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Young and Smart: Crypto world through the eyes of ‘Youth’

“Forget the rich, well-educated bankers, it’s the young people who are leading the way when it comes to cryptocurrency investment — and this generation of youth believes that digital money is here to stay.”

It was around 2019 when I first heard about Bitcoin and cryptocurrency. I saw my brother, a computer engineering student, checking technical charts for the first time. So I asked, “What is that?”, he said “crypto” and I was confused. I’m already into the stock exchange and working at that time, so I thought, is crypto a new ticker/symbol? I have no idea what this was all about.

A couple of years later, he was able to buy his own expensive bicycle from the profits. In mid-2021, he started to play the famous online game called Axie Infinity, and once again I was mindblown at how my brother was earning at his age. In fact, not only him, they were initially a group of 5 which became hundreds later on.

Who would’ve thought the charts would be for everyone — not just for people who study finance, Wall Street workers, big investors, or brokers in traditional finance.

Cryptocurrencies actually gave youth, especially Generation Z, a chance to rebel against the mainstream financial system. Traditionally, Wall Street dominates the financial system. Now, through decentralized finance (DeFi), everyone can access trading anywhere and anytime with their mobile phones.

If DeFi hadn’t existed, the average person today wouldn’t have been able to invest and trade. DeFi has improved everything from the threshold of practice — to the availability of tools and the ability to practice full-time.

Take Elon Musk as an example, he’s no different. He was just one of us, an industrial capitalist, not a financial capitalist, and prefers a meme economy such as DogeCoin.

The Youth Subculture

Over time, the youth subculture will eventually be adopted by mainstream society and become less rebellious. Just like rock music and niche art, its final destination will be business and compliance eventually.

In the last two years, cryptocurrency has become more than just a buzzword among tech-savvy and business-savvy young people. In a market that is saturated with thousands of cryptocurrencies, ambiguous regulations, and constant volatility, there is a definite need for information, and social media influencers are filling that niche successfully.

More so, there are YouTube videos, blog sites, webinars, chatrooms, and slack channels educating potential customers nowadays. Then there are social community groups on WhatsApp, Facebook, Twitter, and Telegram, offering tips on research and investment. Through these, the youth subculture has definitely conquered the crypto market and continuously keeps on growing.

Generation Z and Millenials of Crypto Space

Gen Z and Millenials interested in crypto (Q2 of 2021) | Source: Ypulse.com

A characteristic that distinguishes Gen Z from Millenials is their preference for the use of digital tools in everyday interactions. Therefore, Gen Z sees cryptocurrency as more than just a store of value. Many young investors think that the risk is worth it because they believe in the technology itself.

Regardless, both millennials and Gen Zers are self-taught individuals living in an unstable labor market with limited opportunities. With the ability to quickly pick up information and become aware of developments around them, their self-learning ability and entrepreneurial spirit have prepared them to become the best cryptocurrency consumers.

The millennial generation has led the charge in the early adoption of crypto. Meanwhile, Gen Z crypto users are more likely to adopt blockchain technology in a more rapid manner due to their digital native nature. More people becoming familiar with cryptocurrencies at a younger age is expected to increase enthusiasm for new generations of cryptocurrencies. It is becoming part of their daily culture and will be integrated into their way of living.

“Personally, as part of the youth, I’m extremely bullish on crypto’s future value. Besides, I only invest what I can afford to lose. I’m comfortable losing it because I make sure that I have all my bills paid and obviously it’s great when the gains come, but for me, it truly does have the potential to revolutionize monetary regimes across the world.”

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