During the summer, we hosted two lectures about crypto for young scholars (12 to 18 years old). They spent one week learning everything about finance, and one of the topics was also the crypto world, where our CFO, Matej Tomazin, shared his immense knowledge with them.
Youngsters were curios, but also knowledgeable
It was nice to see so much interest since this is the best indicator of what the future user/investor will be. We found the youngsters’ questions quite indicative of the knowledge and interests of the bright minds of tomorrow.
- What are the banks doing?
- Did Venezuela succeed with its crypto?
- What is the story about the Winkelvoss brothers?
- Did crypto make a lot of people rich?
- Is it worth buying just 10 eur worth of Bitcoin?
Diverse and interesting questions, right? We can see that some are specific, some are logical, and some reveal misconceptions. That means that young scholars are aware of the crypto scene.
We suppose this is a reflection of several factors: mass media, digital native generation, and acceptance of innovation.
Bitcoin vs Ethereum - which one is more popular?
When we asked them if they knew about bitcoin, everyone raised their hands. But when we asked about Ethereum, there was only one third that raised their hand. That result is quite similar to the results of surveys we are getting. Bitcoin dominance and also recognisability, is the effect of mass media coverage.
The Serious Stuff
We were positively surprised when we heard the question about the role of the Winklevoss brothers (you might know them as the guys behind the Gemini crypto exchange), and if Venezuela succeeded with issuing its own cryptocurrency (which was the talk of the town a while ago, but never really materialised).
That is some serious badass knowledge already, and we assume that they have relatives (parents) who are already invested in crypto or work in the industry. If our assumption is incorrect, that is a plus, since we then know they are into it organically.
What about the misconceptions
#1 Buying Bitcoin is very complicated. They were happy to hear that it is as easy as buying something on eBay or Amazon. (The three easy steps: Register. Choose. Buy.)
#2 You need 10k to buy Bitcoin. They were even happier when they heard that it can be bought in smaller pieces (not like stocks, where you need to buy the whole one). And at ICONOMI, you can start with as little as €10)
Education is one of the best investments.
It might well lead you to the next opportunity that you would not want to miss. And that is why it is important to spread crypto awareness. On our mission to accelerate the transition to a tokenized world, we plan to do more of that!
We invite you to also read our blog post about The Ultimate Guide to Basic Finance & Crypto Terms.