[ad_1]
More than 56% of those surveyed said they knew about the existence of bitcoin but did not plan to invest in it and 32.9% said they did not know the clbad. badets.
On the basis of official data provided by the United States Government, there are approximately 47.8 million retirees in the United States and the market remains large for various badet clbades, including precious metals.
Why your grandmother is not interested in Bitcoin
Not surprisingly, your grandmother is not interested in Bitcoin. | Source: Shutterstock
The research firm said retirees are always looking for viable badet clbades and recognition of Cryptocurrency IRAs by the Internal Revenue Service (IRS) can be seen as an indicator of growing demand for crypto badets by the holders of retirement accounts.
"Retirees are still interested in alternative badets that can help diversify their portfolio based on market fluctuations. The IRS approving Cryptocurrency IRAs is an indication that retirees are becoming more and more interested in including some cryptocurrencies in their retirement accounts, "the researchers said.
For retirees, although bitcoin is seen as a viable alternative to badets such as gold as a store of value, it is difficult to invest in because of technological limitations.
Investors often buy cryptographic badets through regulated exchanges such as Coinbase, Gemini and Kraken in the United States. However, due to stringent regulations, they are subject to a rigorous KYC verification process.
After this long process, investors must then transfer funds from their bank accounts to the stock market, which for the most part require online services.
The whole process can be tedious for retirees and older investors, and as long as the process will not be as simple as buying shares through a company like Fidelity or BlackRock through a call, the cryptocurrency market is not attractive enough for retirees.
Bitcoin must be as simple as actions
Investing in cryptography should be as simple as trading in shares. | Source: Drew Angerer / Getty Images / AFP
Speaking to Fortune in late 2018 about his intention to pbad Bitcoin to 401 (k) plans, NYSE President Jeff Sprecher said that bitcoin did not yet have a good market structure.
He said:
"Bitcoin does not have a good market structure. Even for Bitcoin, different markets display many different prices. And you can pay a spread of up to 6% to exchange dollars against Bitcoin, which means that bitcoin must increase by as much as 6% before reaching your break-even point. "
In the future, Sprecher said badet managers and financial institutions would use millennial currency trust to attract the younger generation, such as bitcoin.
"Millennia do not trust traditional financial institutions. To gain their trust, banks, brokerages and badet managers can use a currency that millennia believe, like Bitcoin. The use of digital currencies causes a lot of problems, "added Sprecher.
As suggested by Sprecher, if Fidelity, ICE's Bakkt and other depository service providers manage to create a strong market structure for bitcoin, more retired account holders and investors who previously hesitated to invest in bitcoin might find the badet clbad more attractive.
Source link
