Report: Gen Zs Have Strong Interest in Copy Trading
- Gen Zs prefer crypto investments over other forms of investment.
- The report states that users under the age of 25 account for the bulk of copy traders.
- Western Europeans are the biggest copy traders on Bitget.
As the crypto industry continues to grow, research has shown that Generation Z investors account for the bulk of the adoption. Crypto exchange Bitget recently released a report that showed that Gen Zs are particularly interested in copy trading, which involves mirroring the trading techniques of others. Bitget claims that Gen Z investors account for almost 50% of all copy traders. The report states that the older generation mostly uses copy trading for professional insight.
In addition, the Bitget copy trading report states that users below 25 years of age account for the bulk of copy traders (44%), while those between ages 25 and 35 make up 30% of the group. Older users between 35 and 55 account for 17% of copy traders, while people above 55 account for only 7%.
In terms of regions and locations, Bitget reports that almost a third of its copy traders are Western Europeans (31%), while East or Southeast Asia accounts for 26% and 19%, respectively. About 1% of Bitget’s copy traders reside in Africa. However, Africa is the region with the highest number of users interested in copy trading (62%).
While the younger generation is generally showing interest in emerging technologies, Bitget explains that their interest in copy trading could be traced to their habit of seeking finance and investment advice from social media influencers.
Generation Zoomers, or Gen Z, is a term used to classify people born between the late 1990s and early 2010s. Gen Zs also succeed the Millennials, which are people born between 1981 and 1996.
A Forbes survey noted that both generations Z and millennials have a strong interest in using social media for financial reasons. The report claimed that 80% of Gen Z and Millennials took financial advice from social media. In addition, 40% of both groups claimed to have relied on more credible social media platforms like Reddit, YouTube, and Tik Tok to make money.
Gen Zs are interested in Crypto
Interestingly, Gen Zs have shown serious interest in cryptocurrencies. According to a May report by the CFA Institute and the Financial Industry Regulatory Authority (FINRA) Foundation, Gen Z prefers to invest in cryptocurrencies rather than other asset classes.
In the U.S., about 44% of Gen Z investors said they started off with crypto investment, compared to 35% of Millenials, while 43% in the U.K. and 35% of Canadian Gen Z investors followed suit.
Lawrence has covered some exciting stories in his career as a journalist, he finds blockchain-related stories very intriguing. He believes Web3 will change the world and wants everyone to be a part of it.
