A recent survey in New Zealand revealed that young people are trying their luck in digital investments faster than other age groups as cryptocurrencies and shares investments continue to be on the rise in the country.
According to New Zealand Herald, a survey for the Financial Services Council found that 40% of Kiwis are currently using or intend to use micro investing platforms in the future.
The poll also found that 21% of the 2,000 respondents have either already invested in cryptocurrencies or are planning to buy digital coins in the near future. The number increased by 7% from where it stood in March 2020.
Meanwhile, between March last year and April 2021, there is also a significant increase in the number of actual crypto investors in the country, from just 3% to 9.5%.
Following the global trend
“The research shows that since early 2020 New Zealand has followed the global trend towards investing in shares, as well as more speculative assets such as cryptocurrencies,” said FSC Chief Executive Richard Klipin about the findings of the survey.
The official also put emphasis on the significant rise in the number of digital investors in their country over the past 18 months.
He said their research showed 38.2% of adult New Zealanders “currently use, or plan to use, micro-investing platforms.” The percentage figure corresponds to 1.5 million people living in the country.
Concerns about security issues
The survey also revealed citizens remain worried about security issues associated with investments on new technologies such as cryptocurrencies.
Klipin said this is understandable after a number of high-profile cyberattacks and ransomware exploits. He added the concern is an encouraging sign, implying many are wary about the privacy of their personal information and their finances when using online platforms.
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