Crypto Club educates students about future of currency
Photo used with permission from Google Creative Commons
Club members use an interactive app to simulate buying and selling crypto currencies.
Founders of the Crypto Club juniors Luke Danielian and Tyler Cosgrove run the meetings and maintain requirements due to their love of cryptocurrencies and the journey they have had. Club members meet in adviser Keith Yanity’s room once a month, where everyone in the club gathers to discuss cryptocurrencies.
I created this app to help students have a better understanding of cryptocurrencies.
— Tyler Cosgrove
When club members enter their first meeting, they are required to bring a phone. On their phones, members will download an app that Cosgrove created for the club. Cosgrove developed the app after hours of hard work were put into creating the application for the club. “I created this app to help students have a better understanding of cryptocurrencies,” Cosgrove said.
In this app, members will “paper trade” cryptocurrencies during the meetings, which are investing in cryptos with fake money. This way, members see how well they know how to trade and invest cryptocurrencies and any profits or losses someone would have gotten if they used real money.
Investing takes a long period of time, and mostly nothing happens within an hour. At the meetings, members compare the positions of their paper crypto with peers around them and discuss what their profile is built on; members have the option to talk with the co-presidents after and receive advice.
Danielian currently owns real crypto and studies it frequently with his dad. “I got into cryptocurrency through my dad. He would always show me his crypto wallet, which is where he stored his crypto, and then from there, I started to paper trade cryptocurrencies until I started to profit, and here I am investing into crypto,” Danielian said.
Danielian and Cosgrove started this club because they are interested in cryptocurrency and have studied it for a long time. They decided to start a club to show people how exciting cryptocurrencies are and the volatility that comes with them. This is also a way to meet new people at school.
These meetings contain 10 to 20 people. The Crypto Club remains independent and does not meet with other clubs like the Stock Exchange Club.
The club talks a lot about defi-technology. This is finance without a middle man, “pretty much peer-to-peer transactions,” Danielian said.
Members do not need to have any prior knowledge to become a member.
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