Teens and crypto: Kids aged 13 to 17 with money to invest would spend differently to their parents. So where is crypto in this mix?
According to a new survey undertaken by Engine Insights, only 27% of teens think that national governments (such as the U.S., EU, and China) have the most influence on the global economy. 20% of teens think the “mega-rich” (20%) have the most influence, and 19% think large corporations have the most influence.
Teens don’t think that “average people” (7%) or small business (4%) have much influence. And, only 3% of teens think that creators of cryptocurrencies and NFTs have real influence.
The survey of 13-to-17-year-olds was conducted earlier in April.
Teens and investing
Teens are totally open to cryptocurrency, however. If they had the money to invest, their first choice would be stocks (39%). But coming in second is cryptocurrencies (29%), along with real estate, also at (29%).
Despite this enthusiasm, more than half of teens (51%) admitted that they don’t understand crypto as much as they would like to.
Young people and learning about crypto
So where do teenagers get their information about investing? 51% said online videos were a go-to source for them. Then extended family (32%) and investment company websites (32%). Parents were a source of information for 30%. And then social media influencers came in at 26%. 21% learned about investments from a teacher or in school.
Jack E. Kosakowski is the President of Junior Achievement USA, who commissioned the study. “There’s a perception among teens that how the global economy works and who has influence is changing. They appear to be interested about the prospect of having influence themselves, but don’t really understand how to get there.”
Junior Achievement is the world’s largest organization dedicated to giving youth tools to own their economic success, make smart economic choices and plan for their future.