Why are young people around the world flocking to the cryptocurrency space? The myth of getting rich quickly, opportunities of the era, and the gamble of risks

The cryptocurrency space continues to showcase wealth creation legends: Zhao Changpeng built Binance into a global giant in 4 years; Li Xiaolai cashed out 13.5 billion with 100,000 bitcoins; beef seller Guo Hongcai transformed into a bitcoin investor; 17-year-old Erik Finman invested $1,000 in bitcoin and now has a nine-figure fortune; 'Liangxi' turned 1,000 yuan into nearly 40 million through high-leverage trading. These stories attract young people globally who harbor dreams of 'getting rich with low costs' and even staying up all night to monitor the market.

This trend has become a global phenomenon: 75 million young people in India, 28 million in the U.S., everyone in South Korea is trading cryptocurrencies, one in every five in Brazil is involved, and over 20 million in Indonesia have entered the market. Among the 560 million participants in the global cryptocurrency market, young people aged 18-34 account for half, with Asian youth being particularly active.

The myth of getting rich quickly is the core incentive, and social media amplifies the anxiety of 'missing out'. Cryptocurrencies, relying on blockchain technology, align with the needs of young people in the digital age due to their decentralized and low-barrier characteristics, while the 24/7 trading mechanism caters to their desire for quick profits. Meanwhile, high housing prices and employment difficulties have led young people to view the cryptocurrency space as a shortcut for social mobility.

However, behind the excitement lies a myriad of crises. Most people lack professional knowledge and face risks such as price manipulation and fraud in an unregulated market, with high leverage potentially leading to total loss. This 'cryptocurrency craze' is not only a wealth gamble but also a collision between the financial order of the digital age and traditional rules. In the future, only rational understanding and risk management may allow one to stand firm amidst the waves.