Young people tend to seek easy money and invest in less risky assets. So, cryptocurrency and NFT are the main attractions for Gen Z. However, these digital assets are not within a certain regulatory framework. It means that there is literally no protection whatsoever for investors. “All my friends talked about [cryptocurrency]. So one day, I decided to jump in and see if I could make money,” argued Paxton Sittou, a 20-year-old young man. With a single click using a mobile phone, anyone could trade thousands of dollars.
Gen Z (or “Zoomers”) is a generation born in the mid-1990s and early 2000s. They grow up in digital environments such as the Internet. This is such as making friends and playing games in Internet space from an early age, naturally accepting change. So, cryptocurrency is a digital currency. ‘NFT’ is a method of owning an original digital image and is a technology that attracts attention as a digital solution for a collection. About a year ago, Sittou purchased one of the most popular cryptocurrencies, Bitcoin, worth 1,000 Singapore dollars. Immediately after tasting a 10% profit, Sittou immediately decided to quadruple his portfolio.
But that doesn’t stay long, bitcoin prices went down then. “I did exactly the opposite when I said, “”Buy low and sell high. I let the emotions dominate at the time.” As a result, Sittou has lost $1.000 investment. It was even before the re-establishment of investment strategy like hurriedly withdrawing funds. However, the warning that “he could lose a huge amount of money” does not seem to deter young investors. In fact, many people first taste digital assets through “money-making games (P2E games).” P2E games literally mean that you can earn money while playing games, and you can exchange rewards such as NFT and cryptocurrency that you earned while playing games into actual real currency.
