By Clyde Hughes | AC JosepH Media
BRIDGETON – Quamer Fowler wants to get you into cryptocurrency and investing.
Why does this 23-year-old from Bridgeton want to get you connected to cryptos, which are still a mystery to many in the general public?
Because he was where you are, out of his comfort zone dealing with the digital world, known for its use by cybercriminal and investors alike. But Fowler sees the future and that future is clearly showing that the world is moving digital.
With Coinbase, which runs the largest Bitcoin exchange in the United States, going public on the Nasdaq Exchange last April, the first exchange-traded fund linked to a cryptocurrency appearing on the New York Stock Exchange in October and with billionaire Elon Musk, one of the richest men in the world, pushing his own crypto just this month, cryptocurrencies are mainstream.
Fowler said the cryptocurrency's prominence is allowing African-Americans – those his age and older – to become players in the field. His Pinterest and Instagram page, Billionaire Child, promotes cryptos and hopes to encourage Blacks and other minorities to seriously take a look.
Speaking with such confidence and openness, one can easily forget that Fowler is in his early 20s. He also readily admits he is still becoming who is. Cryptocurrency, he said, is a chance for Blacks and other ethnic groups to take that same faith leap into the future.
"For minorities, it's a chance to get involved with this on the ground floor," Fowler said in an interview with Front Runner New Jersey at his family's restaurant, Soul of the Sea, in Millville. "It's all about just diving into it and learning it. It's not just about crypto, but investment in general and knowing how to grow your money. Most people only know how to make it one way. We've been behind the trend for so long that we're used to it. This is about the ability to step out of your comfort zone."
Fowler touched a little about his involvement with other local entrepreneurs at a networking event last month at the restaurant. He said he started seriously learning about cryptocurrencies about a year ago while participating in an academy. That experience led him to starting an educational platform to teach others about cryptocurrency and investing.
Lesson No. 1: While cryptocurrencies and Bitcoin seem synonymous, there are other crypto options – many of them.
"Bitcoin is not the only currency out there," Fowler said. "There are some 1,000 coins out there. Most people have the misconception is when they hear about it, that's the time to get in, when it's just the opposite. We give you education about upcoming currencies that you should be on the lookout for and why. The question we should be asking is, 'What purpose does it serve as a service, or some type of utility, and stuff like that.'"
Fowler said while some currencies can cost just pennies to buy and may not look like much of an investment, he said potential buyers must purchase with some kind of vision in mind down the road.
"Bitcoin once sold for 50 cents per bitcoin," he said. "Now it's worth $68,000 per coin."
Lesson No. 2: Invest in cryptos with a gameplan and operate with an open mind.
"You need to do your homework and ask the important question of are you in this for the long-term or short-term because that will directly affect how you invest," Fowler said. "Anything that comes quickly, can go quickly. You need to understand that. If you're in it for a longer-term, you need to do some more to take advantage of staying in for a longer time.
"You have to come into this with an open mind with the intention of looking to grow just not in my finances but as a human being. Those are the few requirements I actually required for anybody to even learn any type of information from me. You need to be willing, be teachable and coachable."
Fowler said investing comes with a little bit of faith as well. That comes from his life growing up in a single-family home where tough times forced him to mature quickly and take on responsibilities and life skills at a young age.
"At 15-16 years old, I didn't have all the things I wanted, but I never wanted to ask my mom for anything because I knew we didn't have it in the first place," Fowler said. "I remember heating water on the stove and dumping it into the tub to take a hot bath. I remember piling up in one room to keep warm in the winter.
"I remember those things. I remember seeing my mom bawling her eyes out on the couch worrying how she's going to pay this and pay that. No young man wants to see his mother go through that. I was the middle child on both sides of the family. I had people looking up to me at that age. That was a lot of pressure but I also understand that diamonds are formed under pressure."
His father, Sam Fowler, was at the time trying to make it in the restaurant business. Fowler admitted he didn't see his father's work ethic at the time, but came to respect his grind and hustle, something he now embraces.
He takes that with him when he talks to people about patience with investing and overcoming the initial fear.
"Investing is not scary and investing is not hard but you have to work to understand it and apply yourself," Fowler said. "If you apply yourself, you know, you'll see results, but those that don't apply themselves don't get the same results most people get. Faith without works is dead."
At a young age, Fowler said he has learned the value of being the "dumbest person in the room." He said those positions often led to his greatest growth because he opened his mind up to absorbing, learning and putting into action what he captured from others in the same space.
"I was putting myself in uncomfortable positions where I will be the oddball and the ugly duckling," said Fowler, speaking with wisdom beyond his years. "But I love being that ugly duckling. By being the dumbest person in the room, you've put yourself in a position where you can learn, grow, understand life.
"Growing and understanding is all about excelling and moving forward. That's why they call us human beings because we learn we're meant to be something and keep becoming," he said.
Now Fowler wants to take others who may not feel like they are the smartest investors in the room and help them take the next step into cryptocurrencies and investing.
Question: Should More Blacks and Minorities Get Into Cryptocurrencies? Why of Why Not? Please comment in the Discussion section below.
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