Brian Norgard, the CTO of widely popular and successful dating app Tinder tweeted a CBInsights report on millennials and the future of wealth management. Norgard lists millennial investing patterns and preferences as low fees, desire for home ownership, preferred adoption of simple, fun and useful UI/UX, mobile 1st, depleting trust of large financial institutions, gamified solutions, and crypto.
Millennial investing patterns & preferences:
1. Low fees
2. Desire for home ownership
3. Preferred adoption of simple, fun & useful UI/UX
4. Mobile 1st
5. Depleting trust of large financial institutions
6. Gameified solutions
— Norgard (@BrianNorgard) August 5, 2018
Cryptocurrencies may still be a foreign concept when it comes to baby boomers, but millennials seem to favor cryptocurrencies like Bitcoin, Ethereum, and other altcoins. The preferences comes as no surprise as the younger generation seem to be moving towards a more self-sufficient culture where banking can be done independently with the use of digital currencies and payment platforms.
Finder.com reports that out of 2,001 American adults surveyed, 17% owned cryptocurrencies. Many are opting to use investments in crypto as retirement funds, all though the market still remains highly volatile.