Venezuela to Educate Its Citizens on Crypto

After the launch of the national crypto Petro on February 20, the Venezuelan government has launched a free cryptocurrency training course  
26 February 2018   144

A free cryptocurrency course will teach citizens how to trade and mine cryptocurrencies, particularly the national oil-backed Petro, which was issued by the government on February 20. The courses will be based in Caracas, in Granja Laboratorio Petro school.

According to Carmen Salvador, a teacher of cryptocurrency trading at the established training course, the school offers a completely free training. He also noted that in any international market a trading course cost more than $500 to $800.

Many of our young people here find it impossible to have this amount of resources but the Venezuelan state is guaranteeing that all can participate through these plans.

Carmen Salvador

The teacher of cryptocurrency trading

The national oil-backed cryptocurrency was launched by the Venezuelan government in order to in order to attract foreign investors, bypassing the economic sanctions that are enforced against the country by the United States and the European Union.

20 % of University Students gain Cryptocurrency with Aid

The Student Loan Report along with Pollfish interviewed 1,000 university students with related loan debt
23 March 2018   157

It took them for 4 days to collect the data (from March, 16 till March, 20 of this year). All the participants were to ask the following question: Have you ever use student loan money to invest in cryptocurrencies like bitcoin?

The results were remarkable. The poll revealed that 21,2  % of current students with the loan debt have used aid money in order to fund a cryptocurrency investment. So, over one-fifth answered in the affirmative.

Drew Cloud, the leader of the Student Loan Report, clarified that the younger Americans are more active investors as they are rather optimistic about cryptocurrency. Therefore the students want to get involved in this subject in any way possible. Drew Cloud sincerely thought the percentage would be lower. He considers that any college student's budget is thin and limited, therefore some extra money may be used on rest, groceries, or books.

The Student Loan Report approved: student loan debtors would be to pull off such a manipulation as they are given their remaining loans to be used on “living expenses”. From time to time they borrow more than they end up needing for studies. College debtors`spending of the money is not officially tracked and this allows the leftover means to be spent in the way preferred by the student. Another important factor is loan debt payments often do not occur until after graduation, and generally 6 months after.

Mr. Cloud claimed that cryptocurrency was the most prevalent investment of 2017. The young Americans consider that digital money is a savvy way to spend their refund checks. Some students even suggest that they would be able to quickly pay their debts off (because “not long ago every virtual currency was experiencing seemingly unstoppable growth”).

A significant shortcoming from the survey are data concerning how much the average student of the university spent of their financial aid on cryptocurrency. It also would have been interesting to know what types of digital means students favoured.