South African teens skip school to chase risky crypto dreams

A young man shows his cryptocurrency trades on his mobile phone in Tsakane Township, South Africa. — Thomson Reuters Foundation

JOHANNESBURG: John first heard of cryptocurrency three years ago, when the teenager came across slick YouTube videos and Facebook posts of other South Africans claiming to have become wealthy overnight with bitcoin.

Inspired, the then 14-year-old downloaded a trading app, lied about his age in order to set up an account, and began buying and selling crypto with his savings.