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Sunday, May 22, 2022

Gen Z and Cryptocurrency and NFT

In a recent encounter also  discovered this, was surprised at the fluency seen in  these technologies.  But not the risk in their use.  

How Gen Z is hooked on cryptocurrency and NFTs

By Mariko Oi   in the BBC Technology, Asia business correspondent

The lure of making a quick buck has always attracted young people to invest in risky assets. For Generation Z, it is the volatility - and the decentralised nature - of digital assets such as cryptocurrency and NFTs which appeals. But they are unregulated, meaning there is little investor protection.

"All my friends were talking about [cryptocurrency] so one day I just decided why not just jump in and see if I can make some money," says 20-year-old Paxton See Tow.  All he needed was his phone and trading thousands of dollars' worth of assets was only a click away.

Generation Z - also known as Zoomers - are the age group born between the mid-1990s to early-2000s. They grew up online, playing games and meeting friends virtually, so the transition is natural., Cryptocurrencies are digital currencies while a "non-fungible token" (NFT) is a way of owning an original digital image, touted as the digital answer to collectables. .... '

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