Spring break goers on Miami Beach gave Fox News their definitions of cryptocurrency, saying its \"the future of the financial system.\"<\/p>\n
\"Cryptocurrency is like a digital universal currency thats used online,\" a Canadian resident visiting Miami told Fox News. \"Its kind of like stocks. It can go up or down. They fluctuate with the market, I guess, depending on the current trend.\"<\/p>\n
Cryptocurrency, otherwise known as \"crypto,\" is any form of currency that only exists digitally where transactions are secured through cryptography.<\/p>\n
Fox News Digital asked young men and women on spring break to explain crypto for those who dont understand how it works.<\/p>\n
A student from Kent State University told Fox News Digital crypto is \"not real money\" and that it is \"confusing to a lot of people.\"<\/p>\n
\"You can't just go to the store,\" and spend ten Shiba Inu, he added.<\/p>\n
BARSTOOL'S DAVE PORTNOY: BITCOIN, CRYPTO TOO BIG TO FAIL NOW<\/p>\n
Theres a difference between \"what the mass media wants you to go for and what actual crypto is,\" a University of Delaware student said. \"Its kind of like the difference between the S&P 500 and buying a regular stock in the stock market.\"<\/p>\n
Cryptocurrency is \"reverse inflation,\" another student from the University of Delaware said, adding that it is \"taking out the banks,\" and giving \"more money for the people.\"<\/p>\n
A Canadian resident visiting Miami said he thinks its \"OK to have a lot of mystery around\" crypto.\"<\/p>\n
I understand the bitcoin and stuff like that, but when you get into the NFTs and all that area I dont really understand that.<\/p>\n
\"I dont see how a picture of a monkey can sell for half a million dollars,\" he added.<\/p>\n
PETER THIEL: CRYPTO WILL NEVER BE' CONTROLLED BY GOVERNMENT, UNLIKE WOKE COMPANIES'<\/p>\n
The students expressed their opinions on the specific currencies offered under crypto.<\/p>\n
Story continues<\/p>\n
A Kent State University student told Fox News he invested in Shiba Inu and has \"probably gained about a grand from it.\"<\/p>\n
\"I started about a year ago. It fluctuates a lot,\" he said. \"Im not really invested in bitcoin. I dont have that much money, so I invest in the really cheap stuff.\"<\/p>\n
\"I think that Dogecoin represents the power of the people taking the power from the people that are abusing it,\" a University of Delaware student told Fox News. \"Dogecoin started as a joke, and now it has real financial value based on its demands.\"<\/p>\n
However, another University of Delaware student said he \"doesnt really trust things like Doge coin\" because its \"made up.\"<\/p>\n
\"Just this morning I actually made $150 dollars on crypto,\" he added. \"Ethereum is going to the moon right now.\"<\/p>\n
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A Kent State University student said he really likes crypto because it \"has a lot of unknowns,\" which he lives for. \"I have about $400 dollars invested into it, but I have over a million shares of it. So if I lose $400 dollars, I lose $400 dollars. Im in college [so] Im really not too worried about it.\"<\/p>\n
A Wisconsin resident visiting Miami told Fox News, \"its going to take a long time for [crypto] to become normal, and once it does, everyones going to be using it.\"<\/p>\n
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