He has already invested and earned thousands of dollars.
TAMPA, Fla – Cryptocurrency: The most basic definition is that it is a digital currency that can be used to purchase goods and services not regulated by a third party.
Since it is such an alien concept to use a currency that is not backed by a government, many are turning away from it. Not to mention that it is not really easy to understand. But like most tech, teens grab it and jump right in.
A recent study by an investment firm of 7,000 teens found that 9% of them traded cryptocurrency. This is quite important for a currency that many of us have a hard time understanding. USF student Romeo Hill, 19, is one of the investors and he is excited about the future.
“As I understand it better, I trust crypto more and more and not only invest in it as a financial player, but I see it as the future of finance in a way. . “
When this economics student got his stimulus check last year, he took that money and invested it in cryptocurrency. Hill quickly made a few thousand dollars, but he had studied it for a while before investing.
âThey have fixed inflation or deflation zone rates and everything is very extremely transparent. There is a blockchain ledger for each of them where you can see each transaction and how much goes to which address etc.â
He thinks more people should invest, but not before they’ve done a ton of research and at least have a basic understanding of how it works and how to store it safely.
“I’ve figured it out enough, I’ve learned enough about it where I trust him more than in US dollars. And I want to pay my rent in crypto, I want to be paid in crypto and I want to do my shopping. in crypto and I really see it in the future. “
When the 19-year-old told his mother, a financial planner, that he wanted to put her stimulus money in cryptocurrency, she was a little skeptical. But Hill says the more research she did, the more interested she was and ended up making her own big investment.