Some college students are eager to invest in Bitcoin and other digital currencies instead of using their money for more traditional expenses like tuition or rent. According to Cryptomonday.de, one in five college students has used their student money to buy cryptocurrency.
Many young people are bullish on the prospects of digital currency. They see it as a way to make quick profits and build long-term wealth. And they’re willing to take risks to get in on the action. For some students, investing in cryptocurrency is a smart move. They’re able to make profits that can help pay for their education. And in the long run, they could end up with a sizable nest egg.
Speaking on the data, Jonathan Merry, CEO of CryptoMonday, said
Cryptocurrency is becoming more and more popular, especially among young people. They’re the ones who are really driving innovation in this space. We’re seeing more and more college students using their money to buy cryptocurrency, and we expect that trend to continue.
The Call Is Beyond Investment
The US has a program domiciled at the Department of Education known as Federal Student Help. This program provides most college students financial aid in America, alongside guidelines for using the money. However, most students decide how to use the money after it hits their accounts.
„What’s interesting is that most college students don’t even know what they’re investing in. They’re just buying whatever is popular at the moment. That could be Bitcoin, Ethereum, Litecoin, or any of the hundreds of other digital currencies out there.“
While some college students are buying cryptocurrency as an investment, others are using it for more everyday expenses. Given the volatile nature of the digital currency market, this could be a risky proposition. However, many young people seem to be willing to take that risk.
So Why Are College Students So Eager to Invest in Cryptocurrency?
There are a few reasons. First, many young people see digital currencies as the future of money. They believe that crypto will eventually replace fiat currency (the dollar, euro, etc.) as the primary form of payment worldwide.
Second, college students are always looking for ways to make money. And with the volatile nature of the cryptocurrency market, there’s the potential to make a lot of money quickly.
Third, college students are generally more comfortable with risk than older investors. They’re willing to take chances that their parents or grandparents wouldn’t dream of taking. Given the potential rewards, it’s not surprising that more and more young people are turning to crypto.