Generation Z trusts crypto while saving money in 401(k) plans

Generation Z has a growing reliance, enthusiasm and trust in crypto, creating a massive divide in where different generations invest their money.

According to an OKX sponsored survey conducted earlier this year, 40 percent of Gen Z and 41 percent of millennials said they feel confident about crypto platforms.

On the flip side, only about 27 percent of Generation Xers and a slim 9 percent of baby boomers were crypto confident.

It’s a divide that is likely to only grow, as older generations generally stick with the banks they’ve been using.

Gen Z’s trust in crypto platforms is also evident based on the percentage of the generation’s digital portfolios and investment advisers.

Previous reporting by Forbes found that half of young wealthy investors have considered switching or have switched their financial advisers because they wouldn’t support crypto investment.

Looking at year-to-year comparisons, 36 percent of Gen Zers and 34 percent of millennials said their trust in cryptocurrency went up from 2025 to 2026. Only 16 percent of Gen Xers and 6 percent of baby boomers said their confidence increased.

Younger investors see the constant accessibility and easy-to-use tools as a better product than traditional banking. Older generations are worried about the security concerns associated with the easily accessible platforms, which is why trends show they stick with those companies.

Seventy-one percent of baby boomers said they believe that banks aren’t going anywhere and will continue to be a primary source in the financial systems, while more than half of Gen Zers said they will eventually be surpassed by crypto, Forbes stated.

The OKX sponsored survey was conducted in January with 1,000 participants.

Gen Z is years ahead on retirement investments

It doesn’t sound great for Gen Z.

We have the lowest savings-to-spending ratio of any generation, young adults are struggling in the job market and monthly expenses are rising faster than wages.

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© The Hill