Crypto money sometimes can feel like drug money, especially during the Bull market. Imagine investing $20 on a token and you see $1,000 the next week, that is some scary gambling drug money attitude right there. I got such experience with safemoon in 2021, invested $50 and made $500. Mind you, this is me, who have been taught by life to be very careful with money and meticulous with how I make it and spend it. So I believe that at this point in my life I can try my best to handle a good number of money or can I say wealth? I got the opportunity of investing in crypto 4 years ago, when I was in my final year in college, I made mistakes which made me lose lots of money, but investing in crypto brighten and expanded my perspective towards finance and money making.
Sometimes I can’t help but think of how I would be or what mental space I would be in financially if I got the crypto opportunity when I was 17. How will I see the world? What lessons will I learn, especially right now that crypto is making people a lot of money, through NFT. The internet is a wild place, and it’s also very wide, anybody can access them, kids can, kids below 18 years can have a crypto wallet account. Centralized exchanges and platforms are the only crypto platforms that made KYC(Know Your Customer) mandatory.
Now, imagine a kid who is between the age of 15 to 17 years, gets involved in crypto, may be went into NFT trading, got lucky and made over $100,000 at that age. Now that is a lot of money for someone at that age, they don’t know what to do with such money, at least for now, except buying extremely cool expensive gadgets, they are not used to having or seeing that amount. First of all, this teenager’s perspective on money has changed, not a lot of adults can say they have made up to $100,000 at once, here you have a teenager with that amount just sitting in their wallet because they made it through crypto. Do you think this person will ever think of wanting to have a regular 9 - 5 job that will be paying them at least $25/hour? Their perception about money won’t be the same anymore, because they got exposed to something way better at a tender age.
This person still has a long way to go, because at that age, if they still think that making $25/hour is too small, then it’s normal because they haven’t experienced life. If they can channnel the money and opportunity they have discovered at a tender age towards educating theirselves more about what they are earning the money from, they might just be more successful than what they expected. One thing getting exposed to money making opportunities can do is give you options of having different streams of income. It can be a blessing and a curse, depending on how you utilize such opportunity.
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Today's world is really interesting, you can see it starting with the emergence of e-commerce companies where it costs practically nothing to create an entire brand, the ads can even be tiktoks. The whole world of crypto is the same one day these kids can make 100k and the next day set leverage of 50% and lose everything. It seems to me that in most cases this is the case. One many young people have a much better chance of success because they are not afraid to lose that money because they still have plenty of time to make up for their losses, not like older people who have to keep their families. Great post!
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!1UP
That is true, they can take as much risk as possible because of how young they are
I totally agree with you and I can relate to the part where you said that crypto money at times can be like drug money.
I got into the crypto space about 3 years ago and if not for the so many responsibilities I have, I may just be spending money anyhow. In fact, anyone can be guilty of this but all thanks to responsibilities, we know that it is important for us to save before spending, and not spend more than we earn even when we feel like we are earning a lot.
You were lucky with your investment. The one I invested in ended up getting hacked and since then I lost the motivation to ingestion in a crypto project but I can give my all for a project like Hive.
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