Bitcoin celebrated its 10th anniversary in 2019 and the young people are the main investors in virtual currency, according to a study published by the Global Blockchain Council, 58% of about 24 million accounts belong to young people between 18 and 34 years old, and 71% of accounts are male.
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“Being a high-risk asset, traditionally there is a greater propensity to be acquired by men rather than women,” adding that “empirical studies of economic decision theory, in a context of uncertainty, have pointed to women being more averse to risk”.
Only 3% of baby boomers, aged 55/65, have bitcoins.
We can conclude that the fact that the younger population is looking for fast, cheap, and financially independent digital means of payment has triggered the use of bitcoin.
It's very interesting to realize that it's the youngest who have the most accounts, maybe because it´s an innovative technology... Firstly, “you can't fiddle in your pocket and find a bitcoin, because this coin doesn't exist physically, it's totally virtual,” and its issue is neither made nor controlled by a central bank.
Virtual currencies are stored in a kind of wallet that is created when you register. After registration, the person is given a code with letters and numbers, called the “address”, used in the transactions, and when the bitcoin holder wants to buy something, a game, for example, must give the seller that address.
Throughout the process the identities of the buyer and seller are kept anonymous, but the transaction is publicly registered and the purchase cannot be reversed.
Of course, young male adults have much more responsibilities to shoulder, hence they need additional sources of income mostly online.