Today, more and more youngsters are becoming interested in cryptocurrency, and their age is increasing. The millennial generation believes that cryptocurrency is an effective method of payment.
What makes the subject of cryptocurrency so attractive to children in schools?
It's the new norm teens spend their time online on Youtube, Instagram, TikTok and Youtube. They also impart their knowledge to their friends. Most schoolchildren do not have the interest to study yet they are enthralled by cryptocurrency and investing.
Teenagers treat crypto trading as part-time work, or at the very least, a pastime. It's cool, tech-savvy it is trendy, and social platforms broadcast a constant stream of cryptocurrency news on the feed.
Furthermore, the concept of the idea of a digital currency is radical: it is to be opposed to a centralised and pro-government system. This is in keeping with the cryptonewsru.com/kak-sohranit-rubli-v-crypto/ desire of teenagers to be a part of the world of today. In addition, teenagers are attracted by the opportunity to earn easy and fast money. The price of Bitcoin was $730 in 2017 to $67.530 in November 2021, and for the young mind of a teenager, this information is enough to convince them to invest.
What is the Russian law?
Russian law does not prohibit minors from mining or buying cryptocurrency. Teenagers from 14 to 18 years old are able to carry out any transaction with the written consent of their parents. They are also able to manage their own finances such as scholarships, earnings and scholarships, but the approval of their parents is not necessary.
While many platforms restrict minors from trading cryptocurrencies on their platforms, it's easy to register for these platforms. Students can convince parents or adults, who often don't understand financial matters themselves, to open accounts for them.
how can students participate in trading cryptos?
The network tells numerous stories of the resounding achievement of children in cryptocurrency transactions. For instance, Lev Chizhov, a finalist of the Generation Z: Digital Revolution contest, is a Russian eighth-grade student who programs neural networks and studies cryptocurrencies. He became aware of bitcoins near the end of seventh grade. He then began looking up data through the Internet, and after six months became the most advanced cryptocurrency expert in Russia.
Cryptocurrency is a type of digital currency that is not dependent on any one. Everyone is entitled to the same rights It doesn't have a center." Lev states- "Information concerning all money transfers since the start of the system is stored by each user. Blockchain is a distributed , decentralized data base. Cryptocurrencies are based on blockchain."
Numerous success stories of schoolchildren are widely known across the globe.
Eric Finman, a schoolboy from the USA He invested his money in bitcoin when he was 12 and in the following 6 years, his fortune grew to $ 4 million. He had already saved the beginning capital for breakfast. In 2013, he started his own Botangle teacher search platform and then a few years later, he sold it to bitcoins.
Eddie Zillan, aged 15 was a cryptocurrency trader who registered with two exchanges and bought $100 worth of Ethereum. He earned $ 10 within the first hour and continued to increase his balance. He also began investing the rest of the money he had. It was what he had saved and the gifts his family members gave him to celebrate holidays. There weren't any bloggers, no books, and no mentors from whom it would be possible to learn from experience and http://www.bbc.co.uk/search?q=crypto ensure that the teen was able to succeed on his own. He is now 21 old and his investment portfolio is greater than 1 million dollars.
It is amazing to hear the stories of people just starting out. John was a 15-year-old Londoner, was astonished to discover Brian Jung, a millionaire blogger on YouTube. Jung dropped out college but made $ 100,000 through the use of blockchain. John was fascinated by crypto and persuaded his mother to create an account.
John and his mother invested 50 pounds each in Dogecoin and 180 pounds in Bitcoin, and 50 pounds in Cardano. He now spends 15 minutes each day examining the rate of exchange for cryptocurrency. He has learned a lot about diversification, market volatility, and transaction costs in just a few months. Due to the risk of investing, he does not want to make large investments. At his age, he knows much more than many adults with higher education.
What are the best ways for schools to regulate the trading of crypto?
Ten years ago, the world was much simpler. When it came to earning their first income, teenagers were able to make their own decisions. Social media is awash with information , and teenagers require help in discerning the truth from the fiction. Scammers come up with new methods to extort money from others, both virtual and physical. Financial literacy is crucial however, there are modifications.
It is essential to explain to children that trading on cryptocurrency market can be difficult and not as profitable as they believe. Although cryptocurrency can be regarded as an investment in speculative markets, it can't be considered an official currency. Additionally, the cryptocurrency market is unsteady, and the volatility is not regulated and sometimes, trading is conducted in violation of unfair rules. In general, there are a lot of frauds and scams available on the market that can be hard to understand for anyone, even adults as well as elementary school children.
New federal standards are aimed at ensuring the introduction of compulsory "elements of financial literacy" from September 2022. The Bank of Russia actively participated in this program, which highlights the importance to instill in children the knowledge of safe financial transactions on the Internet from the first grade. High school students will learn how to identify risks and formulate a personal financial plan.
Perhaps it's the right time for the educational system to accelerate its changes in order to keep pace with the changing world, of which the world of electronic money is just one part.