Students have fun new ways to study crypto

“Bitcoin” had been an unfamiliar time period to many people just some years in the past. While cryptocurrency continued to enter the mainstream, Bitcoin (BTC), Ether (ETH) and different digital property had been being mentioned extra often. Recently, “Bitcoin” searches across Google hit a record high in 2020, and “Buy Crypto” searches surged for the first time in the beginning of this 12 months, additional demonstrating the mainstream curiosity.

It’s additionally vital to be aware that Bitcoin and cryptocurrencies normally have been gaining traction with the youthful generations. For occasion, a variety of tv reveals for kids have began mentioning Bitcoin. Most not too long ago, the favored British tv collection Teletubbies sent a tweet from its official account saying that it is going to be minting an NFT on the market with the proceeds going to a charity.

Lack of economic training inside colleges creates new alternatives

While adoption is underway, nearly all of youngsters and youths, and plenty of adults, stay uneducated when it comes to the usage of cryptocurrencies and blockchains. A big purpose for that is due to the truth that monetary training just isn’t part of the college curriculum in some international locations.

Vignesh Kamath, an A-level pupil dwelling in Scunthorpe, England wrote a feature for Cointelegraph Magazine final 12 months explaining this dilemma. Kamath famous that “Despite the clear necessity of these skills, school curricula in most countries lack a comprehensive approach towards financial education.”

The most up-to-date “Young Persons’ Money Index,” a United Kingdom-based yearly report inspecting the monetary functionality of younger folks, found that 83% of younger folks need to find out about cash and finance in class, whereas 75% stated that their monetary literacy comes from their dad and mom. The report additionally reveals that only a few college students presently use Bitcoin or different digital property as monetary merchandise.

With this in thoughts, it’s noteworthy that new platforms catered towards Generation Z are being developed to assist college students find out about cryptocurrency and blockchain.

The cryptocurrency change and custodian Gemini not too long ago partnered with Learn & Earn, an app that enables college students to find out about monetary literacy, whereas incomes fiat rewards. Cameron Winklevoss, president and co-founder of Gemini, instructed Cointelegraph that he’s excited to foster crypto training throughout the youthful generations by way of this partnership:

“Our mission at Gemini is to empower the individual through crypto and we believe that journey begins with understanding. Through our partnership, Learn & Earn provides students with a simple yet comprehensive way to learn about cryptocurrencies, while earning rewards on their progress.”

Michael Gleason, CEO of Learn & Earn, told Cointelegraph that the app was initially inspired by Junior Achievement, a nonprofit that prepares young people for success and seeks innovative ways to reach K-12 students to teach financial literacy, entrepreneurship and work readiness. Gleason explained that the project has evolved into a micro-learning platform that offers quick courses for the “TikTok technology,” helping students understand crypto and blockchain, while earning fiat rewards.

According to Gleason, the crypto courses and in-app content are growing quickly and evolving with the space. “The course demand for blockchain-based knowledge is some of the highest we’ve seen and driven by students who are eager,” he said.

Related: What is Bitcoin, and how does it work?

Gemini sponsors all crypto courses, explaining what it is, the different kinds of crypto and its history. It will educate the youth on topics such as digital wallets, decentralized finance, and the growing acceptance and future for cryptocurrency.

While the app takes a strong focus on crypto education, Gleason noted that the overall goal of Learn & Earn is to help students save and invest, thus learning more about finance. This is achieved by allowing United States-based K-12 students to earn money upon completion of each course. Students then invest their earnings in UTMA/UGMA-approved investment accounts to keep their portfolio diversified and growing over time, which they can access once they are 18 years old. Gleason explained:

“Students have a ‘Core’ portfolio of the world’s largest diversified exchange traded fund, and they can also select up to ten separate large cap stocks, or ETFs, from a curated ‘Explore’ portfolio. This allows students to invest in fractional shares of companies like Apple, Tesla, Netflix, and Microsoft.”

While fiat rewards are currently being offered to young learners, Gleason mentioned that an option to earn crypto within the app will soon be available. “Students may also be able to earn non-fungible tokens in the future, we are working on the vision.”

In addition to Learn & Earn, crypto education is progressing in various U.S. states. Most recently, the Georgia House of Representatives passed a bill that requires financial literacy courses in high school curricula. The bill was sponsored by six State House candidates and has been sent to the State Senate for further consideration. The program mentioned in this bill includes 16 areas of financial literacy, including cryptocurrency as the final priority.

Social media influencers are also doing their part to ensure crypto education for young adults. Micro-influencer Miss Teen Crypto told Cointelegraph that her interest for crypto stemmed from her father’s involvement in the space:

“My father has been interested in crypto for the past 5 years, and would talk about it all the time. I didn’t really look into it at first because I thought it was only for adults and people in finance. Crypto finally clicked for me in 2018–2019 when I was shown how a Bitcoin transaction worked, and how simple it was.”

Miss Teen Crypto realized that Bitcoin was the new store of value and started Googling questions to learn more about blockchain. “I then wondered why no one my age knew about this amazing new way of digital transactions, along with other emerging blockchain technology, which is why I created my social media accounts.”

Her goal is to spread awareness and education about crypto adoption to the younger generation. She has been doing this by giving out physical seed cards — scannable educational cards with information on BTC, ETH and other cryptocurrencies — to people around Manhattan. She also has a website with helpful videos for crypto newcomers.

Parents may be hesitant toward new apps for crypto learning

Despite the innovation for crypto education, some have pointed out that parents may be hesitant to let their children or teenagers learn about digital assets or blockchains.

For instance, Gleason mentioned that while the Learn & Earn platform is easy for students to use and interest remains high, the parent account registration has become a challenge. “Acquiring student users is easier with a partner like Junior Achievement, but the difficult part is getting parents/adults to set up the UTMA/UGMA accounts,” he explained.

Related: What is cryptocurrency? A guide for beginners

Miss Teen Crypto noted that she has noticed a big change regarding parental opinions toward crypto in the past year. “Many are starting to see Bitcoin as more of an investment, whereas many I’ve talked to have thought of it as a scam.” She pointed to the lack of adoption as the reason behind this, adding that “many are seeing companies adding Bitcoin to their balance sheet, accepting Bitcoin as payment as well as many news stations covering Bitcoin.”