These days, making money from various social platforms and cryptocurrency are became popular among young generation. While this can enhance entrepreneurial skills and economic literacy from an early age, they can lose time to short term profits instead of study or gain empirical knowledge.
The first main benefit is acquiring various skills like not only entrepreneurial from cryptocurrency, but also communicational and artistic via mass media. If they started making a profit in cryptocurrency, they would learn about those things that school cannot teach them; inflation, trading maneuvers and retail finance. Subsequently, social medias like Facebook, Instagram and You tube create an opportunity for teenagers to show their talent in the art -singing–dancing- and create gripping contends with the help of creativity and out-of-the-box thinking, with becoming famous easily. Teenagers who succeed in trading can serve as notable example, as they not only earn much money, but also learn managing them. As a result, this developed skills, such as digital marketing, content creation and financial management, are will be highly valuable in their future prospect.
Becoming addictive to this money is the crucial drawback of this phenomenon, because teenagers waste valuable time to make a money, not for study and expand their theoretical knowledge. This is because the earned money would evoke emotions to earn more and more. Little do they know that improving academic knowledge in the teenage period is more important rather than making money, because learn it in adulthood would be much difficult and too late for them. They can say that they will earn as now in the future, but no one can guarantee this apps can help you after decade, because in this competitive era this kind of short-term profits may be the trick of wealthiest.
In conclusion, the plusses and minuses of this trend are obvious.