Kiwi crypto exchange reports surging demand from baby boomers

Baby Boomers are driving demand for cryptocurrencies according to New Zeland-based Easy Crypto.

A new crypto exchange operating in New Zealand has revealed its success is being driven by clients from unexpected demographics.

‘Easy Crypto’ claims to have just hit NZ$10m in turnover since launching its retail cryptocurrency platform 16 months ago.

The exchange was founded by brother and sister, Alan and Janine Grainger.

“Sales for April were more than five times higher than the previous year, and volumes have doubled in just the last two months,” says Ms Grainger.

She claims the exchange is currently turning over around NZ$2m a month.

baby boomers bitcoin
Easy Crypto Founders, Alan and Janine Grainger (Pic: Medium).

Baby boomers’ Bitcoin fascination

While the founders of Easy Crypto envisaged early year-on-year increases in turnover, they’ve seen growth being driven by clients from unexpected demographics.

During April this year, 20% of the exchange’s new users were in the ’55 and older’ demographic.

Ms Grainger believes the majority of baby boomers using the platform are diversifying retirement savings.

“I’ve had some fascinating conversations with people in their 60s, 70s even into their 80s who are diversifying their assets into cryptocurrency.

“They’re very well educated about it and see it as a smart move to take a portion of what they’ve saved and put it into this.”

Interestingly, Easy Crypto’s top spending customers are women in their 50’s according to Ms Grainger.

Overall, millennial males are still the exchange’s biggest cohort of clients.

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