Younger Americans Prefer Crypto Over Traditional Banks

A recent survey reveals a significant divide in financial preferences between younger and older Americans. The findings indicate that younger individuals, particularly Gen Z and Millennials, are increasingly trusting and investing in cryptocurrency. In contrast, older generations, especially Baby Boomers, remain loyal to traditional banks.

Survey Findings: Trust in Financial Platforms

The survey, which gathered responses from 1,000 Americans in January, showed:

• 40% of Gen Z and 41% of Millennials have high confidence in crypto platforms.
• Only 9% of Baby Boomers feel the same way.
• 74% of Boomers trust traditional banks, while younger generations are more skeptical, with about one in five expressing low trust in banks.

Growing Confidence in Crypto Among Younger Generations

Compared to January 2025:

• 36% of Gen Z and 34% of Millennials reported increased trust in crypto platforms.
• Boomers showed little change, with nearly half stating their views had not shifted and only 6% reporting greater confidence.

2026 Trading Plans: A Generational Split

Looking ahead to 2026:

• 40% of Gen Z and 36% of Millennials plan to increase their crypto activity this year.
• Only 11% of Boomers share this sentiment, highlighting a nearly fourfold difference in optimism toward crypto.

Different Definitions of Trust

The trust gap between generations is rooted in different definitions of trust:

• Boomers associate financial trust with institutional approval and regulatory oversight.
• Younger generations value verification, transparency, and direct control.
• Regulation is more important to Boomers because their trust model is tied to oversight and institutional legitimacy.
• Clearer rules and improved regulatory frameworks could help reduce hesitation, especially around consumer protection, custody standards, and market integrity.

The Future of Crypto Adoption

The generational split in financial preferences may explain why some industry executives view crypto’s long-term adoption as a question of timing. As older, more crypto-averse generations pass on assets, younger heirs are likely to allocate capital to crypto.

• UBS estimates that Americans hold $163 trillion in total wealth, with Boomers controlling more than half, or $83.3 trillion.
• Once this capital begins moving to younger generations, even a modest reallocation toward crypto could have a significant impact on adoption.