A financial guideline website in the United Kingdom, Save the Student, carried out a survey recently to quantify the number of students in the UK that is involved in the crypto space through investment.
The results from the survey, however, revealed that the total number of students investing in the digital assets markets has risen multiplied by three from 2% to 6%.
Between the period of May to August this year, exactly 2,038 students participated in The National Student Money Survey 2021, where it was realized that a larger percentage of the students are suffering from the high cost of living (approximately £810 a month), which now pushes them to sources for other streams of income.
News Investors in the Crypto Space
As a result of the fact stated above, a number of the students resulted in crypto trading and investing this year, according to the result from the poll, which led to the boom witnessed in the Bitcoin and ETH market.
Though the survey showed the risks attached to this decision by many, the financial guideline website revealed that many of them launched into the crypto space merely because of the hype without having the full grasp of the risks involved and the effective strategies needed to thrive in the market.
Talking about cryptocurrency, there is a need for the students to be well-informed on how the crypto market works so that they can make careful and accurate financial decisions.
The stated that the fact that an average student in the UK is looking for extra sources of income is supported by the poll conducted by Save The Student. The result revealed that an average student makes an extra £404 in a month from part-time jobs. But only 74% of the total students are involved in part-time jobs. This figure, however, is expected to drop to about 66% before the end of the year.
The Rise in Crypto Adoption in the UK
Indeed, the involvement of the students and young adults in the crypto space is increasing. The survey results revealed that about 31% of the ‘Gen Z’ Australians are involved in the crypto space.
Another interesting fact is that the fresh graduates from the university have shown huge interest in software development, making the job the most sought-after job. However, the majority of the recruiters for this job are from the blockchain technology and cryptocurrency industry. Statistics revealed that the number of job listings around this industry has increased by 118% from September 2020 to July 2021.
Altogether, the interest of the residents in the crypto space is still intact, as over $110 billion was invested in the space just last week.