I became super interested in the crypto space in April 2021, when I saw the ROI was higher in blockchain than conventional financial instruments,” said Mukund Gandhi. “That’s when I jumped into the DeFi space.”
No, he is not a former banker or corporate techie. Mr Gandhi is just 15 years old.
Meet the crypto kids: Teenagers who talk like traders. They are not dabbling in cryptocurrency to please their parents or stand out on a college application; their genuine interest will likely shape the future of new financial systems. Mr Gandhi, a student at Indian School Wadi Al Kabir International in Muscat, Oman, was first introduced to all things crypto on social media. When it piqued his interest, he spent hours researching online and watching YouTube videos. His father was also interested in the space and the two became fascinated.
“It is like learning a new language. Crypto and blockchain technologies are vast subjects and can be quite complex for inexperienced traders to grasp,” he said. “So, a lot of new investors shy away from entering the crypto space due to the complexities. Which is a shame.”
Financial literacy often is not traditionally part of a school curriculum. Today, students are taking matters into their own hands by researching their interests online, which include managing money.
“You can’t go into crypto blindly just because you read about people becoming millionaires in a short time,” said Mehek Mandal. “Before a single investment, you have to put in the time to read and learn as much as you can, then it becomes second nature. And, really, there is no greater resource than information from the internet right at your fingertips, anytime.”
The 16-year-old Dubai College student had followed trends of major stock exchanges over the last few years, but became interested in blockchain when the coronavirus disease pandemic hit in early 2020.
“What stood out most is that crypto is open to everyone around the world 24/7,” she said. “Unlike, for example, the New York Stock Exchange, which is open from 9 a.m. to 4 p.m. US time, and there’s a time lag which we feel here during our ‘working hours.’ With crypto, you can invest anytime from anywhere.” Heavy research is only part of it; Ms. Mandal is an active investor and went on to help form the Dubai FinTech and Investing Society for interested students at her school. The group of 15 to 20 meet once a week to discuss trading and finances.
Nanaki Singh, a 17-year-old student at Jumeirah English Speaking School, is also a founder of the pioneering Dubai Blockchain and FinTech Society that brings together interested students from high schools across the UAE to talk about money. She was even invited by the Expo 2020 to conduct a seminar on blockchain last year. Aside from a grueling school schedule, she enrolled in Wharton University’s fintech and cryptocurrency specialization course to deepen her understanding of decentralized finance and the current financial system.
“I wrote a research paper on the susceptibility of cryptocurrencies to double spend attacks,” said the talented senior. “Only a handful understand blockchain’s importance as a unique and powerful tool. I was motivated to educate my peers, the future leaders of tomorrow, on this transformative technology.”
I certainly didn’t sound like this when I was in high school. Now, I feel like I am playing catch up — and crypto is a good place to start, because it is relatively new.
Despite its volatility and relative newness, the open appeal of blockchain is clearly influencing smart, young people to explore financial alternatives at play — and perhaps create their own one day.
• Sara Hamdan is a former Merrill Lynch banker, NYT journalist and editor at Google. She writes on startups, women in business, and post-COVID-19 work trends.
Twitter: @SaraHamdan
