Getting Ready With Bitcoin: Students Have Fun New Ways To Study Crypto

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“Bitcoin” was a term unknown to many people just a few years ago. As cryptocurrency continued to enter the mainstream, Bitcoin (BTC), Ether (ETH), and other digital assets were discussed more frequently. Recently, “Bitcoin” searches on Google hit an all-time high in 2020, and “Buy Crypto” searches jumped for the first time earlier this year, further demonstrating the interest of the general public.

It’s also important to note that Bitcoin and cryptocurrencies in general are gaining ground with younger generations. For example, a number of youth TV shows have started to mention Bitcoin. Most recently the popular British television series Teletubbies sent a tweet from his official account announcing that he will be hitting an NFT for sale with the proceeds from the charity.

Lack of financial education in schools creates new opportunities

While adoption is underway, the majority of children and adolescents, and many adults, remain uneducated in the use of cryptocurrencies and blockchains. A big reason for this is that financial education is not part of the school curriculum in some countries.

Vignesh Kamath, an A-level student living in Scunthorpe, England, wrote an article for TBEN Magazine last year explaining this dilemma. Kamath noted that “despite the obvious need for these skills, school curricula in most countries lack a comprehensive approach to financial education.”

The most recent ‘Young Persons’ Money Index’, a UK-based annual report examining the financial capability of young people, found that 83% of young people want to know more about money and finance in school, while that 75% said their literacy came from their parents. The report also shows that very few students are currently using Bitcoin or other digital assets as financial products.

With that in mind, it should be noted that new platforms aimed at Gen Z are being developed to help students learn more about cryptocurrency and blockchain.

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Cryptocurrency exchange and custodian Gemini recently partnered with Learn & Earn, an app that allows students to learn about financial literacy, while also earning fiat rewards. Cameron Winklevoss, chairman and co-founder of Gemini, told TBEN he was excited to foster crypto education among the younger generations through this partnership:

“Our mission at Gemini is to empower the individual through crypto and we believe this journey begins with understanding. Through our partnership, Learn & Earn offers students a simple yet comprehensive way to learn more about cryptocurrencies, while also earning rewards for their progress. ”

Michael Gleason, CEO of Learn & Earn, told TBEN that the app was originally inspired by Junior Achievement, a non-profit organization that prepares young people for success and seeks innovative ways to reach kindergarten students. in grade 12 to teach financial literacy, entrepreneurship and work preparation. Gleason explained that the project has evolved into a micro-learning platform that offers quick courses for the “TikTok generation,” helping students understand crypto and blockchain, while also earning fiat rewards.

According to Gleason, cryptography courses and in-app content grow rapidly and evolve with space. “The demand for courses for blockchain-based knowledge is among the highest that we have seen and generated by impatient students,” he said.

Related: What Is Bitcoin & How Does It Work?

Gemini sponsors all crypto courses, explaining what it is, the different types of crypto, and its history. It will educate young people on topics such as digital wallets, decentralized finance and the growing acceptance and future of cryptocurrency.

Although the app has a strong focus on teaching crypto, Gleason noted that the overall goal of Learn & Earn is to help students save and invest, thereby learning more about finance. This is achieved by allowing US-based K-12 students to earn cash at the end of each course. Students then invest their income in UTMA / UGMA approved investment accounts to keep their portfolio diversified and growing over time, which they can access once they turn 18. Gleason explained:

“Students have a ‘Core’ portfolio of the world’s largest diversified exchange-traded fund, and they can also select up to ten separate large-cap stocks, or ETFs, from an organized ‘Explore’ portfolio. This allows students to invest in fractional stocks of companies like Apple, Tesla, Netflix, and Microsoft. “

While fiat rewards are currently available for young learners, Gleason mentioned that an option to earn in-app crypto will be available soon. “Students may also be able to earn non-fungible tokens in the future, we’re working on the vision.”

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In addition to Learn & Earn, cryptography education is advancing in various US states. More recently, the Georgia House of Representatives passed a bill requiring financial literacy classes in high school programs. The bill was sponsored by six State House candidates and was sent to the State Senate for further consideration. The program mentioned in this bill includes 16 areas of financial literacy, including cryptocurrency as a final priority.

Social media influencers are also doing their part to ensure crypto education for young adults. Micro-influencer Miss Teen Crypto told TBEN that her interest in crypto stems from her father’s involvement in space:

“My dad has been interested in cryptography for 5 years and talked about it all the time. I didn’t really think about it at first because I thought it was only for adults and finance people. Crypto finally clicked for me in 2018-2019 when I was shown how a Bitcoin transaction works and how simple it is. ”

Miss Teen Crypto realized that Bitcoin was the new store of value and questioned Google to learn more about the blockchain. “I then wondered why no one my age knew about this amazing new way of digital transactions, along with other emerging blockchain technologies, which is why I created my social media accounts.”

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Its goal is to educate and educate the younger generation about the adoption of cryptography. She did this by distributing physical starter cards – scannable educational cards with information about BTC, ETH, and other cryptocurrencies – to the people of Manhattan. She also has a website with helpful videos for crypto newcomers.

Parents may be reluctant to adopt new crypto learning apps

Despite innovation in crypto education, some have pointed out that parents may be reluctant to let their children or teens learn about digital assets or blockchains.

For example, Gleason mentioned that while the Learn & Earn platform is easy for students to use and interest remains high, registering the parent account has become a challenge. “Acquiring student users is easier with a partner like Junior Achievement, but the hardest part is getting parents / adults to create UTMA / UGMA accounts,” he explained.

Related: What Is Cryptocurrency? A guide for beginners

Miss Teen Crypto noted that she has noticed a big change in parents’ views on crypto over the past year. “Many are starting to see Bitcoin as an investment, while many I have spoken to saw it as a scam.” She pointed out that the lack of adoption was the reason behind this, adding that “many are seeing companies adding Bitcoin to their balance sheets, accepting Bitcoin as a payment as well as many news stations covering Bitcoin.”