Risk Perception and Adoption of Cryptocurrencies Among Millennials and Gen Z

Cryptocurrencies have caused a disruption in financial innovation, offering an alternative to traditional currencies and investment avenues. This study explores the risk perception and adoption of cryptocurrencies by Millennials and Gen Z who are the most familiar with the digital age and lived through it. Through a survey based quantitative approach the research examines the awareness regarding crypto, concerns and motivations of theses generations in engaging in the crypto market. Findings suggest that Gen Z exhibits a strong willingness to try new investment avenues however they are primarily influenced by social media and peer influence along with having limited disposable income. On the other hand, millennials have a higher income but also show more cautiousness when it comes to investing in the crypto market due to their better understanding of how crypto works and the associated risks with it. This study focuses on identifying the investment behaviours of these generations and tries to understand their reasons for engaging or not engaging with crypto in order to provide a better understanding on how crypto stands as an investment potential and an alternative to traditional currencies.