Gen Z Looks for Guidance on How to Make Smarter Financial Decisions
Zumo teams up with Gen Z creator Poku Banks on educational content series and giveaway of cryptocurrency Ether – doubling down on their ambition of giving everyone, everywhere control of their finances – especially the next generation.
With young people representing an ever-growing consumer base within crypto (18-34 y/o represented the fastest-growing segment of adults during lockdown*), cryptocurrency wallet Zumo has partnered with Gen Z content creator, TikToker, and Instagrammer Poku Banks to spread the word about crypto amongst a new generation of financially savvy individuals.
Recent years have not only seen TikTok explode amongst Gen Z, with 70% of its users being under the age of 24, but also the rise of cryptocurrency as an investment amongst younger generations. During the pandemic, 16 percent of Britons aged between 18 and 24 began investing for the first time, compared with 10 percent across all age groups, a survey by Halifax found.
Gen Z investors were nearly five times as likely to say they get financial advice from social media as adults aged 41 and over, with 28 percent turning to friends and online influencers for guidance, according to a March survey by CreditCards.com, a financial services adviser.
Talking to the app’s ease of use and simplicity, Poku has created a series of assets that speak to the safety and security of Zumo, looking at why now is the best time possible to start engaging with new methods of saving.
Talking about the partnership, Amelie Arras, Marketing Director at Zumo said: “Poku is exactly the type of person who gives a voice to young people who are engaged and interested in finance.”
Social media creator, Poku Banks, 20, says: “With the rise of cryptocurrencies such as Ether recently reaching all-time highs, increasing numbers of young social media users are getting in on the craze in the hopes of making market-beating returns. But with increased returns come increased risk, and so education – particularly among the younger generation – is key. The cryptocurrency space is much in need of regulation, and it is common to see manipulation in the markets like socially engineered ‘pump and dumps’, promoting quick gains and numerous losses. Also, remember that social media content should only be used as guidance and not advice. Everyone should do their own research on investments Zumo helps to make cryptocurrency easy for new investors.”
Alongside the content, Poku will be helping Zumo to spread the word about their new prize draw whereby 2 lucky entrants have the chance to win 0.2 ETH (valued at £413 ) at the time of going to print. In order to enter you must visit one of Zumo’s social profiles and follow and tag a friend in the competition post on either TikTok, Instagram, Facebook or Twitter – as well as download and register with the Zumo app.