Bitcoin and XRP are the most popular virtual currencies for new adults (18 to 19 years old) | BitBank Investment Survey

Bitcoin and XRP are popular among young people

BitBank Co., Ltd., which operates the crypto asset (virtual currency) exchange BitBank, announced on the 11th the results of a web questionnaire survey on the actual investment status of 650 general internet users of new adults (18 to 19 years old). .

Source: Bitbank research

According to the results of a BitBank survey, approximately one in five 18- to 19-year-olds, who are now able to start investing without parental consent due to the lowering of the age of adulthood, will continue to invest in 2022. are doing.

Approximately 24% of this group were motivated to invest due to the financial education they received in high school, but the educational curriculum does not include crypto asset management, which poses a challenge for the crypto asset industry.

Among young people who started investing, the investment ratio in crypto assets reached 13.8%, and 38.9% cited “expectations for price increases in the crypto asset market in 2024” as the main reason for investment. Continuing from last year, the most popular crypto asset is Bitcoin.

Source: Bitbank research

A 2023 survey revealed 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 (XRP), which won a partial but important favorable ruling in a lawsuit with the US SEC (Securities and Exchange Commission), is also increasing.

On the other hand, many respondents gave reasons for not investing in crypto assets such as “lack of knowledge,” “it seems difficult,” and “high risk,” which is consistent with the 2022 survey results.

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Maximum investment in NISA

Source: Bitbank research

Looking at the overall results regarding investments, “NISA”, which will be new from January 2024, is the most popular investment target at 41.5%, followed by “stock investment” and “time deposits”. Regarding crypto assets and Web3, the crypto asset investment ratio was 25.9% in 2022, but it decreased to 13.8% in 2023. On the other hand, NFTs will increase from 7.8% in 2022 to 15.4% in 2023.

Among people who have started investing, the amount invested between 100,000 yen and 1 million yen or more will increase by 12.4% from the previous year in 2023. On the other hand, in terms of the proportion of total assets devoted to investment, “less than 10%” accounted for approximately 59%, not much different from 55.2% last year.

Source: Bitbank research

The most common reason for not investing in assets was “lack of knowledge,” followed by “it seems difficult,” “it’s high risk,” and “I’m not interested.”

The survey was conducted from December 14th to 21st, 2023, with 600 valid responses. The research method was an online questionnaire survey.

The background of the survey is that the Japanese government is promoting financial education as a national strategy and is working to improve financial literacy nationwide. From April 2022, financial education will become mandatory for high school students due to the lowering of the age of adulthood. The purpose of this financial education is to learn about asset formation and the basic characteristics of financial products, and to improve financial literacy. Students who have received financial education, which will become compulsory from April 2022, will become adults upon graduation in March 2024.

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