Bitcoin and XRP are the most popular virtual currencies among new adults (18-19 years old).
Bitcoin and XRP are popular among young people.
Bitbank Co., Ltd., which operates cryptocurrency (virtual currency) exchange Bitbank, announced on the 11th the results of a web survey conducted on 650 new adult (18 to 19 years old) general Internet users. . .
Source: Bitbank Research
According to a Bitbank survey, about one in five 18- to 19-year-olds, who have been able to start investing without parental consent due to the lowering of the age of majority, are expected to continue investing in 2022. Act.
About 24% of this group were motivated to invest due to financial education they received in high school, but the educational curriculum does not include cryptocurrency asset management, which poses a challenge for the cryptocurrency industry.
Among young people who started investing, the proportion of cryptocurrency investment reached 13.8%, and 38.9% cited ‘expectations of a rise in the cryptocurrency market price in 2024’ as the reason for investment. Continuing from last year, the most popular cryptocurrency is Bitcoin.
Source: Bitbank Research
A 2023 survey found that young people are increasingly interested in Metaverse and NFT-related blockchain projects such as Decentraland (MANA) and Chili’s (CHZ). In addition, the popularity of Ripple’s (XRP), which received a partial but important victory in a lawsuit with the U.S. Securities and Exchange Commission (SEC), is also increasing.
On the other hand, many respondents gave reasons for not investing in cryptocurrency, such as “lack of knowledge,” “it seems difficult,” and “the risk is high,” which is consistent with the results of the 2022 survey.
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Largest investment in NISA
Source: Bitbank Research
Looking at the overall results related to investment, ‘NISA’, which will be newly introduced from January 2024, was the most popular investment target at 41.5%, followed by ‘stock investment’ and ‘term deposit’. In the case of cryptocurrency and Web 3, the cryptocurrency investment ratio decreased from 25.9% in 2022 to 13.8% in 2023. On the other hand, NFTs are expected to increase from 7.8% in 2022 to 15.4% in 2023.
Among those who started investing, the amount invested between 100,000 yen and 1 million yen will increase by 12.4% in 2023 compared to the previous year. “More than 10%” was about 59%, which was not much different from last year’s 55.2%.
Source: Bitbank Research
The most common reason for not investing in assets was ‘lack of knowledge’, followed by ‘it seems difficult’, ‘the risk is high’, and ‘I am not interested’.
This survey was conducted from December 14 to 21, 2023, and the number of valid responses was 600. The research method used an online survey.
The background to the survey is that the Japanese government is promoting financial education as a national strategy and is making efforts to improve financial literacy nationwide. Starting in April 2022, financial education for high school students will be mandatory following the lowering of the age of majority. The purpose of this financial education is to learn the basic characteristics of asset formation and financial products, and to improve financial understanding. Students who receive mandatory financial education from April 2022 will become adults upon graduation in March 2024.
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