finbold.com
A survey revealed that 86% of crypto-owning parents have purchased or plan to buy cryptocurrency for their children’s financial future. The research shows that parents believe in the long-term value of cryptocurrencies and want to educate their children about this asset class.
According to the study published in March by CouponBirds, 45.2% of U.S. parents who own cryptocurrency have already purchased some for their children. Moreover, an additional 40.6% plan to buy cryptocurrency specifically for their children in the future. This indicates a strong belief among parents in the potential of cryptocurrencies as a long-term investment.
Parents believe in crypto’s long-term value
Notably, the most common reason for purchasing crypto for children is the belief that prices will appreciate over time (52.6%). However, education (33.3%) and currency debasement (30.7%) are also key factors driving parents’ decisions. These findings suggest that parents see cryptocurrency as a valuable learning opportunity and a hedge against traditional financial systems.
Remarkably, 81.4% of parents believe cryptocurrencies will be more valuable in the next 10 years, regardless of their investment decisions. This indicates widespread optimism about the long-term prospects of digital currencies.
Furthermore, 82.3% of parents said their crypto purchases for children are on a “set it and forget it” basis, with no intention of trading or selling before their children take ownership.
Educating kids about cryptocurrencies
The survey also reveals that 79% of parents believe today’s children will use cryptocurrencies as a mainstream currency for payments. Despite the current low adoption rate for everyday transactions, parents see a future where digital currencies are widely accepted.
Additionally, 37.5% of respondents consider cryptocurrency the best long-term investment for their children, surpassing traditional options like savings accounts (18.7%) and stock/index funds (8.3%).
On that note, one-third of parents (33.3%) directly invest in crypto to educate their children about this asset class. Moreover, 81.2% of all parents surveyed believe that the younger generation should learn about the crypto market in school. This highlights the growing importance of financial literacy in an increasingly digital world.
In conclusion, the CouponBirds survey reveals a growing trend among parents to invest in cryptocurrencies for their children’s future. With a strong belief in the long-term value of digital currencies and a desire to educate the younger generation, parents are embracing cryptocurrency as a viable investment option.
As the world continues to evolve, it is clear that cryptocurrencies will play an increasingly important role in shaping the financial landscape for future generations.