Stack’s CEO Will Rush is convinced that financial content, NFTs, Metaverse, and Web 3.0 can be as compelling to teens as Tik Tok.
Teaching Children About Crypto
CEO of Stack Will Rush claims that there is tremendous demand among Generation Zers to learn about cryptocurrency, but they often prefer to consume educational content via social media, which lacks a certain level of depth.
The team behind the Stack app is looking to fill a niche in the industry by producing content that specifically resonates with adolescents by developing interesting financial content in the style of TikTok and YouTube videos.
He also shares instances of minors trying to get into cryptocurrency by using their parents’ information to open accounts on exchanges like Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD), only to have them frozen for not being of legal age.
Start Trading as Early as 13
Rush believes that Stack stands out from other crypto exchanges like Coinbase and Robinhood because it offers a trading environment and features designed specifically for teens.
The company claims that Stack accounts are governed by the ‘Uniform Transfers to Minors Act’, which permits parents and legal guardians to retain ownership of an account and its assets until their adolescent reaches the age of 18.
To further protect its users, Stack has set limits on trading possibilities. Stack provides buying, trading, and holding services for seven digital assets, namely: Bitcoin (BTC), Ether (ETH), Cardano (ADA), Solana (SOL), USD Coin (USDC), Litecoin (LTC), and Polygon (MATIC).
The platform doesn’t allow off-platform transfers, which eliminates the possibility of exposure to up to 98% of all bitcoin fraud and scams that currently plagues existing exchanges.
With the company aiming to increase young people’s financial literacy, they plan to encourage teens to become long-term HODLers, rather than get in drawn by wild day-trading speculation.
On the Flipside
Why You Should Care
As crypto is gaining favor among youngsters, and a legit educational and trading platform could do wonders to protect vulnerable traders from avoidable financial losses or mistakes. While crypto influencers on social media platforms such as Reddit and TikTok have become an essential source of information for teenagers, social media also serves as the primary arena for crypto-related scams.
Read more about Generation Z and its atttude towards crypto:
Are Gen Z Or Millenials More Enthusiastic About Crypto?
The Favourite Coins of Each Generation
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Source: Cryptocurrency - investing.com
