An increasing number of Kiwis are seeking out new ways of investing their money, according to new research by the Financial Services Council.
It shows 21 per cent or roughly one in five Kiwis have invested in cryptocurrencies like Bitcoin.
That’s a seven per cent increase since the start of last year.
“It is quite thrilling, because it's an insanely active space where things are happening very rapidly,” crypto investor Albert told 1 NEWS.
The research finds the rise of the digital investor is greatest among Generation Y, which includes those under 40.
And young men are most willing to take some risks.
“Financial freedom is the dream right and why are young men doing it, because we want financial freedom and we are high risk, high reward kind of people, young women should be doing it,” Sam said.
Low interest rates and the over-inflated housing market seen as the driving factors causing people to seek other means of investment.
The research shows around 1.5 million Kiwis have invested in the stockmarket using apps and/or invested in cryptocurrencies.
But there are some big risks the report shows many are worried about cyber security.
“People need to understand the risk, they need to know what their appetite is, they need to know they can lose a whole lot of their investment,” Financial Services Council Richard Kiplin said.
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