Home Berita Crypto How Can Gen Z Get Enticed in Cryptocurrencies and NFTs?

How Can Gen Z Get Enticed in Cryptocurrencies and NFTs?

sugan 3 tahun lalu
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The lure of making money quickly always attracts everyone to invest, even though the assets are very risky . For Generation Z, digital assets like cryptocurrencies and NFTs are something of interest. But they unregulated , so there is little protection for investors.

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Generation Z is the age group born between the mid-1990s and early 2000s. They grew up online , played games , and met friends virtually, so encounters with crypto or NFT were natural.

"All my friends were talking about [cryptocurrency] so one day I decided why not jump in and see if I could make some money," said Paxton See Tow, 20, according to the BBC .

Cryptocurrencies are digital currencies, while non-fungible tokens (NFTs) are tokens for having a native digital image.

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More than a year ago, Paxton bought Bitcoin worth USD 743. One of the cryptocurrencies immediately gave him a 10 percent profit. His name is human no one is ever satisfied, he decided to double his portfolio. But the price immediately dropped. What happened? Make a loss.

"There's always the saying 'buy low, sell high' but I do the opposite. I let my emotions take over," she says.

Paxton had lost a thousand dollars, on top of all the money he had invested, before he could withdraw his money and re-strategize.

But the thousands of stories about people who lost large sums of money as a warning do n't deter young people from getting crypto trading.

In addition to the lure of making money quickly, the Covid-19 pandemic has also accelerated the growth trend of young people trading crypto and NFT.

"There is an extreme level of volatility in the market so when you have volatility, you also have opportunity in the market," said Lily Fang, professor of finance at INSEAD business school.

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"Young people are at home and it's like a game of commerce. All these factors create the perfect conditions for take off."

Gen Z also feels that advice for trading is readily available on platforms like YouTube, Twitter, and Reddit. So, n't need to take special classes for years if you want to play Crypto. This is another factor that drives many young people to be captivated.

However, with income that is easy to come by, there is still another great danger lurking. In addition to financial losses, cryptocurrencies can become addicted.

Andy Leach, from the addiction clinic Visions by Promises in Singapore, said he has received a surge of young clients, especially men, who are addicted to the thrill of crypto and NFT.

“You have the ability to watch Bitcoin go up and down and basically this process, this rollercoaster ride , highs, lows, it's available on your phone 24/7,” he said.

Despite losing money in the crypto in the past, Leach sees many people will continue to return to trading cryptocurrencies after studying it more closely. (*)

Cryptocurrency nft crypto bitcoin gen z 

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