Crypto is not a get-rich-quick scheme; Millennials must choose a balanced portfolio in the long term: Experts – WION | Omd Cialis

India’s Millennials and GenZ are digitally savvy; You recognize and adopt technologies early on and focus on long-term potential. An average Crypto investor is 28 years old – they understand Crypto’s potential, have long-term financial goals and aim for a well-rounded portfolio. Short-term market cycles shouldn’t change that. Crypto is not a get-rich-quick scheme, said Ashish Singhal, co-founder and CEO of Coinswitch Kuber.

Singhal believes that crypto will bring about a once-in-a-lifetime technological shift and would transform the internet and internet-based businesses and services.

Millennials have a greater appetite for risk, which drives them to invest in cryptocurrency. According to one report, about 39% of Millennials own cryptocurrencies, more than the percentage of those who own mutual funds and about equal to the number of Millennials who own individual stocks.

I think all investments carry some level of risk, with crypto topping the list, but we have a greater risk appetite. I have also invested in cryptocurrency but I would prefer the government to regulate this so privacy concerns are addressed. With talks of a central bank digital currency, I believe crypto can become very meaningful, said Shreyashi Haldar, programs analyst at Wells Fargo.

Although the cryptocurrency market is now at its all-time low, Rajagopal Menon, Vice President of WazirX, said there is no indication that millennials are exiting crypto, rather he emphasized that the number of users within the age group is intact.

If we look at transactions between December 2021-March 2022 compared to April-June 2022, it becomes clear that the share of millennials investing in stablecoins has increased by 13%, which is significant while their ownership of meme- Coins has decreased. This can be attributed to investors becoming more informed and research-oriented when making investment decisions, Menon said.

Debrishi Pramanik, a software engineer at a leading MNC, said that despite the market crashing every other day, he doesn’t want to withdraw from his crypto investments.

Every market goes through a bull and bear phase, and right now the cryptocurrency market is going through its bear phase. I have a feeling that those who decide against crypto due to the volatility that the market is showing will regret their decision in a few years. I think this is the right time to invest if you want to expand your portfolio and make a quick buck, once the cryptocurrency market soars and hits record highs, those who have been patient with the market turmoil will be the biggest winners. said Pramanik.

A report suggests that the digital investment market will be worth $14.3 billion by 2025 and $6.4 billion in 2021 at a 5-year CAGR of 22.4 percent will grow, fueled by India’s fintech boom.

Minal Thukral, Executive Vice-President, Growth and Strategy, CoinDCX believes that millennials are certainly more inclined to invest in crypto than previous generations.

Millennials are more focused on understanding the fundamentals of the tokens they invest in. They are also more open to taking risks and adopting new technologies. We’ve also observed that most millennials make informed decisions. They invest after understanding the fundamentals of the industry, he said.

Chintan Avasthi, a final year MBA student, said that due to the current market crash he has lost almost half of the amount he invested and he would not risk losing any more.

I had invested in crypto in 2021 and seen positive growth, but the current crypto crash washed away all gains and the amount I invested was reduced to almost half. The bear market phase has been going on for quite some time, and in addition, the crypto tax has also been introduced. I wouldn’t take the risk any longer, so I retired my crypto investments, Avasthi said.

Thukral also emphasized that there has been a slight impact on the number of millennial investors due to the current bearish phase of the crypto market.

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