French millennials embrace crypto investments amid rising digital influence

cyptouser11 months agoCryptocurrencies News175

The investment landscape in France is witnessing a significant shift, with an increase in interest in crypto among younger citizens.

A recent study published by the Autorité des marchés financiers (AMF) and conducted by Audirep reveals intriguing insights into the evolving behaviors and preferences of new retail investors in France, with a notable emphasis on crypto-assets. The survey, conducted in spring 2023, provides a comprehensive overview of the emerging investment patterns, especially since the onset of the COVID-19 pandemic.

Nearly one in four French adults (24%) are engaged in investments in financial instruments or crypto-assets. This indicates a considerable increase in retail investment activity, with half of these investors having started since 2020. This new wave of investors represents about 12% of the adult French population, with a striking 9% owning crypto-assets.

The profile of these new investors is exciting. They are generally younger, with an average age of 38, and exhibit a distinct “digital” profile regarding sourcing information and investing. A significant 65% hold crypto-assets and many rely heavily on social media (68%) and influencers (41%) for investment information. This reliance on digital channels underscores the growing influence of online platforms in shaping investment decisions.

Furthermore, the study highlights that 67% of those holding crypto-assets are satisfied with their investment performance, compared to 62% overall satisfaction among new retail investors. This satisfaction is noteworthy, given the volatile nature of cryptocurrencies. However, the report also raises concerns about the overestimation of financial knowledge among these investors, particularly young people aged 18 to 24 and those from lower socio-professional categories. Only 48% of new investors understand the concept of risk reduction through asset diversification.

The interest in crypto-assets is particularly pronounced among younger investors, with 63% of new investors aged 25-34 owning crypto-assets, compared to just 25% of traditional investors. This demographic is also more likely to engage in gambling activities, both online and offline, indicating a higher tolerance for risk.

Moreover, these new crypto investors, on average 37 years old, often exhibit financial confidence, with average financial assets of €117,000 and an average investment of €9,317. A substantial 58% have invested in crypto-assets, and 70% are more likely to consult a professional advisor before making investment decisions.

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Coinbase says it will not facilitate Ocean-Fetch AI merger

Coinbase said it would not facilitate the migration of two assets related to the Artificial Superint...

How to generate passive crypto income with masternodes

How to generate passive crypto income with masternodes

55966e89˃Masternode hosting enables one to engage with cryptocurrencies on a deeper level. Users can...

SEC announces Twitter account was compromised and ETFs have not been approved

UPDATE: Gary Gensler announced on Twitter the SEC account was compromised and the ETFs have NOT been...

Turkey tops the world in stablecoin buying share vs. GDP

Turkey tops the world in stablecoin buying share vs. GDP

1205f261˃The United States may lead the world in stablecoin transaction volumes, but its share of st...

At $61,594 Bitcoin is at fair market price according to the power law model

At $61,594 Bitcoin is at fair market price according to the power law model

On a monumental day for Bitcoin, where it opened at $56,900, the flagship digital asset has official...

Crypto VC sees a ‘new class’ of profitable memecoins this cycle

Crypto VC sees a ‘new class’ of profitable memecoins this cycle

92485d12˃Memecoins that can capitalize on deeper “culture” this cycle could be far more profitable t...