Why Young Generation Likes Crypto More Than Banks? Check What CCI Poll Shows

Young Generation Loves Crypto: Crypto Council for Innovation (CCI), an industry group backed by companies including Coinbase, Paradigm, and Fidelity Digital Assets, recently conducted a poll to learn about young voters’ attitudes toward cryptocurrency. The poll discovered that a candidate’s stance on cryptocurrency may have an impact on the outcome of the US midterm elections.

CCI’s poll has shown that a sizable portion of voters are favourable toward cryptocurrency and want to see it acknowledged as a major and legitimate component of the economy. According to the survey, young people find cryptocurrency particularly compelling.

Between October 8-10, the CCI conducted a survey of 1,208 people to learn more about their opinions on cryptocurrencies. According to the survey, 13% of respondents own cryptocurrencies, which is more than the 5% of bond holders and on par with the 16% of respondents who own stocks and the 12% of respondents who own mutual funds.

According to Cory Gardner, the political affairs chief strategist for CCI and a former senator from Colorado, this group of HODLers might have an impact on the upcoming elections.

Also Read: Expert Explains How Crypto Will Impact US Presidential Election 2024

According to the report, the majority of Latino and African American respondents said credit unions and cryptocurrencies were better than banks.

The study also revealed that respondents preferred social media (36%) over traditional news sources (31%) as their preferred source of financial information.

“Regulators have to understand where people get their information from”, Gardner said.

Respondents’ Opinions

In contrast to 36% of respondents who wanted to see cryptocurrency “as a vehicle for fraud and abuse,” 45% of respondents said they wanted lawmakers to “see cryptocurrency as a significant and genuine element of the economy,” and 52% said that cryptocurrency needed stronger regulation. However, political affiliation is not a factor in the disagreement between supporters and opponents of cryptocurrency.

Also Read: Top Reasons Why College Students Need To Invest In Cryptocurrencies in Year 2022

Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet. Contact him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.