Brisbane school holds cryptocurrency information night
Students have already been trading heavily.
OPINION: With all the buzz around cryptocurrencies, it's little wonder that the most tech-savvy generation ever is trying to get in on the potential profits. But the interest at Brisbane's St Laurence's College has been so great, the school has invited parents and students to a presentation on the subject, with many students already engaged in purchasing and trading cryptocurrency.
According to a report from the ABC, an email to parents, staff and senior students stated, "The presentation will look at features of cryptocurrencies, the technology underpinning them, and will give some very basic information about the state of the market and ways to keep investments safe".
There are success stories out there of young people who invested small amounts that turned into large fortunes. A software developer recently cashed in 45 bitcoins and walked away with a US$200,000 Lamborghini Huracan, and another bitcoin millionaire buying a $6 million mansion in Miami on the back of a 455 bitcoin trade.
No doubt, students are seeing these opportunities and wondering why they can't be in a position to do the same. With prices continuing to rise and fall by 30% to 40% in short periods, some see those falls as an opportunity to turn quick profits, though there's also a high risk of quick losses.
Alongside the students seeking to engage in cryptocurrency trading, a new wave of trading advisers and assistants is being spawned. Young people, who dabbled in cryptocurrency trading in the earliest days, are setting up practices where they provide advice or execute trades on the behalf of people looking to enter the markets but are unsure about how to get started.
While these people may not have long experience in established financial markets, they have as much experience as anyone else when it comes to cryptocurrencies. And, as they are young, they may have a better understanding of young people and a more accessible communication style.
St Laurence's College may be one of the first schools to actively engage their community around cryptocurrency trading, but I suspect we'll see more if this continues to happen in the coming months. After all, why flip burgers at Maccas when you could possibly make more money in the volatile world of cryptocurrency trading?