Who makes up Generation Z? The simplest definition is, Gen Z is everyone born after 1996. However, because we are discussing a whole new generation of people, there is a lot more to them than their age. We are looking at the most ethnically diverse, and culturally aware generation in human history. The idea of cross context in the references and processing of new information has become innate in this generation, which was not always the case with past generations. Much of this has to do with the advancements in technology, and how it is still constantly developing.
With the advances in technology, information is extremely easy to access today. People classified within Gen Z are digital natives. This means that technology is natural to them because they do not know what it is to be without it. Having grown up with the accessibility to all the information around the world with the ease of technology. However, ease and accessibility can be a double-edged sword. Because of how easy it is to get the information needed, the attitude towards education changes. This generation has a very low percentage of high-school and college graduates, showing the difference in how Gen Z values more traditional methods.
Because this generation looks at the general human experience differently, they look very differently at work and earning money. Gen Z is at a crossroads where there is a push for changing the older processes of hiring and working to something more attitude oriented, rather than experience oriented. However, the pandemic and lockdowns definitely impacted the working process as a whole. In particular, several Gen Z people were halted from joining the workforce. This forced them to look for different methods for earning money. These methods mainly include two things; small businesses and investing.
Putting together these two factors of the current human experience, investing has never been as easy as it is now. With several things to invest in, from stocks to cryptocurrency, the newer generations have always been spoilt for choice in this aspect. The way technology has evolved has also made investing far more simple than it used to be. Financial apps allow us to invest and keep track of our investments whenever we want to. For younger generations, this is more of a norm than a luxury. The availability of information and the accessibility of investing today makes investing a far more attractive idea than it used to be. There is less considered risk to trading for newer or novice traders. However, while the availability of information is definitely helpful, it can also be dangerous if not used properly. Losses and bad investments can happen if information is not filtered or deciphered properly. One can assume that in a multitude of sources, several will give false or possibly false information in where one should invest in, or trajectories of certain stock or cryptocurrencies.
In the already erratic nature of cryptocurrency, the continuous growth of information through social media and/or other news outlets, tend to affect every cryptocurrency. Leaving the trader to discern for themselves what news to believe. Adding to the fact that these factors affect prices, it makes the already erratic nature of cryptocurrency, almost unpredictable. If one semi-reliable social media outlet were to tweet about Bitcoin possibly dropping, that could affect the way it is sold and traded.
While all of this may sound like a negative thing for cryptocurrency, it depends on how you look at investing as a whole. With the pandemic and lockdowns, combined with the relatively negative view on what is considered the “normal” work structure, the high risk for high reward nature of cryptocurrency with the easy access does equate to higher rates of crypto trading.