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Different Generations Prefer Litecoin, Ripple, Ethereum and Bitcoin as an Investment

by Daily Hodl Staff
March 30, 2018
in Altcoins

If someone handed you a big wad of tax-free cash, would you buy more crypto? A new study reveals how many people would jump into the cryptocurrency market, which coins they would buy and how age impacts the decision.

LendEDU asked 1,000 random people how they would invest a hypothetical tax-free $10,000 in 2018. Their choices included an array of possibilities: real estate, the stock market, high-yielding savings account or CDs, peer-to-peer loans, 401(k) or Roth IRA, personal education, a child’s education, paying down debt on loans, small business development, or none of the above.

A total of 5.1% chose cryptocurrency, edging out 3.2% of respondents who answered “Invest in my education.”

Topping the list of options was “Pay down debt” with 27.3% of respondents selecting it as their preference, followed by “real estate” with 13.5%.

Virtual Currencies

Source: LendEDU

Of the 5.1% respondents who preferred to invest in cryptocurrency, Bitcoin, despite its recent bear run and extreme volatility, was the top selection, with Ethereum second, Litecoin third and Ripple fourth.

Responses reveal that preferences change according to age. Ripple, for example, with a lasting perception as “the banker’s coin” as opposed to the people’s coin, is a desirable investment for only one generation: baby boomers (55+).

  • 66.67% of respondents answered “Bitcoin” (76% Millennials, 60% Generation Xers, 54.55% Baby Boomers)
  • 15.69% of respondents answered “Ethereum” (12% Millennials, 20% Generation Xerx, 18.18% Baby Boomers)
  • 9.8% of respondents answered “Litecoin” (12% Millennials, 6.67% Generation Xers, 9.09% Baby Boomers)
  • 1.96% of respondents answered “Ripple” (0% Millennials, 0% Generation Xers, 9.09% Baby Boomers)
  • 5.88% of respondents answered “Other” (0% Millennials, 13.33% Generation Xers, 9.09% Baby Boomers)

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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