Why Younger Americans Trust Crypto More Than Banks

Younger Americans place far greater trust in crypto platforms than older generations, with Gen Z and Millennials nearly five times more trusting than Baby Boomers, according to a new OKX survey.

The survey, conducted in January 2026 among 1,000 US respondents, highlights a deepening generational divide in attitudes toward digital assets and traditional finance.

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Crypto Trust Rises Among Gen Z as Boomers Remain Cautious

OKX’s survey found that 40% of Gen Z and 41% of Millennials reported high trust in crypto platforms, with scores of 6 or higher on a 10-point scale. By contrast, only 9% of Boomers expressed similar confidence.

This divide becomes even clearer when compared with trust in traditional banks. About 74% of Boomers assign high trust scores to legacy financial institutions, a level roughly eight times higher than the trust they place in crypto. 

Among younger respondents, skepticism toward banks is more pronounced. Around 22% of Gen Z and 21% of Millennials reported low trust in traditional banking institutions.

“To younger people, the traditional financial system feels like a relic from their parents’ generation. Gen Z and younger Millennials grew up in a digital world. It’s natural for them to be more comfortable with the digital asset economy,” Haider Rafique, Global Managing Partner, OKX, told BeInCrypto.

The data suggests that confidence among younger users is not only higher, but also growing. Compared with January 2025, 36% of Gen Z and 34% of Millennials said their trust in crypto platforms increased over the past year. 

Among Boomers, sentiment was more subdued. Only 6% reported growing confidence. Moreover, 49% said their trust levels had remained unchanged.

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But what is driving this trust? Is it shaped more by first-hand experience or by community influence, such as social media, peers, and content creators? Rafique said both factors play a role, but their impact differs for younger users.

He explained that for younger generations, social media is the most natural entry point for information, whether for customer support, user experiences, or assessing credibility. They turn to social platforms first when they encounter a problem, want to learn something new, or see what trusted voices are saying online.

“That said, real trust only builds through direct experience. This is part of a bigger change in Gen Z behavior: They verify it themselves through repeated personal use. In digital assets, especially, loyalty comes one smooth transaction at a time,” he added.

Half of Gen Z and Millennials See Crypto as the Future

This rising confidence is translating into action. This year, 40% of Gen Z and 36% of Millennials plan to increase their crypto trading activity. Just 11% of Boomers said the same, making younger respondents nearly four times more bullish than their older counterparts.

The differences in trust appear closely tied to what each generation values most. For Gen Z, Millennials, and Gen X, platform security is the leading factor cited by 59%, 50%, and 54% respectively. 

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Nonetheless, Boomers place the greatest emphasis on regulation and legal protection, with 65% identifying it as their top concern.

Among younger users who remain skeptical of crypto, complexity stands out as the primary point of resistance, according to Rafique.

“Gen Z grew up with fintech apps that feel effortless.  Crypto often still feels like handing someone a set of power tools and saying figure it out — confusing navigation, hidden costs, jargon everywhere. Irreversible mistakes that can cost real money,” he noted.

Meanwhile, the broader generational difference extends to long-term expectations about the future of finance. 52% of Gen Z and 50% of Millennial respondents believe crypto will eventually rival or surpass traditional finance as a dominant force.

Among Boomers, only 28% share that view. Moreover, 71% remain confident that banks will continue to underpin the financial system for years to come.

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“Younger generations clearly see crypto as a pathway to greater opportunities and a hedge against limitations in traditional wealth-building paths,” the report read.

Views on crypto’s usefulness further separate the generations. Nearly half of Boomers said crypto does not solve any problems better than traditional finance. Among Gen Z, only 6% agreed. According to the findings, 

“Younger participants consistently point to practical strengths that resonate deeply in a digital-first world, such as true 24/7 accessibility, borderless transfers, and the kind of flexibility that rigid legacy infrastructure simply cannot replicate. These perceived advantages fuel not just adoption but a sense of empowerment among those who have come of age expecting instant, always-on financial tools.”

The data suggests younger users increasingly perceive crypto as secure, innovative, and inevitable. Older generations, by contrast, are more likely to associate digital assets with risk and uncertainty.

Rather than acting as a constraint, this trust gap serves as a signal of where crypto’s momentum lies. Adoption and growth are driven by the generations that place the greatest confidence in the technology.

“Remember when Facebook was difficult for older generations to understand? Now, the entire platform is Boomers. We’ll see a similar pattern with the digital asset economy,” Rafique stated.

Overall, the findings point to a clear generational shift in financial trust. As younger users grow more confident through hands-on experience and digital-native channels, they are increasingly shaping crypto’s adoption trajectory, while older generations remain anchored to traditional banking models.