The UK’s financial advisory website Save the Student conducted a survey that revealed a growing tendency for British students to invest in cryptocurrencies.
According to the survey, the number of students making money in virtual currencies has tripled in the last year, rising from 2% to 6%.
Between May and August 2021, The National Student Money Survey 2021 surveyed 2,038 university students, which showed that the vast majority of them suffer costly living costs of almost £ 810 a month, forcing them to look for other sources of income.
New investors are getting involved in cryptocurrencies
According to the results of the survey, therefore, an increasing number of new investors became involved in cryptocurrency trading this year, as BTC and ETH experienced a “boom” in the market.
Although some results highlighted the risks associated with investing in cryptocurrencies, Save the Student said that some people “have fallen into hype and are investing in cryptocurrencies without fully understanding the risks and effective strategies associated with these deals.”
Regarding investment in cryptocurrencies, research has suggested that “young people need clear and balanced information on cryptocurrencies to make sure they make careful financial decisions.”
The fact that students are looking for other sources of money is confirmed by a survey that showed that a typical British student earns £ 404 a month from a brigade, according to the survey. According to Save the Student, only 74 percent of students say they have a part-time job, and that number is expected to fall to 66 percent by 2021.
The uptake of cryptocurrencies is on the rise
According to a recent study, almost 31% of Generation Z Australians (aged 24 and under) own cryptocurrencies, a figure that has more than doubled since January.
Interestingly, with new graduates leaving universities, software development has become the most sought-after job for recruiters in the cryptocurrency and blockchain technology industries. According to statistics, the share of cryptocurrency and blockchain jobs increased by 118% from 5 September 2020 to 16 July 2021.
It is worth noting that interest in cryptocurrencies persists. In the last week alone, more than $ 110 billion has been invested in cryptocurrencies. In fact, since the beginning of the market bubble in August, BTC and the other 10 most valuable cryptocurrencies have made gains, with the flag currency again reaching $ 50,000.
Honestly, it is logical that students will look for another source of income, because the cost of living is still rising, so they reach for what they have at hand and can “earn” right away.