Australian Teenager Investors Are Growing In Number – And Thriving

Monday 15 February 2021, 7:00 AM AEST - 2 months ago

When you’re a young lad, your interests tend to revolve around the same things they have for centuries – enjoying the outdoors, chatting with your mates, and occasionally trying new things for the thrill of it.

Disclaimer: Be careful when trading Cryptocurrencies. They could can easily go to zero as well as going up. Please read our basic guides to learn more.

$10k Before Sweet Sixteen

To say the world is changing is an understatement. In Australia, for instance, older high-stakes pastimes are being phased out for more profitable ones – in this case, crypto investing.

According to the Sydney Morning Herald, these days teens are more likely to be trading in crypto – and making a tidy sum off of it, in many cases.

Sam from Cronulla Beach is an avid surfer – and he’s put his earnings from his job as a surfing instructor towards the crypto market, where he’s managed to turn a profit of 8.5k so far before hitting 16.

Sam Cornock, 15, uses apps such as CoinGecko and YouTube to research the market in cryptocurrencies. – Source: The SMH

Waking up to catch some waves before school leaves you plenty of time to check the market before others wake up – and in crypto trading the early bird tends to get the worm.

Sam knows this and says that he’s planning to cash out before the market becomes shaky.

I just figure if everyone is talking about it and FOMOing, surely, it’s going to pop soon. Maybe I’ll take a little bit of money out, so I don’t get burnt on the way down.”

In order to trade, he’s using a crypto trading account opened in his father’s name – who is quite proud of his sons’ success in a very volatile market.

“As a parent, I’m amazed by how many hours of reading and research he is doing. He’s researching economics and what the market is doing.”

It’s important to note that cryptocurrency – like any investment – tends to be incredibly volatile, and should be approached with caution and a good amount of research.

Sam trades in Bitcoin, Ethereum, and Polkadot – but admits he’s also lost some on riskier ventures. Haven’t we all though?

Big up to you Sam!

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