Here’s what young entrepreneurs and investors think about crypto – GeekWire

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Crypto has become mainstream.

Once an esoteric investment held by a select group of people on the Internet, it is now something that many investors have in their portfolio. According to some estimates, the size of the global cryptocurrency market will be valued at $ 1.7 billion in 2021 and is expected to reach $ 32.4 billion in 2027. Cryptographic startups raised $ 9.2 billion in 461 stock transactions in the first quarter, a 155 % more year-on-year.

Part of this movement toward cryptography has been driven by the involvement of young people in space. Nearly a quarter of GenZ respondents said they own crypto, compared to 6% of baby boomers.

To learn more about the interest of younger generations, I contacted some GenZ Investors who are part of the new investment group I founded, Young Investors Network, as well as Will Rush, the founder of the cryptocurrency investment application GenZ Stack.

Given the recent decline in cryptocurrencies, I had to ask Rush for his opinion on current market conditions.

“If you believe that digital assets are the future of financial technology, you know this is another opportunity to get rid of the bad and focus on the good,” he said. “Many of the most talented people I know have migrated to Web3, so we have some of the brightest minds working for the next upswing.”

Jakob Diepenbrock.

Why do young people get involved in cryptography?

One common trend I heard was that they saw the price of cryptocurrency skyrocket and wanted to get a share of the profits.

Rush got involved in 2014 after seeing the price of Bitcoin making big moves and started experimenting with different brokerages.

Most GenZ members of the Young Investors Network who got involved in the space saw a lot of crypto content on TikTok during the blockade of COVID-19 and many of them first got involved with the Dogecoin craze and then switched to other more respectable currencies. .

A GOBankingRates poll found that more than 34% of GenZ learn about personal finance from TikTok and Youtube. This speaks to the importance of social media in the world of investing. Everyone I spoke to mentioned how important platforms like TikTok and Reddit were in their understanding of cryptography and investing as a whole.

What advice do young people have for their peers?

Working with many new investors I have found that many young people make investment decisions without knowing what they are getting involved with and without doing the right research.

The GenZers I spoke to first talked about the importance of understanding what you are investing in and mentioned some of your favorite YouTubers and encryption websites, including Crypto Banter and Coinpedia.

Rush approached him from a different approach. Although you should research before any investment, if you only invest money in cryptocurrencies, you will be above 60% of investments that do nothing, he said.

Stack CEO Will Rush. (Stack of photos)

He also explained the importance of not just following the crowd and used the Wall Street Bets fiasco as an analogy. Although some people made money, he said, the vast majority of people got to the top and lost a lot. These were the people you don’t hear about, he said.

What about crypto racing?

As for the career, cryptography is becoming a path that many young people want to get involved with, and getting a job in cryptography has been one of the most sought after events on the Young Investors Network.

The two guys I spoke to said they were considering a career in the industry. Originally they wanted to work as investment bankers, but after seeing the amount of money and the popularity of crypto, they started to consider it as a potential career.

They were also interested in building in space after seeing how well many people did in a short time after creating their own projects, and they thought it might be a good place to experiment. In fact, it has seen a 118% jump in career publications in the cryptographic industry in 2021 compared to 2020.

Rush said something I definitely saw through my work with YIN: young people are now very enterprising and many of them have crypto in their minds. He believes that as young people evolve as entrepreneurs, more and more of them will find themselves in the cryptographic space.

How do you enter the cryptographic space?

Rush’s number one tip is to interact with the cryptographic content out there. Whether it’s watching ads (don’t skip them, he said, no matter how much you want to watch the funny cat video) or looking for new runners or interesting projects, it’s important to understand what’s out there, he said. Rush said it’s important to get career advice from reputable sources and talk to people who have done what you want to do, not social media stars who claim to know the next big one.

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