Jul 2, 2020

Millennials are driving the Bitcoin economy

Tap Global
Arsen Torosian, CEO, Tap Globa...
4 min
The Millennial generation is expected to lead humanity into an era of fintech as they drive Bitcoin adoption through the coming decade...

The Millennial generation is expected to lead humanity into an era of fintech as they drive Bitcoin adoption through the coming decade.

Research has found that cryptocurrencies are three1 times more popular, as a long-term investment vehicle, among millennials as compared to any other generation.

A survey conducted in the United Kingdom of affluent millennials discovered that 20% have invested in cryptocurrencies. The survey revealed that among the people born between 1981 and 1996, 20% had invested in the crypto space provided they had investable assets of £25,000 or more. This is significantly greater than the national average of 3%. Moreover, it is higher than 29% for millennials with over £75,000 in investable assets.

Millennials are Killing Traditional Industries

Some of the key reasons why millennials are switching towards cryptocurrencies like Bitcoin, to serve as an investment vehicle are:

  1. High Returns of Bitcoin:
    In the past, Bitcoin has consistently earned higher returns as compared to stocks, except in 2018. Even if a person bought Bitcoins at its all-time high and held it for life, her portfolio would be positive.

Over the last ten years FTSE 100 (index that represents the top 100 companies on the London Stock Exchange - LSE) gave a 7.38% annualised return. This is even though annual returns range from -8.73% to +19.07%. During the same period, Bitcoin investors have lost money only on 11% of the days, while profiting the rest of 89%.

Following are the annual returns of Bitcoin from 2011 to 2018:

2011: +1,473%

2012: +186%

2013: +5,507%

2014: -58%

2015: +35%

2016: +125%

2017: +1,331%

2018: -72%

2. Retirement portfolio item

Bitcoin is highly volatile, which can be corroborated by its 30-day gains and losses exceeding 100% on multiple occasions. However, millennials are still comfortable considering it as a retirement plan, because of two main reasons.

Firstly, millennials are a long way off from retirement so they can afford to take some risks. Secondly, they have lived through the housing crisis which was the result of bankers and brokers playing fast and loose with traditionally “safe” investments like stocks and houses. Bitcoin’s volatility and risk is not a big concern.

A study suggested that a 5% allocation of Bitcoin in a traditional portfolio comprising of 40% bonds and 60% stocks could more than double the portfolio returns over a four-year horizon.

3. Digital World

Millennials grew up with the evolution of the internet and have been moulded by it. They prefer paying by digital wallets and online banking, so Bitcoin, being the currency of the digital world, seems far more natural to a millennial.

Understanding Demography

An online poll conducted in 2019 found that people within 18 to 34 years of age were three times more likely to have familiarity with Bitcoin as compared to those over 65 and twice as likely as those between 50 to 64 years old. Thus, millennials outnumbered all age groups when it came to familiarity.

Moreover, 59% of millennials had a positive opinion about Bitcoin. This was twice as enthusiastic as the people aged 35 to 44 and thrice the number as in the case of people above 60yrs.

These findings are in-line with Everett Rogers’ diffusion of innovations theory which depicts that innovators and early adopters of new technology are usually urban, educated and young.

Tap Global is tapping the Millennial Market

Considering that millennials are some of the largest players in the crypto space, it is essential to understand that these retail investors of today could be institutions of tomorrow.

Given the growing interest of millennials in cryptocurrency investing, new tools and platforms are required to facilitate the digital requirements of young investors.

Tap Global provides an entire crypto marketplace at your fingertips with its crypto banking app. Moreover, it provides advanced tools like real-time trading, the ability to view your holdings at a glance, seamless banking experience and the power to spend crypto with a tap.

Arsen Torosian, CEO of Tap Global, commented: “millennial investors are very eager to invest in cryptocurrency assets. Tap Global has already grown significantly since it’s public unveiling earlier this year and we are currently expanding in the UK and EU. Moreover, a survey conducted by Tap Global showed a majority of our user base consisting of individuals between the ages of 18yrs to 29yrs.”


Given the above factors, the growing millennial preference for cryptocurrency trading is less surprising than it would seem. The members of this generation distrust the stock market and prefer app-based digital investment alternatives like cryptocurrencies as it fits those preferences.

Moving forward, it's expected that an even greater proportion of millennials would favour crypto investments.

This article was contributed by Arsen Torosian, CEO, Tap Global 

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Jul 28, 2021

Nymbus enters strategic partnership with Plaid

2 min
Nymbus has partnered with Plaid to help meet customer demand for connecting to digital finance apps

Nymbus, a leading provider of banking technology solutions, has partnered with Plaid, a data network powering the digital financial ecosystem, to more instantly authenticate and fund customer bank accounts for financial institutions. 

This new integration will allow Nymbus bank and credit union clients to securely onboard new users in a matter of seconds, which in turn translates to more active and engaged banking experiences. Plaid’s data network enables consumers to connect their financial accounts at over 11,000 institutions globally to more than 5,000 digital finance apps, including leading payments, investing, and budgeting tools.


What are the benefits of the integration?


Benefits of the Nymbus and Plaid integration for financial institution customers include:

  • Improve user identity verification and reduce fraud.
  • Instantly authenticate and link members’ bank accounts.
  • Streamline ACH transfers between any bank or credit union in the US.
  • Access and analyse comprehensive transaction data.
  • Validate real-time account balances to protect against overdraft and enable account pre-funding.

“As more consumers than ever before rely on digital finances for their everyday lives, financial institutions need to meet their customers where they are while supporting safe and reliable money management experiences,” said Sarah Howell, Chief Alliance Officer at Nymbus. “Our expanding network of partners are important contributors to Nymbus’ combined portfolio of the technology, people and process available to quickly innovate with new routes to market and revenue streams.”


Continuous growth and expanding partnerships


Founded in 2015, Nymbus has continued to grow. Most recently the company has closed a new round of financing led by the Curql Fund. The US$5 million investment will be used towards Nymbus CUSO and accelerate a shared commitment to breakthrough technology for ensuring continued growth and stability for the credit union community.

Nymbus CUSO was founded in March 2021 to help break through barriers to growth, and its mission is to connect credit unions with trusted fintech offerings that both simplify technology delivery and enable new digital revenue opportunities.

Last year Plaid set a goal to move 75% of its traffic to APIs by the close of 2021, calling it “one of our top priorities as the industry moves full-steam ahead toward a fully digital financial system.”

Recently it has announced an open finance partnership with Capital One, a digital finance innovator, and the successful completion of its migration to the Capital One API. They have also completed or have in-motion data access agreements with major US financial institutions, including U.S. Bank, JPMorgan Chase, Wells Fargo, and others.

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