Interest in cryptocurrencies and Bitcoin has been increasing across all age groups since 2017. The only group where it remained flat was among those 65 or older from 2019 to 2020. The year-to-year breakdown by age group can be seen in the chart via statista.com.
It’s probably not a surprise that the highest interest and uptake is occurring among individuals ages 18-34, which tend to be more tech-savvy and receptive to the benefits of Bitcoin and alt-coins (a.k.a. every other coin that’s not Bitcoin). For mass adoption of cryptocurrencies to occur, it has to gain and sustain traction among younger users. That’s the primary demographic that newly launched crypto-exchange hi.com is going after, so says its co-founder, Sean Rach.
In his exclusive interview with DailyCoin, he explains:
Our approach is with 3.8 billion smartphones out there, every one of those has a chat messenger on it, so let’s reach people where they already are. There’s no app to download to get started, so they can get on board right away. Then they have access to financial services that they’ve never had before and so for us the user experience becomes a critical part of what we’re doing and making it as simple,
Using chat messenger on smartphones for onboarding users is consistent with their strategy to target the younger, ages 18-29, where 95% own smart devices.
hi.com is a non-profit organization focused on building financial literacy among its members. The platform offers different membership levels and benefits based on the number of native tokens – dubbed hi dollars – users acquire.
Once you’re a member, benefits include feeless banking, high-interest staking, and 100 currencies to buy, sell, or exchange, and more.
Other benefits we will be announcing relatively shortly are lifestyle benefits and then also some travel benefits. You know that the pandemic killed a lot of that, but we think that some of the travel benefits that we’ve not had a chance to use lately will be something that people – especially younger ones – will really enjoy. If you look at our whitepaper we did provide a roadmap, and as we go towards the later phases we are very keen on the blockchain and we are keen on decentralization
On The Flipside
- The younger demographic might be considered to be the one that is always easier to engage, as younger minds tend to be more open to change and adapt more easily.
- The question of how to engage the 35+ ones still remains important, though, as this demographic has more accumulated capital.
Watch the full interview here: