Crypto’s fastest growing investors? Baby Boomers – and scammers know it - video Dailymotion

Australian Community Media

Baby Boomers have become the fastest growing group of cryptocurrency investors in Australia, but experts say the cohort is particularly vulnerable to scams. This video includes ACM-produced voiceover powered by AI.

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00:00Baby Boomers are now the fastest growing group of Australians investing in cryptocurrency

00:04but experts say they should tread carefully in what remains a high risk and largely unregulated

00:10space.

00:12New research found the number of over 65s holding digital assets has quadrupled since

00:162019, rising from just 2% to 8.2%.

00:20While Millennials and Gen Z remain the largest groups, the boomer surge is being filled by

00:23recent retirees reassessing their investments.

00:32But the cautionary tales are growing too.

00:34Australians lost more than $170 million to crypto scams in 2023 and senior age groups

00:40are frequently targeted.

00:43Experts advise older Aussies to do their homework before jumping in, research well-known crypto

00:47platforms like Coinbase or Independent Reserve and look at secure crypto wallets such as

00:53Ledger or Trezor to help minimise risk while learning the ropes.

00:58ASIC has warned that crypto is still a high-risk investment with few protections.

Crypto’s fastest growing investors? Baby Boomers – and scammers know it

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