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High-net-worth individuals embrace cryptocurrencies

13 June 2018Nigel Green, deVere Group
Nigel Green, CEO of the deVere Group.

Nigel Green, CEO of the deVere Group.

Cryptocurrencies are the “future of money” and wealthy investors seem to agree. This is according to Nigel Green, CEO of the deVere Group, an international financial services organisation.

The Group, which launched the deVere Crypto app earlier this year, asked high-net-worth individuals about their exposure to cryptocurrencies as part of a global survey.

The findings reveal that more than a third of wealthy individuals (35%) either have exposure to cryptocurrencies, or they intend investing by the end of 2018.

Green says the survey’s results demonstrate that high-net-worth individuals cannot ignore the huge potential of cryptocurrencies.

“Public awareness of the value, need, and demand for digital currencies is surging,” he adds.

“I expect that interest will grow exponentially in the next year with improvements in the technology that underpins it, as financial institutions embrace it, and as regulation is developed.”

More than 600 people living in South Africa, the United States, United Kingdom, Australia, the UAE, Qatar, Switzerland, Hong Kong, Spain, France, and Germany participated in the poll.

Green notes that users of the deVere crypto app want an ever-wider, diversified portfolio, as digital currencies move further into the mainstream.

In response, the Group has announced that users can now buy, sell, store, and exchange Bitcoin Cash (BCH) and EOS (EOS), alongside other well-known cryptocurrencies.

“All the digital coins available on deVere Crypto have different characteristics, strengths and values. The new additions help to achieve portfolio diversification, and their individual traits make them useful in different ways for investors,” Green concludes.

Quick Polls

QUESTION

Millennials make up 30% of the South African job market; these are your clients and future clients. Do you engage with them?

ANSWER

No, not my target audience
Yes, the same as all my other clients
Yes, via social media
Some engagement but by far the most difficult generation to engage with
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