Bitcoin, ethereum or tether… For the youngest, easy money and disillusionment in the country of cryptocurrencies

Bitcoin, ethereum or tether… For the youngest, easy money and disillusionment in the country of cryptocurrencies

He started investing in cryptocurrencies in early May, upstream when the market began its dizzying fall. When Arthur, a preparatory student at the HEC in Paris, aged 19, looked for his competitions, he was looking for “what to do with it [sa] life”. Finally, he will focus on these digital currencies, which were challenged before him by several students in his class who spent a year from sports betting to the stock market and then to bitcoin, the queen of cryptocurrencies. “In my neighborhood, those who bought it wanted to become millionaires in two hours. I’m interested because it’s fashionable, he said but also because bitcoin could become the currency of the future. It may one day be said that bitcoin was as important as the invention of the railroad. »

The student bought for 500 euros tether USD (USDT), and “stable coin” (stable cryptocurrency), which aims to replicate the value of the US dollar after spending long hours reading books and watching influencers. “I’ll be happy to find out before I play the lottery, he said and I haven’t lost much yet. »

Before they saw their prices unscrewed from the beginning of the year, the “cryptos”, or bitcoin at the head, peaked in November 2021 (the price of bitcoin was approaching 60,000 euros), which convinced a growing number of French people to try their luck. A study conducted by the consulting company KPMG in January reveals that 8% of French people have already invested in cryptocurrencies. Young people are over-represented among them, 12% under the age of 35 bought cryptocurrencies. This phenomenon also affects adolescents.

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“It is not allowed to sell cryptocurrencies under the age of 18 due to the volatility of these assets. says Manuel Valente, Scientific Director of the Coinhouse Cryptocurrency Exchange Platform, but teenagers can open it wallets [portefeuilles] without having to show your ID and receive cryptocurrency payments or have them sent to you. » Fintech GoHenry in the UK, who conducted a study on income sources for teenagers, claims that 1.3 million British children are investing in cryptocurrency. Among them are several ministers, such as Youssof Altoukhi, a 16-year-old businessman who launched his own cryptocurrency, the “Y coin”.

“We see his money rise and then fall.” We have the impression that we will be able to win a lot, when in fact it is more difficult. »Joseph, 20, student

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