It has been over two years since the pandemic began, yet it still continues to impose restrictions in the way people live. As new variants that are more transmissible emerge, business and school closures, travel restrictions and quarantines are still part of everyday life.
Although adults have had to address the heavier problems brought about by the pandemic, such as unemployment and inflation, children and teens have also had to deal with pressing issues of anxiety and what has been termed as the “pandemic blues.”
“Peer groups and social interactions are a critical part of development during adolescence. But these opportunities have been limited during the pandemic. Many teens may feel frustrated, anxious and disconnected due to social distancing and missing usual social outlets, like sports, extracurricular activities and hanging out with friends,” Mott pediatrician Dr. Gary L. Freed, who co-created a national poll on how teens’ mental health has been negatively impacted by the pandemic.
While face-to-face classes and many outdoor activities have already started in the United States, other countries are still on distance learning due to the uncontrollable spread of the coronavirus and its variants.
India is one of these countries where, despite efforts to reopen schools, most students are still in online classes. Some teens, however, have found an ingenious way to beat the pandemic blues–via digital currency investments. They not only gained a new hobby, but they are also earning extra spending money.
“I use all my pocket money towards investment in digital currencies. I have gained huge profits and I intend to continue doing this because this is such an easy way to make money. It is a volatile space, but the return on your investment is a motivating factor,” Dhairya of Delhi said.
And while Dhairya is already 18 and can use exchanges to trade cryptocurrency legally, there are many below 18 who are finding ways to still invest in digital currencies. Seventeen-year-old Mia Sharma from Pune and a 16-year-old high school student from Punjab who wants to maintain his anonymity are just some of them.
“Facebook also does not allow kids to join their platform, but who really follows the rules? Exchanges are the same; so many kids use their parents’ credentials and become users,” Dhairya explained.
“There are times when I sometimes get up in the middle of the night to find out the latest developments,” the 16-year-old boy shared.
These teens have put in efforts to learn how to invest in digital currencies. While the web is full of information about cryptocurrencies, with global blockchain conventions even being live-streamed for free, the challenge is to be able to sift through the data available and find the right ones.
It seems that with teens being extremely well-versed in the Internet has allowed them to find the correct path to digital currency investments. In fact, they have helped grow the digital currency market from $923 million in 2020 to $6.6 billion in 2021. Such is the impact of these teens in the market that exchanges have started to target them.
“Companies like WazirX are consciously creating apps and portals where they target these young kids, lure them into these investments, and address all their questions in a matter of seconds or minutes,” Vikram Kanwar, a news editor at a top Indian publication, revealed.
Although the pandemic has engendered many global problems, it has been kind to the digital currency space, allowing it to grow rapidly in the past two years alone. Teens being a part of this growth is a lucky bonus.