The lure of cryptocurrency has become too much for some students to ignore, with many pursuing cryptocurrencies as a trading and/or an investment stream. Kyle Winstanley is one such student, who went as far as to drop out of college a mere semester short of completing his bachelor’s degree in engineering – for the sole purpose of cashing in on the digital currency boom.
The 22-year-old’s decision is not without reason; however, as together with a trading partner, he has brought his initial investment from $2,200 to $15,000 between September and December 2017.
Unsurprisingly, this amount was enough to convince him to put his degree aside and focus on trading cryptocurrency full-time. Additionally, his significant success earned him the full support of his parents and family members.
Although it has dropped down a few notches on his list of priorities, completing his degree is still something that he aims to do in the future.
“I’d love to have my degree at some point and come back and get it,” he acknowledged but continued with his motivation for postponing his studies, stating that he couldn’t allow the opportunity to pass him by without affording it his full attention.
Always having been interested in markets and stock trading, it is no wonder that cryptocurrency flagged his attention. Despite his interest in the field, Winstanley’s trading partner and classmate, Spencer Porter, is to be credited with introducing him to it.
Winstanley and 21-year-old Porter are far from the only students to have been caught up in the bitcoin and cryptocurrency wave. With many blindly pursuing the perceived easy money, it is important for them to keep the market’s volatility in mind, before making purchases and transactions that they may come to regret.
Although bitcoin, cryptocurrency’s flagship coin, has increased in value more than 15 times over since the beginning of 2017, there have also been some marked dips in value. These sharp declines are to be expected with the volatility of the crypto market, yet some fearful traders rashly pulled their invested funds out at a loss in an attempt to prevent being affected by possible future value drops.
As such, the cryptocurrency market is not for everyone, with the stress being more than many can handle! However, millennials appear to be more attracted to this fast-paced market than any other group, many even preferring bitcoin wallets to traditional savings accounts.
Although not completely stepping away from his studies, Winstanley’s business partner has also made changes to accommodate cryptocurrency trading in his schedule. Porter has split his senior year over two semesters instead of one, as well as committing to fewer courses, in order to free up some time.
In 2018, Winstanley and Porter plan to dive even deeper into trading, this time with more at stake. With their success and abilities more than established, the pair generated close to $70,000 as capital for their upcoming trading ventures, the source of the funds a combination of family contributions as well as the realized profits.
Winstanley and Porter are far from the only university students to develop a momentous interest in cryptocurrencies. As students all over the world are expressing an interest in increasing their knowledge on the topic, many universities have responded with for-credit blockchain classes as well as student discussion groups.
The broad-based student interest is creating a generation of people highly knowledgeable in cryptocurrency, trading and investing, boding well for a future of blockchain technology and similar leaps in the field of digital remuneration systems.