Daniel Hendry, aged 16 and from Langley Park, joined the cryptocurrency craze after seeing stories of early investors making millions from investing in Bitcoin – the most widespread cryptocurrency at the moment – and has made £5,000 through his efforts.

Daniel believes that the digital asset is the future of currency and wants to encourage other children his age to “see the world of cryptocurrency”– while also bringing attention to scams, and dispelling rumours surrounding it.

Daniel said: “I got into cryptocurrency by seeing stories of the early investors making thousands – even millions – just by buying bitcoin. I then realised there can be some serious money to be made in the crypto scene.

“I invested in bitcoin in March 2020 and then within one year Bitcoin had a 729 per cent increase in price. This is when I started to see the potential of Bitcoin.

“The best tips and warnings I can give to people getting into cryptocurrency is to do as much research into it as you can before investing into it and don’t send any of your cryptocurrency to anyone you don’t know as once you have sent it you won’t be able to get it back.

He added: “Many people believe that cryptocurrency is only used for criminal activities but only 2.1 per cent of cryptocurrency transactions are actually used for criminal activity which is a lot less than any other currency.

“I think cryptocurrency should be taught in schools because there are dangers to it and it is important people are well informed about what this is as it keeps growing more every day.

• READ MORE: Martin Lewis on Bitcoin: Can you make money and is it safe?

“I see myself staying in cryptocurrency for the rest of my life considering how successful I have been already from it.

“The older generation should know that cryptocurrency is safe as long as you do enough research and understand what you are getting into."

• What is Bitcoin and how does it work?

Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual.

It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.

• Is it safe?

Martin Lewis said on The Martin Lewis Money Show: "Bitcoin is set up as a currency – a non-governmental currency – so you're meant to be able to spend it, but I'm presuming you're thinking of this not to spend but more as an investment, which is what most people are looking at.

"First of all, is it safe? Well, some people have lost money in their wallets. Like gold it can be stolen, and cryptocurrency is a bit like an equivalent to gold as it's a store of value of what people are putting in. You have to be very careful."

• Can I make money investing in Bitcoin

While Bitcoin's value has recently soared to around £30,000, its value is extremely volatile and it has dropped to as low as around £300 in the past – so you shouldn't invest if you can't afford to lose the cash.

Martin said on The Martin Lewis Money Show: "As to whether it's any good – I don't talk about investing. The thing about investing – and Bitcoin is an investment – is that prices go up and prices go down. With Bitcoin, they go up massively and they go down massively. And the reason for stressing that so much is that you can make a fortune, but you may lose a fortune.

"So if you can't afford to lose the money that you put in, then do not invest in it. It's a gamble, like all forms of stocks and shares, and all forms of investment and putting money in gold. That's your choice, but if you do it the right way the investment should work for you, but it doesn't mean you won't lose money though."

• Bitcoin scams

Martin said on TV: "You'll have seen adverts with me in for Bitcoin or Bitcoin trading. They are not Bitcoin, they are scams – don't touch them – if you see my face in an advert it's not true. Be incredibly careful to do your research and go for a legitimate source if you want your Bitcoin."