Teenager makes thousands as self-taught cryptocurrency trader – ‘I was rather shocked!' – Express
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Woody Harrison first found cryptocurrencies at the beginning of the pandemic at just 15-years-old thanks to social media. But this was not the teenager’s first encounter with entrepreneurship and making money, funding his first investment by reselling trainers.
When Woody first encountered crypto, like many others, he had no association to words like Bitcoin.
However, the potential sparked his curiosity: “I think the element of it being a small investment, which carried high risk but high reward, first got me curious.”
Before this, Woody had been reselling rare trainers through platforms like Depop and eBay.
He shared: “I put £250 that I’d saved on my GoHenry card into a coin called XRP while placing smaller investments into more popular coins such as Bitcoin and ETH.
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“When I first saw profitable returns I was rather shocked! I did not expect what some were calling ‘sketchy online money’ to generate a profit. It was this point of realisation that really got me into trading.”
“I mainly invest in ETH and XRP but also have money in other smaller coins. I have now made upwards of £2,000 from my original investment.”
Woody’s parents “are very supportive” of his money-making endeavours, yet despite “repeated urges” from their teenage son they have chosen not to invest themselves, unlike his peers. Woody shared that his friends are aware of his crypto success and some have gotten involved in investing too.
Despite his success, the youngster is still at the start of his journey and hopes to continue his side hustles throughout his studies.
He shared: “I will be attending university with the hope to study business. However, I will be continuing both the clothing brand and my other investments.”
Like a true businessman, Woody has chosen to reinvest most of his profits into his clothing brand and crypto investments, with the hope that his returns will continue to grow.
During lockdown, Woody felt the need to do something “tangible and hands-on” and settled on creating Amphora Clothing with his brother.
He commented: “I immediately became hooked on the process, from design to marketing. We have released a few items including T-shirts, jumpers, gilets and jeans.
“We use social media to boost sales and, while all of our activity has been online to date, we are about to open our first pop-up shop!”
Sharing his tips for other potential crypto enthusiasts of all ages, Woody suggested: “I think you have to understand what you are buying to have the best chance with crypto.”
He warned: “It is all very confusing and with that comes a big risk of being scammed.
“The best thing that I did was take the time to do a lot of research to make sure I was investing in something legitimate. It definitely gave me the best start.”
Many people are advised to have a goal in mind whenever they save or invest in order to stay on track, and Woody’s is relatively simple but clearly effective.
He said: “My goal is to not lose money! I have set myself savings goals using the GoHenry app for the past few years.
“This really helped me when I was starting out as the dashboard on the app shows you how long it will take you to reach certain goals and when I should stop spending!”
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