, and scoffed at the Mexican's new $365 million DAZN contract. Mayweather said he could earn $300 million for one fight, on one night, which is almost the same as Canelo would make for 11 fights in five years.

  • People's Vote march: More than 100,000 set to descend on streets of London for huge anti-Brexit rally
    News
    Evening Standard

    People's Vote march: More than 100,000 set to descend on streets of London for huge anti-Brexit rally

    More than 100,000 people are set to take to the streets of London on Saturday to demand a people’s vote on Brexit. The central London march, which will start in Park Lane and end in Parliament Square, is expected to be the biggest public protest so far against the current Brexit situation. Activists will march through the capital demanding the government give the British people another vote on the final deal with the European Union.

  • We're dotty over Kate Middleton's polka dot dress she wore for secret engagement
    News
    Hello!

    We're dotty over Kate Middleton's polka dot dress she wore for secret engagement

    The Duke and Duchess of Cambridge hosted a surprise engagement at their home in Kensington Palace for the finalists of this year's BBC Radio One's Teen Hero Awards on Wednesday. The visit - to celebrate the Teen Heroes of 2018 - saw Kate don one of her most stylish dresses and we really love the colour on her. Fans of Kate’s style will know that she loves a polka dot number - from the Dolce & Gabbana dress she wore to Wimbledon to the famous baby blue Jenny Packham dress she wore on the steps of the Lindo Wing to introduce Prince George to the world - it's one of her go-to prints.

  • West Ham captain Mark Noble: It’s frightening how much Harry Kane has played... it’ll catch up with him for sure
    News
    Evening Standard

    West Ham captain Mark Noble: It’s frightening how much Harry Kane has played... it’ll catch up with him for sure

    A home game against Tottenham is always a special one for West Ham fans — and I am no different. Seriously, though, it’s frightening when you look at how much football Harry Kane has played in recent months.

  • Election thumping on the cards for Merkel coalition parties - polls
    News
    Reuters

    Election thumping on the cards for Merkel coalition parties - polls

    German Chancellor Angela Merkel's conservatives and the centre-left Social Democrats (SPD) both face a drubbing in a regional election on Oct. 28 that risks further weakening their crisis-plagued national government, polls showed on Thursday. The drop in support for Merkel's Christian Democrats (CDU) comes after their Bavarian sister party, the Christian Social Union (CSU), suffered its worst performance since 1950 in a state vote on Sunday. Poor back-to-back results for Merkel's conservative alliance would undermining her standing going into a CDU party conclave followed by the party's annual congress in early December.

  • On a Wingsuit and a Prayer, Man Flies Down Swiss Alps
    Storyful

    On a Wingsuit and a Prayer, Man Flies Down Swiss Alps

    Using a wingsuit, thrill-seeker Steve Shipman jumped from the mountainside of the Walenstadt area in Switzerland. The video, uploaded to YouTube, shows Shipman’s nylon suit catching the wind as he soars down a height of 5,400 feet to the ground below In a Facebook post, Shipman estimated that he achieved a speed of “around 180 Kph”. Credit: Steve Shipman via Storyful

  • X Factor's Top 16 contestants get an all-star makeover
    Digital Spy

    X Factor's Top 16 contestants get an all-star makeover

    With the first live shows imminent... From Digital Spy

  • Total ban on new petrol and diesel cars should be brought forward to 2032, MPs say
    News
    Evening Standard

    Total ban on new petrol and diesel cars should be brought forward to 2032, MPs say

    A total ban on new petrol and diesel cars and vans should be brought forward to 2032 to boost sales of electric vehicles, MPs have urged. Ministers must "get a grip" and tackle a lack of charging points, one of the main barriers to people buying electric cars, the parliamentary Business Committee warned. The Government outlined a goal for an end to sales of new "conventional" petrol and diesel cars by 2040 as part of efforts to clean up transport which causes air pollution.

  • News
    Business Insider UK

    What's next for Paul Allen's big investments? It's not clear

    SEATTLE (AP) — Billionaire Microsoft co-founder Paul Allen invested large sums in technology ventures, research projects and philanthropy, some of it eclectic and highly speculative.

  • Police bracing for Brexit hate crime spike against EU citizens and migrants in March
    News
    The Independent

    Police bracing for Brexit hate crime spike against EU citizens and migrants in March

    Police are bracing for a fresh spike in hate crime when Britain leaves the EU in March. Officers fear a repeat of the wave of xenophobic attacks around the 2016 Brexit referendum, which saw numerous physical and verbal assaults on European citizens, including a student who was stabbed in the neck for speaking Polish. Superintendent Waheed Khan, the Metropolitan Police’s deputy lead for hate crime, said officers would be carrying out proactive work with community groups and awareness campaigns in an attempt to deter potential offenders.

  • Iran has found a new way to harass US warships, and it's got the US Navy on edge
    News
    Business Insider UK

    Iran has found a new way to harass US warships, and it's got the US Navy on edge

    The US Navy says it hasn't had an unsafe interaction at sea with Iran in more than a year. During that period, however, Iranian drones have become more active over the Persian Gulf, worrying the Navy. Iran's drones are just one asset Iran has that it could use to challenge freedom of movement in th Gulf.

  • Celebrity chef Eric Lanlard reveals how to make your own showstopper cake
    News
    Hello!

    Celebrity chef Eric Lanlard reveals how to make your own showstopper cake

    When it comes to making a wedding cake, most people leave it to the professionals. HELLO!’s favourite master patissier Eric Lanlard shares his secrets to making your own stunning showstopper, which is created in tiers, so you can bake and decorate as many as you need to feed your guests. “I have always loved making wedding cakes for my friends and family – even if it does make me a little more nervous than usual.

  • News
    Sky News

    Farm locked down after mad cow disease found in Scotland

    A case of BSE, also known as mad cow disease, has been confirmed on a farm in Aberdeenshire. Movement restrictions have been put in place at the farm in Scotland while authorities try to identify the origin of the disease. The Scottish government said it was standard procedure for a confirmed case of BSE "which does not represent a threat to human health".

  • Esther Rantzen: Britons treat older people 'worse than animals'
    News
    The Telegraph

    Esther Rantzen: Britons treat older people 'worse than animals'

    People prefer animals to old people because they are "not cuddly enough", Dame Esther Rantzen has said as she appealed for funds to support her loneliness charity for pensioners.