We all know that most people think that trading and investments are things of adults as most children and teenagers are always unmoved about making investments at a tender age. But while that is a fact that is established, we have seen rare cases of children making investments. Bitcoin is no longer something that can be covered up or something that teenagers can be bared from due to its nature.
With the digital asset eliminating the need for a bank and various stringent needs to own the asset, a new survey has shown that teenagers are flocking into the crypto market. In the new survey that was conducted across the United States of America, it has been revealed that about 9% of the teenagers in the country are now turning to crypto.
81% of the holders were male
The that was conducted at the 41st edition of the Taking Stocks With Teens event saw about 7,000 children and teenagers interviewed. With this information and the above information put side by side, it has shown that out of the 7,000 interviewed, almost 630 teenagers now own at least a digital asset.
Also, out of the total number of people that said they own and trade crypto, almost 81% of the respondent were male. While the survey talked about just owning digital assets, the interviewer did not stress some trivial facts like the type of digital assets that they held or how active they traded, or the duration that they have been trading for.
Also, this survey has opened up a new debate amongst analysts and traders on how ideal it is to allow children to engage in trading digital assets. Others mentioned that even though most of the fault does not lie with the children because they follow the trends, they were interested in knowing the measures set up by respective crypto exchanges to control them.
Analysts discuss how the teenagers could have earned the crypto
Answering the questions put to him by various newsmen, the managing director at the European arm of Kraken, Curtis Ting, has a whole new perspective. He mentioned that as a crypto exchange, Kraken holds the core of trading digital assets in high esteem. He stressed on the fact that every member must be at least 18 and above before they are allowed to sign up on the platform.
While it looks like Kraken is the only one voicing out its stand, it is safe to say that other crypto exchanges such as Coinbase and Binance also have that rule in place. But even with the rule still in place, most of these teenagers can still have backdoor access to crypto without the crypto exchange knowing it.
An analyst at a research lab has mentioned that most of these children and teenagers might not possibly buy the digital asset themselves as their parents might be holding them on their behalf or night have given them as a gift. Other modes of earnings include referrals, airdrops, and others. This shows that it is still possible for people, no matter the age, to access crypto even with the 18 and above rule in place.