73% is not nothing. And 73% of under-25s are now saving money, according to an exclusive OpinionWay survey for 20 minutes, made with our MoiJeune* community. And investing for the future does not just mean putting money in a savings account: 14% of young people say they own or want to buy cryptocurrencies, also called cryptoassets. So even if the latter mainly turn to the booklet A (82%), the young booklet (40%) or the PEL (29%), cryptocurrencies appear, according to them.
And so according to Andréa, 19 years old. The business school student in Bordeaux spends his free time investing in around thirty cryptocurrencies. Passionate about finance, the stock market and especially “cryptos” for ten years, Andréa handles large sums: “I invest nearly an eighth of my savings in it, which represents on all of my cryptoassets several thousand euros. »
It was first of all the technique, the science that pushed Andréa to bet on Bitcoin or Ethereum. Nevertheless, the “cryptos” are today, according to the young man contacted by 20 minutes, a way to invest for the long term but also to have a cushion in the event of a crisis. And in the midst of pension reform, while the horizon is darkening for the youngest, 65% of those who responded to our survey also provide savings to anticipate difficult situations. At a time when the executive is defending its pension reform, 22% of savers surveyed say they are putting aside in anticipation of their retirement. 51% of them mostly confident that they are worried about working until they are 64 or older.
Asked by 20 minutes, Claire Castanet, Director of AMF (Financial Markets Authority) relations with savers, points out that people under 35 are more likely to put aside than other generations: “In 2022, the French put an average of 244 euros aside monthly. This figure has increased slightly over the past few years. “To reach today 264 euros per month among those under 35, therefore.
Money (not) easy and “finfluencers”
And if, still according to Claire Castanet, the sums invested in cryptos are “generally much less than those placed in so-called traditional investment”, more and more young people are being seduced by Bitcoin and its friends. Why ? Because the mirage of easy money. “Winning a lot without too much effort, in a few clicks, does not work “says Claire Castanet. “I cringe hearing those who say it’s easy to make money from cryptoassets,” exasperated Andréa.
“Today, young people are very interested in economic and financial issues, but making savings grow through cryptos is still very risky,” says Anne-Claire Bennevault, founder of the financial education platform Spak. . New crypto worshipers often get information on social networks where false information is commonplace. “What do we find on the networks? Few serious players, with verified content, and many ”influencers” [influenceurs de la finance] “, decides the founder of Spak while 70% of those polled by OpinionWay declare themselves to be “poorly or moderately informed” about cryptocurrencies. “And with leverage, you can lose more than you put in. On the European market, you can lose up to twice the amount wagered, for example. But outside the European Union, it can go up to 400 times,” adds Claire Castanet.
A breeding ground for scams
“There is real awareness work to be done on the issue of financial education,” says Anne-Claire Bennevault. According to a study conducted by the Spak platform, 38% of under 35s who seek information from influencers have already been scammed. Last week, the AVI collective also filed a complaint for “organized gang scam” against influencers Marc and Nadé Balta, who promised mountains and wonders via NFT and trading platforms. ” We have had periods of crypto-asset craze that have been conducive to scams, due to scammers who ride the hype. In 2022, fraudulent offers on cryptoassets were the first source of financial scams in France, according to testimonials from savers to the AMF », says Claire Castanet again. And to add: “cryptoassets are risky products, unregulated, without legal tender, without price monitoring, unlike stock transactions for example. »
Betting on cryptoassets to predict your future is a solution, it remains to acquire a solid financial culture. The important thing is also to diversify your investments, not to bet everything on a single product. “Real estate is still a very good solution to invest your money. Life insurance and savings books too, ”explains Anne-Claire Bennevault. Note that according to the OpinionWay survey with 20 minutes, 37% of the young people questioned are turning or plan to turn to shares on the stock market. “However, investing in the stock market remains just as complicated without knowledge. It is better to be accompanied by your financial adviser and not to improvise, ”warns the founder of Spak. Before embarking on crypto-assets, “it is better to take a step back”, concludes Claire Castanet, who once again calls for caution: “Before investing in risky products, you must always keep enough to pay your rent and your loads. »