According to a survey conducted by “Save the Student”, a United Kingdom financial guidance website, British students are pouring more and more money into cryptocurrencies.
In its study, it revealed that students who are earning profits from cryptocurrencies have increased from 2% to 6% or a 3x increase.
Some 2,083 university students have participated in its survey called ”The National Student Money Survey 2021”. The study revealed that the majority of the students are struggling from their £810 monthly cost of living, that is why they are running into cryptos to earn much-needed income.
Crypto investors increasing as well
Aside from the surge of students participating in cryptos, the survey revealed that the number of investors venturing into virtual currencies is getting high as well. Thanks to the recent surge of Bitcoin and Ethereum, both in popularity and value.
The survey has highlighted the big risks that come with cryptocurrencies, such as their volatility, but the study revealed that some of the participants were persuaded to venture into cryptos because of their popularity.
Another concerning fact it has discovered was that there are people who have ventured into cryptos without a thorough knowledge of both trading strategies and risks.
The study also said that there is a big importance in equipping young people with clear, balanced, and necessary information about cryptos to help them make the right decision when it comes to investing in virtual currencies.
Working part-time
Because of financial limitations, the survey has discovered that 74% of British students in the study are working part-time just to meet their needs. They are earning an average of £404 per month from their part-time work. In another study, it revealed that 31% of Gen Z Australians are also getting into cryptos.
Image courtesy of Cointelegraph News/YouTube
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