Indonesian Crypto Investors Dominated By Gen Z And Millennials, Here's Why!

CMO Tokocrypto Wan Iqbal (photo: dock. VOI)

JAKARTA - Still in the spirit of commemorating Youth Pledge Day, data from the Commodity Futures Trading Supervisory Agency (CoFTRA) states that more than 60 percent of crypto investors in Indonesia are in the age range of 18-30 years.

This trend is supported by data on the age of crypto investors in Indonesia until September 2024, showing 26.9 percent of investors aged 18-24 years and 35.1 percent aged 25-30 years.

The head of CoFTRA, Kasan, also emphasized that Generation Z and Millennials in Indonesia, which are increasingly dominating this crypto investment, show high enthusiasm for digital assets as an alternative to financial management.

According to CMO Tokocrypto Wan Iqbal, the reason the younger generation chooses crypto investment is because they grow up as digital 'original' residents who are very comfortable with technology, growing up with the internet and social media.

In addition, their distrust of traditional financial systems also encourages them to look for decentralized alternatives that provide greater control over their assets.

'The influence of social media and the online community is an important tool for the younger generation to predict crypto trends and movements. They use the online community to discuss and share information, so they can make investment decisions with more confidence," explained Iqbal.

Iqbal also said that economic factors also influenced their choices. Job market uncertainty and high cost of living make the younger generation look for new opportunities to build wealth and live more prosperous lives.

However, behind this enthusiasm, financial literacy of the younger generation still needs to be strengthened. The 2024 National Literacy and Financial Inclusion survey released by the Financial Services Authority (OJK) shows that the financial literacy rate of adolescents aged 15-17 years only reached 51.7 percent, far behind the adult age group.

In response to this, business actors in the crypto industry are committed and affirm the importance of strong financial education and literacy to support smart and sustainable investment for the younger generation.

"With this literacy strengthening, Generation Z and Millennials are expected to be able to achieve financial independence, in line with the spirit of the Youth Pledge to build a bright and independent future," he concluded.