Edinburgh, 20 December 2021 – Scottish crypto startup, Zumo, today announced the results of an Omnibus consumer survey revealing that cryptocurrencies like Bitcoin are a highly popular last minute Christmas gift idea among young people. Nearly three quarters (71%) of 18-34yr olds said they would be happy to receive crypto as a last-minute Christmas gift. This figure was even higher among men, with 85% of men under 34 wanting crypto for Christmas.
Other key findings from the research include:
- Of young respondents who said they wanted crypto for Christmas, 35% said they already owned crypto and wanted more, 39% said they always wanted to get into crypto but didn’t know how, and a quarter (26%) said it was an interesting, fun or different xmas gift.
- Only 16% of people would know how to buy someone crypto as an xmas gift, and this number drops to 7% among people aged 45+
- Londoners are twice as likely to want crypto as a Christmas gift, and 42% of Londoners say they know how to buy crypto as a gift, making it the most crypto savvy part of the country
- Among all age groups, 40% of men said they wanted to receive crypto for Christmas, compared to only 25% of women. This may support the public perception that crypto is too much of a boy’s club, with crypto still mostly bought, discussed and used by men
- Meanwhile, 25% of men say they know how to buy crypto as a Christmas gift, compared to only 8% of women, suggesting that they feel a lot more confident with the process of buying tokens
- Crypto still isn’t completely mainstream yet – the most popular last minute Christmas gift that respondents wanted to receive was a gift card
Crypto’s popularity with young people is supported by Zumo’s soaring millennial/gen Z user numbers – it estimates that 50% of its 60,000 users are under 30. Indeed, Zumo’s CEO, Nick Jones, believes that these generations have been failed by traditional banking, hence their willingness to adopt alternative finance.
“There is a clear generational divide between people who want a crypto Christmas, and those that say bah humbug,” said Zumo CEO, Nick Jones. “Two entire generations have been failed by traditional banking, and they are comparatively poorer than any previous generation. No wonder they look at the risk and rewards offered by digital currencies and are more willing to take their chance. Zumo is focused on making a crypto product that works for these generations left behind by banks, which is why we recently launched a pilot programme to provide a greener alternative to buy bitcoin compensated through clean energy. It’s an issue we care about a lot and know is especially important to younger Zumo users.
“It’s a great shame that most people don’t know the first thing about how to buy someone crypto as a Christmas gift. The good news is that it’s never been easier for people to buy, sell and spend crypto in the real world. Christmas is a great time for people who want to step into crypto but don’t know how.”
