Some children are blessed with wise grandparents who make big impacts on young lives. For Joey Cernak, it was his great-grandmother who made a lasting difference. “She would hide tins of coins with my name on them around her house. From the time I was little I would search for those tins when I visited,” he recounts.
Those coins became collections. Collections that were saved and then flipped for profit. At age eight he became an online precious metals trader. In 2013, he was offered 3.7 bitcoins as trade in one of his transactions. At the time that was $200 per bitcoin. He did his research and decided to accept the payment, which was non-refundable. A real risk by any investment standard.
This was Joey’s first, but by no means last, foray into the world of bitcoin. Today, he is quite comfortable with cyber currency as a real trend in the future of currency. His current portfolio includes other cyber currencies – Ethereum, Ripple XRP litecoin, cardano, and XLM, just to name a few. He purchased Ethereum when it was at $80 per coin. The current value hovers between $1200 – $1300 per coin. Ripple was purchased at 20 cents per coin. It’s now trading at $1.50.
What happens when this cyber currency bubble bursts? “I don’t see it actually bursting,” our young investor explains. “I think that some of the currencies will simply die while better alt-coins take over as they are more efficient and faster… I believe cyber currencies are here to stay, but you need to do the homework and research before investing. It’s risky – but that’s the nature of all investing.”
What’s the next investment platform for Joey? His answer is quick, “Stocks and real estate. I want to own a duplex by the time I’m 20.” Joey is currently 19. Joey Cernak’s story is a reminder that you’re never too young to invest in the future.”