Kyle Winstanley, a student of University of Michigan, dropped out of school and decided to get into bitcoin trading. The 22-year old student got into cryptocurrency when Spencer Porter, his classmate, added him to a cryptocurrency group in Facebook. Within a few weeks, both of them were hooked to the craze.
Winstanley was always interested in the markets, even during his freshmen year. In his sophomore as well as freshmen year, he taught himself the concepts of stock trading.
While Porter was in his marketing internship this summer, he stumbled upon a secure message platform that was based on blockchain (known as Obsidian) and he decided to invest in the platform’s ICO. Soon, they began to network with other students from the college via Facebook and sharing predictions and market analyses.
Porter’s room soon became a Bitcoin trading room. In September, Winstanley invested $200 and Porter contributed about $2000 to their endeavor. By December, both had developed about $15000 and this was enough to convince Kyle to drop out of school and pursue full time cryptocurrency trading.
The decision to quit school even when he was just one semester short of graduating was because of the market. He couldn’t let the market happen again without his attention to it.
Many like Porter and Winstanley are being swept up in the easy riches offered by cryptocurrencies. The volatile Bitcoin and blue chip has climbed more than 15 times this year. While only a few students are making a full time leap into trading, buying these currencies is really easy. It is as easy as sending money via online wallets and many students are shelling their spare cash out with the hopes of becoming rich.
The current generation now prefers to own Bitcoin rather than buying stocks.