If you ever thought college students would have to wait until they graduate before they are loaded, then you are wrong. Today’s university students are investing heavily in crypto ventures. In fact, cryptocurrency might make them billionaires even before they graduate.
Young people are always seeking for new opportunities, and time at college allows them to explore these possibilities thoroughly. Naturally, they show interest in innovative technologies including cryptocurrency and blockchain as they realize these innovations have a disruptive potential.
In its turn, the surge in interest from students has caught the attention of academic institutions, making them consider the possibility of educating them on the matter. Earlier this month, coinIdol.com, a world blockchain news outlet reported that most top universities in Europe, the Americas and Canada were either teaching blockchain and crypto-related courses or considering introducing them. This follows an even more surprising report by the same news channel two years ago that Dutch high school students were obliged to pass bitcoin math.
Many would perceive university students to be that “broke” group of people, desperate for little things such as textbooks, coffee, and other groceries sold at university canteens, but a student can actually be that well-off person the society recognizes if they spend their time at school well. College students have discovered a field where they can invest and make money instantly.
A Cisco security research group, in their findings, stated that despite the decreasing profitability of crypto mining, university campuses (especially those with large student populations) formed the second-largest mining community of virtual currencies.
At 18, Erik Finman became a millionaire after investing $1,000 of his scholarship to buy 100 bitcoins. As of 2019, Erik was worth 450 bitcoins, about $4.5 million. Erik did school and crypto trading simultaneously until he broke up.
Since the first crypto coin was introduced back in 2009, college students have maintained the culture of “buying and forgetting” crypto. Even $20 could generate several thousands of crypto due to the volatility in the value of crypto.
In 2009, Kristoffer Koch, then a college student injected $26.6 into buying bitcoin. After almost forgetting about it, the $26.6 investment became $886,000, a story that inspired many college students to consider venturing into crypto.
A 2018 report on US university students who receive financial aid from the government pointed out that 1 in every 5 college students was investing their loan into cryptocurrencies to make more money.
Although crypto mining has turned out to be extremely competitive, some college students, in their dormitories, have been found to install cheaper mining rigs in their rooms to grab some coins.
The strengths college students have in the crypto industry are mainly two: no bills and vast time. Given the nature of contracts of student accommodations, utility bills in halls of residences, hostels or dormitories are taken care of by a third-party. Unlike at home, college students can sleep with lights on, washing machines running all night or the AC turned on at any time of the day.
Students have used these opportunities to stay up late online to study crypto market behaviours, take crypto courses online, and invest in a more secure manner. Moreover, the recent wave of blockchain and crypto courses at colleges has groomed a generation of crypto experts at schools.
Due to the volatility of the crypto market, time and online resources matter. College students have the required time and resources to carry out a more secure crypto investment which put them in a better position to maximize profits.