According to a survey conducted by Klarna, many young Finns who invest are interested in cryptocurrencies as an investment target. According to crypt investor Niko Mäenpää, the exchange rate development of virtual currencies includes both lower and upper hills.
Cryptocurrencies are a popular investment target in Finland, especially among young adults, according to a survey commissioned by the payment service company Klarna.
One in four Finns aged 18–25 and one in five Finns aged 26–35 say they are interested in investing in cryptocurrencies. Finnish investors over the age of 66, on the other hand, were not interested in cryptocurrencies at all.
One of those who is enthusiastic about cryptocurrencies is from Helsinki Niko Mäenpää, 31. Mäenpää started cryptographic investment in 2013 by investing approximately EUR 2,000 in bitcoin. Profits from cryptographic investments have since risen to millions of euros.
Mäenpää’s interest in virtual currencies ignited during his studies in law.
“I did not assume that it would immediately grow into anything very big, but I thought that there could be a great demand for cryptocurrencies in this society,” Mäenpää recalls.
Later Mäenpää exchanged his bitcoins for new smaller virtual currencies, once the best known the environmental impact of the cryptocurrency began to think.
“I foresaw that there would be a demand for them when the biggest casting defects in bitcoin started to occur. It didn’t take long for the market to realize that there are cryptocurrencies other than Bitcoin. ”
According to Mäenpää, it should not be generalized that all cryptocurrencies are polluting the environment, as there are also virtual currencies that do not pollute at all. However, he said the criticism of the environmental impact of mining is justified.
“Even if the energy used for mining was produced green, it is still energy that could have been used for something useful.”
In addition to investing, Mäenpää has also been involved in launching several cryptocurrencies, and is now the CEO of Uhmu, an expert company specializing in cryptocurrencies and blockchain technology. However, Mäenpää has left the excavation for other crypto enthusiasts.
“I once put a laptop to extract bitcoin and got a few tenths of a thousand of them mined, but the laptop heated up so much that I let it be.”
At its best The profits generated by Mäenpää’s crypto investment have been approximately EUR 10 million.
“Of course, not everything has been realized, and the courses vary from day to day,” Mäenpää explains.
However, cryptocurrencies have been a long-term investment for Mäenpää, and he has not been interested in making so-called “quick wins” with rapid exchange rate fluctuations.
“The development of cryptocurrencies is not linear but can accommodate ups and downs. They should not be blinded, because otherwise the head may not be able to withstand that roller coaster, ”Mäenpää advises.
Klarnan the survey compared the attitudes of consumers in nine countries towards their personal finances. There were 1,014 Finnish respondents to the survey.
71 per cent of Finns aged 18–25 and 73 per cent of those aged 26–35 say they are interested in their economy. In Sweden, on the other hand, only 58% of 18-35 year olds said the same. Finland was also the only country in the survey where women were more interested in personal finances than men.
According to the survey, young Finns are more optimistic about the future than other age groups.
About half of Finns aged 18–35 believe that their own financial situation will be better or considerably better in a year’s time, while only one in four people aged 46–55 believe the same.