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[Yusra31]

According to a new study by market research firm Opinium, young British investors are taking big financial risks to get their hands on Bitcoin (BTC) and Dogecoin (DOGE).
Between June 21st and June 25th, Opinium polled 1,000 UK citizens aged 18 to 29.The survey's findings suggest that Bitcoin is the most popular cryptocurrency, with 20% of respondents claiming to have purchased the king coin at some point.

However, according to the report, young British investors are taking on more risks in order to purchase BTC. Half of those who invested in Bitcoin said they used debt to fund their purchases, with 23 percent using a credit card, 17 percent using student loans, and 16 percent relying on another sort of loan.

 

[Horia_10]

That can't be done because if it is done like that it creates unnecessary pressure In a country due to economic policy turmoil , would you do that to your country just to allow Crypto the favor ? Not anyone will do it because a country for any citizen comes first so they take decisions according to their policies and bitcoin always reacts to news and falls down that's yhr truth .

 

[Ben Kempton]

I think it's the high interest they have towards crypto currency that is making them invest in it more ,they believe that crypto currency would grow more ,so they are actually really ready to invest so much money in it and I think that's why you see them risking much in it tho

Well, I would say that it is never a great idea to use loans or credit cards in order to purchase such kind of volatile assets! In fact, taking loans to purchase fixed asset isn also not a great decision if you ask me because the heavy interest rates will make it really hard for you to pay the loans back. Considering the fact that the cryptocurrency market has crashed now, I reckon that majority of these adolescent investors might be in a big debt now!

 

[achawaskey]

The young once has been always enthusiastic with technology, and cryptocurrency coming out at this time means youths will be more involved in it. Many young once want to independent from there parents, and bitcoin investment doesn't require much paper work, this is the reason why students are are also investing. But my advice to them is they should be more careful in online investment to avoid been scammed.

 

[Horia_10]

I am always okay with Investing in a fund that is reliable and gives 10% per year than in a find which promises to give 100% per year and pays nothing , the reliability is important and low interest means you have to pay less and you can afford such small risk , but if you are talking such risks for a market like Crypto which can fall anytime then you still taking risk for a volatile asset with no guarantee of profit so that's a double hit and you should take loan only when you can pay it back with sureity and never take it for investing in Crypto markets .

 

[Wisdom01]

Well, I would say that it is never a great idea to use loans or credit cards in order to purchase such kind of volatile assets! In fact, taking loans to purchase fixed asset isn also not a great decision if you ask me because the heavy interest rates will make it really hard for you to pay the loans back. Considering the fact that the cryptocurrency market has crashed now, I reckon that majority of these adolescent investors might be in a big debt now!

if they actually use small amount of money to make purchases ,I feel they would actually not too face the devaluation ,most people that are paying with their credit card are even holding for long ,so they are not bothered about the current movement in price of Bitcoin

 

[Horia_10]

Not at all advised , at the moment the interest rates in my country is 15.5% and the government is a joke they have the eye to make it 50% they have all money invested in foreign banks , If interest grows , their money grows , So if things like cement grow 1000% in a year and labour costs 2000% would you to be able to survive with 20% increase in salary per year , you won't and taking loan with such people in power is like giving your control to a Satan by will , so not advised at this time especially , patience is key .

 

[BusyCat]

Risking with student loan isn't a good idea , there will be a pressure created if bitcoin they invested doesn't give them good results in trading. As a student, it is better to focus on academics and stuffs , along with that , students can study about cryptocurrency technology and try to earn free coins instead of risking real money. Once they are placed in a company after their studies , they can start investing big in cryptocurrencies from the salary they get.

 

[Horia_10]

The UK government is actually doing good at the moment because the student loan rates were to increase expected to 7.5% but they have not increased that rate and have allowed the students to repay at the same rates and this has provided many graduates with the peace of mind according to reports .

 

[Jack / 47 F1]

According to a new study by market research firm Opinium, young British investors are taking big financial risks to get their hands on Bitcoin (BTC) and Dogecoin (DOGE).
Between June 21st and June 25th, Opinium polled 1,000 UK citizens aged 18 to 29.The survey's findings suggest that Bitcoin is the most popular cryptocurrency, with 20% of respondents claiming to have purchased the king coin at some point.

However, according to the report, young British investors are taking on more risks in order to purchase BTC. Half of those who invested in Bitcoin said they used debt to fund their purchases, with 23 percent using a credit card, 17 percent using student loans, and 16 percent relying on another sort of loan.

what you have to ask yourself or question the survey. how reliable is the survey ?¿?¿ is it a reputable survey company ?¿?¿ and so on. i dont trust a lot of the stuff they so called experts regurgitate about btc & cryptos in general.

people in general are using debt to buy a lot of things, not just cryptos. people are also using debt to gamble, buy drugs, going out & partying, paying for prostitutes, buying cars & a bunch of other things. buying btc with debt just might pay off the original debt, if keeps on going up. if it goes down, they lose.

 

[fiery phoenix]

Like the dot com bubble this must not be a surprise that the young generation is buying crypto.The US is where it is because of the baby boomers who were actually around these ages and because of their experiments the US is where it is today.After all investing young is the best but taking into consideration not to buy at premium levels but discount

 

[Horia_10]

They are definitely buying but if they are constantly facing reductions in their assets do you think its a wise deal I certainly do think not wise , because the market is targeting huge drop and I am following world news I can say fairly 2&3 powerful countries are ready to create another world war so things are not straight now save USD only ATM .

 

[Balint098]

I just hope those investors understand very well what they are buying and have already done their research before investing. Due to its low barrier of entry, a lot of crypto investors can be considered soft target for scammer/hacker. A lot of them don't even understand the basics of economy.

 

[Vladv26]

This is both a good and a bad thing. It's a good thing that young people are starting to see the potential of cryptocurrency market and start investing their money into it but it's a very bad thing to invest using money that you do not own. Buying cryptocurrency with credit card or money you got from a loan is a bad thing because as with every investment, cryptocurrencies are not 100% guaranteed to make you a profit in the future. And even if they do, you'll have to pay extra commissions and fees for the money you have borrowed so in the end you might end up actually losing money.

 

[Horia_10]

It is indeed ; very bad and not recommended at all people who had the luxury of having such schemes have actually made great from their schemes and usabilities but in the end they are drown due to the market and now have to pay 50% extra on the taxes as well as cover for the loss incurred from the markets .

 

[Balint098]

I's their choice. The government should not intervene on how people use their money, regardless of age. Only authoritarian governments do that. As long as those investors know the risk and research the coins accordingly, they should be allowed to invest in whatever asset they want.