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Gen Z’s love for Bitcoin could transform the crypto market

Moneymagpie Team 17th Aug 2023 No Comments

Reading Time: 4 minutes

The influence of Gen Z is often associated with quirky fashion choices and makeup tutorials, but in reality, it goes beyond these things. The young generation is also redefining cultural trends and transforming financial paradigms. These individuals have an affinity for Bitcoin, as their values align with the principles on which the digital currency is based, namely inclusivity and transparency.

Because they grew up in the digital age, people from Gen Z have a different mentality, prioritizing diversity and equality and engaging in activism across social media channels. They seek freedom, and that’s exactly what Bitcoin gives them. This is perhaps one of the most important reasons why they are into cryptocurrency despite what all the skeptics and critics say about it. Digital assets are accessible and convenient, as users can buy bitcoin with credit card right from their smartphones. Cryptocurrencies aren’t only about making profits – they empower young individuals to take their lives into their own hands, which is invaluable to them.

Bitcoin matches Gen Z’s financial goals

Many Americans aged 18-25 have embraced cryptocurrencies and NFTs, with the former being the most common type of investment for Gen Z. As the young generation matures, there will be a lot of room for the Bitcoin economy to boom in the US. It isn’t difficult to understand why Bitcoin is so alluring for teens. After all, it’s a new technology, and Gen Z always keeps up with the trends. Let’s take social platforms as an example. At some point, Facebook used to be very popular, but right now, young people are no longer excited about it – they prefer scrolling and posting on Instagram. It’s the same for crypto – for Gen Z, digital assets are just like Instagram, and other types of investments, such as bonds and stock, are like Facebook – outdated.

According to a report on Gen Z’s financial goals, young individuals who have yet to get into investing are trying to meet their basic needs. They want to have money left for vacations and not live paycheck to paycheck. However, Bitcoin is still relevant even to those who don’t have much disposable income. Earning Bitcoin enables Gen Z individuals to tackle short-term expenses while simultaneously striving to achieve long-term financial security.  

Gen Z is facing a more challenging economic environment than the previous generation, with high unemployment rates and the rising cost of living being two major concerns for them. Lack of investing knowledge and a reliable income are significant obstacles that prevent them from investing. As a result, many of them find it more accessible to earn Bitcoin via mobile gaming, as this is a more convenient way of building wealth instead of opting for traditional investments like stocks.

Gen Z – a tech-savvy demographic that values authenticity

The digital world is vast, so understandably, it can be challenging for crypto marketers to reach Gen Z customers. Although crypto is seeing increased widespread adoption, young individuals have their digital preferences, demanding a unique marketing approach. They lack interest in traditional TV and prefer using social media apps to consume content. This highlights the need for crypto marketers to develop effective strategies that will enable them to connect with Gen Z. While YouTube is one of Gen Z’s favourite platforms, TikTok, Instagram and Snapchat are also very popular. As a result, crypto businesses should promote their campaigns on all these platforms to reach their target audience successfully.

It’s not enough to just understand Gen Z’s favourite digital platforms. Crypto businesses should also take the time to figure out what kind of content young individuals enjoy consuming online. Old marketing vehicles may not be so effective anymore, given that Gen Z seeks authenticity above anything else. These individuals look for genuine experiences and connections, preferring brands that focus on innovation and provide tangible value. This makes it critical for crypto marketers to come up with credible messages and focus on emphasizing the socioeconomic benefits of digital assets. Garnering the trust of Gen Z customers ultimately comes down to demonstrating ethical conduct and CSR initiatives.

Influencer marketing – a powerful way of reaching Gen Z customers

Gen Z represents the next consumer generation, so businesses that want to remain competitive in the market should focus on engaging with this demographic in particular. However, staying relevant to a Gen Z audience is definitely not a piece of cake. But analysing their behaviour can help crypto brands identify the best ways to target them. For instance, influencer marketing is a great way to engage the young generation on social media in an organic and impactful way.

Gen Z trusts influencers so much that they make purchasing decisions based on their recommendation. Perhaps the reason why they relate to a great extent to influencers is that they value self-expression. Consumers seek validation and connection in the online space, and they find these things when listening to influences’ relatable stories. This is why influencer marketing is such a game-changer in the marketing world, helping brands reach customers and promote their projects on a massive scale. This is done by engaging with Gen Z on a meaningful level, thus building genuine connections, which plays a huge role in influencing consumers purchasing decisions. However, influencer marketing presents its own obstacles, as there are many influencers out there, making it crucial to partner with someone who aligns with your brand’s values.

Gen Z is leading the way in digital transformation

Crypto adoption is significant among Gen Z, with many young individuals investing in crypto assets. Since they grew up in the digital world, they are open to innovative technologies like cryptocurrencies. Plus, they are financially aware and, thus, look for alternative investment options that enable them to accumulate wealth in the long run while also providing them with the independence they need.

It’s evident that Gen Z plays a significant role in digital transformation, redefining common beliefs about money and investing. Creating an equitable economy is very important for young individuals, and Bitcoin promises a world where everyone can access financial services without limitations. As Gen Z keeps investing and advocating for digital assets, adoption rates are expected to increase, allowing the crypto market to grow even further.  

Disclaimer: Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.

MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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Jasmine Birtles

Your money-making expert. Financial journalist, TV and radio personality.

Jasmine Birtles

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