Younger Americans are increasingly confident in cryptocurrency, while Baby Boomers continue to favor traditional banks, according to a new OKX Insights survey. The findings highlight a clear generational divide that could shape the future of crypto adoption—especially as trillions of dollars in wealth prepare to change hands over the coming decades.
The survey, conducted in January among 1,000 Americans, shows that trust in crypto platforms rises sharply with younger age groups. Gen Z and Millennials are not only more open to digital assets today but also more likely to see crypto as a core part of tomorrow’s financial system.
Younger Generations Trust Crypto, Boomers Trust Banks
When asked to rate their trust in crypto platforms on a scale of 1 to 10, 40% of Gen Z (ages 12–29) and 41% of Millennials (ages 29–45) gave high confidence scores of seven or above. Among Baby Boomers, only 9% expressed the same level of trust, underscoring how wide the generational gap has become.
Boomers, by contrast, show strong loyalty to traditional finance. Nearly three-quarters (74%) gave banks high trust scores. Younger respondents were far more skeptical of banks overall, with about one in five Gen Z and Millennials assigning them low trust ratings. This suggests that younger Americans are not simply pro-crypto, but more questioning of centralized financial institutions in general.
Trust in crypto is also growing faster among younger cohorts. Compared with January 2025, more than one-third of Gen Z (36%) and Millennials (34%) reported increased confidence in crypto platforms. Among Boomers, attitudes have largely stayed the same, with nearly half saying their views were unchanged and only 6% reporting higher trust.
These attitudes are reflected in behavior. Looking toward 2026, 40% of Gen Z and 36% of Millennials say they plan to increase their crypto trading activity, compared with just 11% of Boomers. That nearly fourfold difference points to where future market momentum may come from.
According to an OKX spokesperson, the divide comes down to how generations define trust. Boomers tend to associate trust with regulation, institutional backing, and oversight, while Gen Z and younger Millennials prioritize transparency, verification, and direct control over their assets. Clearer regulations and stronger consumer protections, the spokesperson noted, could help ease older generations’ concerns, particularly around custody and market integrity.
Wealth Transfer Could Accelerate Crypto Adoption
This generational split may help explain why many industry leaders see crypto adoption as a matter of timing rather than acceptance. As wealth shifts from older, more crypto-skeptical generations to younger ones, capital allocation priorities are likely to change.
Zac Prince, head of Galaxy Digital’s banking venture Galaxy One, recently argued that crypto’s next major growth phase could be driven by intergenerational wealth transfer. As Boomers pass on assets, younger heirs—who are already more comfortable with digital assets—may choose to allocate a portion of that wealth to crypto.
The numbers involved are significant. UBS estimates that Americans hold around $163 trillion in total wealth, with Baby Boomers controlling more than half, or roughly $83.3 trillion. Even a small percentage of that capital flowing into crypto markets could have a substantial impact on adoption, liquidity, and long-term growth.
