J J Kinahan said, cryptocurrency trading will be the best opportunity for next generation

Nishanth Shetty

Nishanth Shetty

January 9, 2018 12:15 pm

J Kinahan said, cryptocurrency trading will be the best opportunity for next generation | Coindelite News
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TD Ameritrade chief market strategist JJ Kinahan told CNBC on Monday that, The cryptocurrency market may be just what is needed to attract millennials into trading.

Digital currencies had huge gains over the past year.

Kinahan said:

“People complain that we haven’t gotten millennials to trade. Maybe this isn’t the product I’d like people to start with, but this is the greatest opportunity we’ve had in the market to get people who weren’t traditionally interested in the market.”

Last year, bitcoin which is known as the biggest cryptocurrency by market cap through more than 1,500 percent. Ripple also started growing constantly and became the second largest cryptocurrency n the world.

The company is one of the top three retail brokerages, according to capital markets research and consulting firm Tabb.

In December 2017, TD Ameritrade announced it was offering clients access to Cboe’s bitcoin futures, which began trading in December.

Kinahan said the firm casually likes to advise clients to use 10 percent of their money to consider, but what millennials are saying is they want to use 90 percent to consider.

Kinhan included:

“Do I agree with that? Not necessarily, but for us to say ‘you’re wrong’ is silly, instead, they’ll ask what clients are comfortable investing in the stock market.”

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