A new CNBC report has revealed that parents are now turning to crypto to save for their children’s college education. According to the report, parents are now using crypto to increase their funds to meet up with payments for their children’s education in the future. In the report, more than 80% of the parents who intend to send their children to college have signaled an interest in digital assets.
CNBC report claims more parents are leaning towards crypto
The CNBC report quotes a survey conducted by intelligent.com, which saw the platform interview more than 1200 parents. The report talked about how parents could leverage crypto to give their children a better college education without wasting the funds. Also, the report talked about how they can reduce their crypto investment to curb excessive losses during downtimes.
In a recent statement by a professional financial advisor, parents are always wary of wasting their children’s college funds on speculative assets such as investing in crypto, among other things. According to the professional, parents should ensure that their investments in crypto towards their children’s education should not be more than 5% overall. He also advised that they diversify that quota among high, middle, and lower class digital assets.
Professionals advise on trading crypto
In the CNBC report, the analysts also warned parents to ensure that parents should toy with caution and ensure that their exposure to the assets is moderate. He also advised them to use a perfect strategy to ensure they get the best out of investing in the asset. CoinFlip executive Ben Weiss also gave some advice to parents who have students in places that fall in a different time zone other than theirs.
He mentioned that parents should ensure that any plan they set must effectively help their children in different time zones. He also wanted that parents should not invest in crypto if their children would be leaving for college in the next few months. However, he also advised parents who want to send children to college in the next ten years to invest in crypto aggressively. The CNBC report also hinted at other aspects of holding crypto, especially concerning taxes. The report mentioned that they should be able to calculate their taxes should they finally decide to take out all their savings.