• The research revealed that youngsters take their investments seriously and prefer electronic trading platforms.
  • 40% of the study group showed that the source of their wealth was investment returns.

A British firm named Michelmores LLP recently studied affluent millennials - people born between 1981 and 1996 with investable assets of £25,000 ($31,000) or more. The research revealed that 20% of the participants have invested in cryptocurrency, such as Bitcoin. This far surpasses the national average of 3%, and even rises to 29% for millennials with more than £75,000 ($93,000) worth of investable assets.

The study also revealed that millennials take their investments seriously and are more likely to engage with crypto exchanges and invest firms digitally. 35% said that they invested through electronic and online platforms. 27% said that they consulted social trading platforms and e-communities of traders. 

Previous generations of young people did not seem to have much regard for establishment ideas like investments. However, the study has shown that 70% of the interviewed people admitted that their wealth came from salary and wages, whereas 40% was through investment returns.

Andrew Oldland QC, senior partner at Michelmores said:

“There are many stereotypes attached to millennials – whether it’s that they spend their money frivolously or that they are overly reliant on the Bank of Mum and Dad long into adulthood. Our research challenges these myths, revealing that a significant portion of this generation who have £25,000 or more have amassed these assets themselves.”

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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