🎓New Approach to Financial Education

While being so popular, cryptocurrency has a steep learning curve. Gen Z recognizes cryptocurrency as the last on their list of financial knowledge, with 40% of Gen Z crypto investors admitting that they do not really understand crypto. Their mass involvement in this market, despite knowledge gaps and widely known risks of crypto volatility, indicates that more emerging technology education is needed to meet people where they are.

While a lack of knowledge creates risks for crypto investors, it is also an essential barrier for those who have yet to enter the investment market. 44% of not investing Gen Z adults name the simple fact of not knowing where to start as the reason.

That being said, it is unlikely that these knowledge gaps will be filled by education as we used to understand it. The approach to the search for information and consuming it has changed too.

Today, Millennials spend 6.6 hours on their smartphones daily, with Gen Z following them closely with 6.5 hours per day. However, this time includes not only entertainment. The Internet is a go-to source for investing and financial education for younger generations. YouTube's and TikTok's significant shares make younger generations most video-forward when it comes to learning about personal finance.

Often viewed as an entertainment platform for teenagers, TikTok reports an exploding platform-wide growth of financial content. According to their What's Next Report (North America), videos with finance-related hashtags collected billions of views in 2021 (2B+ video views for #finance, 1.9B+ video views for #crypto, and 1B+ for #stocktok.) Hashtags #passiveincome and #blockchain became some of the fastest-growing hashtags. 52% of TikTok users in Europe say that they have discovered or been inspired to find out more about finance via TikTok, with 38% saying that they have purchased a financial product after seeing it on TikTok. Latin America does not fall behind: Whopping 81% of TikTok users in Colombia say they learned something new about cryptocurrencies on TikTok.