Human beings have always been attracted by the possibility of making a quick buck, and the volatility of cryptocurrencies and NFTs is too alluring for members of Generation Z. Gen Z refers to individuals born in the mid ‘90s to the early 2000s.
As the years in which these people were born suggest, Gen Z grew up at a time when the proliferation of technology was at its peak. This means that these kids grew up playing video games and meeting their friends virtually. It seems natural, therefore, that they would take to crytocurrency and NFT trading in a big way since tech and gadgets are their thing.
For many, peer pressure acts as the first hook to get them to try trading cryptocurrencies, and once they dip in their feet, they are mesmerized by how quickly money can be made or lost as they stare at their computer screen or, more commonly, smartphone screens.
We mentioned earlier that Gen Zers grew up playing video games, and this has also provided a way for many of them to get hooked on trading cryptos and NFTs. There are many games online in which players can earn money each time they win a game. Many times, the winnings can be in the form of cryptos or credits to play the game again, and sometimes the winnings can be redeemed for physical money. These games have more or less normalized crytocurrency trading since individuals don’t see a difference between the games they play and the act of trading cryptos.
There are also a plethora of “financial influencers” on social media platforms such as YouTube who dish out advice on how one can earn big from crytocurrency trading. For example, 23-year-old Brian Jung boasts a million followers on his YouTube channel. Such influencers make it seem so easy to earn money by trading cryptos and NFTs, and this drives many Gen Zers to invest their earnings or savings into crytocurrencies.
For some, following the crypto markets, which operate 24/7, becomes a kind of obsession as they track how their investment is faring. Depending on who you talk to, this obsession may be viewed differently. For example, those who think favorably about cryptos will say people involved are displaying their passion for the technology. However, others are worried that these young people are becoming addicted and they don’t even know it.
Given that cryptocurrency trading attracts such strong emotions from both believers and detractors, the efforts being made to regulate the industry in different jurisdictions can only be welcomed since they will create a level playing field for all concerned. Such regulations could end up boosting the early movers in the blockchain space, such as Tingo Inc. (OTC: TMNA), that are developing novel platforms to address longstanding societal problems on various continents, including Africa.
NOTE TO INVESTORS: The latest news and updates relating to Tingo Inc. (OTC: TMNA) are available in the company’s newsroom at http://ibn.fm/TMNA
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