Encryption technology has become the mainstream.
It used to be an esoteric investment held by certain people on the Internet. Now it is held by many investors in their portfolios. It is estimated that the size of the global cryptocurrency market in 2021 is US $1.7 billion, and it is expected to reach US $32.4 billion by 2027. In the first quarter, encryption startups raised US $9.2 billion through 461 equity transactions, a year-on-year increase of 155%.
The development of encryption technology is partly driven by the participation of young people. Nearly a quarter of genz survey respondents said they owned encryption software, compared with 6% of baby boomers.
To learn more about the interests of the younger generation, I contacted several genz investors, who are part of the young investors network I founded, and will rush, the founder of genz crypto investment app stack.
Considering the recent decline in encryption value, I have to ask rush about the current market situation.
“If you believe that digital assets are the future of financial technology, you will know that this is another opportunity to get rid of bad effects and focus on the good,” he said. “Many of the most talented people I know have moved to Web3, so we have some of the brightest people who are moving in the next direction.”
Why do young people get involved in crypto?
One of the general trends I heard was that they saw the price of cryptocurrency soar and wanted to get a piece of it.
In 2014, rush got involved after seeing the sharp fluctuations in the price of bitcoin and began to try different brokerage companies.
During the 2019 coronavirus disease blockade, most genz members of the young investors network participating in this field saw a lot of content about encryption on tiktok. Many of them first participated in the dogecoin boom and then turned to other more famous coins.
A gobankingrates survey found that more than 34% of genz learned about personal finance from tiktok and Youtube. This illustrates the importance of social media in investment. Everyone I spoke to mentioned how important platforms such as tiktok and reddit are in their overall understanding of encryption and investment.
What advice do young people have for their peers?
From the cooperation with many young investors, I found that too many young people did not know what they were involved in when making investment decisions, and did not conduct appropriate research.
Genzers, who talked with me, talked about the importance of knowing what you invested in first, and mentioned their favorite youtube and encrypted websites, including encryption jokes and coinpedia.
Rush started from another angle. He said: Although you should conduct research before making any investment, if you just invest some money in the encryption market, you will become more than 60% of investors who do nothing.
He also explained the importance of not just going with the flow, and compared the fiasco of Wall Street betting. He said that although some people made money, the vast majority of them were at the top and suffered heavy losses. He said, you have never heard of these people.
What about careers in crypto?
In terms of career, encryption technology is becoming a way for many young people to participate. Finding a job in the field of encryption technology has always been one of the most popular themes of the youth investor network.
Both of the young people I spoke to said that they were considering a career in the industry. They originally wanted to work as an investment banker, but after seeing the amount of money and popularity of encryption technology, they began to see it as a potential career.
After seeing that many people have done well in a short time after creating their own projects, they are also interested in building in this space. They think this may be a good experimental place. In fact, the number of jobs in the encryption industry increased by 118% in 2021 compared with 2020.
Rush said that I must have seen one thing in my work with Yin: young people today are very entrepreneurial, and many people have passwords in their minds. He believes that as young people become entrepreneurs, more and more young people will find themselves in an encrypted space.
How do you break into the crypto space?
Rush’s first recommendation is to work with encrypted content. He said that it is important to know what is going on outside, whether it is watching advertisements (don’t skip advertisements, no matter how much you want to watch funny cat videos) or looking for interesting new agents or projects. Rush says it’s important to get career advice from celebrities and talk to people who have done what you want to do, not social media stars who claim to know the next big thing.