Experts predict cryptocurrencies might soon revolutionize most industries. They consider it a transformative technology that provides a more secure way of transacting in business. Although they remain highly speculative, many people hope they will eventually gain mainstream usage.
Many college students today are experiencing financial difficulties. They seek every available opportunity to make an investment and gain a profit. One of the options they go for is investing in cryptocurrencies. Experts consider it the best option due to various factors.
Blockchain is a transformative technology
The technology behind cryptocurrencies is blockchain. It has a high potential for changing a lot of industries globally. Many sectors, such as healthcare, shipping, and banking, are beginning to adopt the technology. It will help eliminate intermediaries and usher in economic activities that were only a dream before.
Many economic experts believe cryptocurrencies are the future digital currencies. Analysts predict the value of cryptocurrencies globally will be $5 billion by 2030. Anyone buying cryptocurrencies currently has a big potential to make high returns in the future. Although students may consider buying on a speculative basis, buying for the future could be a better option.
The crypto market is not complicated, but it requires a certain set of skills. It might take time to learn the tricks or become conversant with the rules. Students have compacted study schedules which makes it tricky to learn cryptocurrency. It is rewarding to pay someone to do your assignment and create time to learn the crypto market. Edubirdie qualified writers offer professional help to all students worldwide. They have vast research and writing skills, which help them create customized academic papers.
A cryptocurrency is a viable option for speculation
In the greater part of the first half of 2022, most cryptocurrencies recorded a loss. The current price of Bitcoin is 22,989 USD, down from over $64,000 in the same period in 2021. A student doesn’t need to buy a full Bitcoin, but they can buy a fraction at as low as 0.00001 BTC. That means a student can buy Bitcoin at $23 based on the current price.
Experts say the steep fall of cryptocurrencies is due to the current sharp inflation experienced globally. Cryptocurrencies are not directly affected by inflation per se. However, first-time investors use traditional currencies to buy them. Rising inflation means buyers will likely have limited money to buy them.
They predict the price will rise within the second half of 2022. Specifically, Bitcoin is expected to rise to close to $100,000 within a year. The falling price is an opportunity for students to buy for speculation. They might make attractive profits within the next six months.
Cryptocurrencies are stable currencies
Crypto is decentralized, meaning they are not controlled by one central place. Investors in cryptocurrencies deal directly with one another through virtual markets. Decentralization makes the crypto market a stable investment option. It doesn’t depend on influence from the government, but its influence is purely based on the laws of supply versus demand.
This gives students a good reason to consider investing in cryptocurrencies. As of June 2022, there were more than 19,000 cryptocurrencies. They trade on several dozens of blockchain platforms, and the technology is consistently growing. Compared to traditional currencies, cryptocurrencies provide students with unlimited options. They can trade with any currency they choose as long as it will give them profits.
It is easy to trade in cryptocurrencies
Data released in early 2022 show students constitute at least 15 to 20% of all cryptocurrency traders. By the end of 2021, between 400 to 500% of all crypto trades were done by students. Another recent report by Intelligent shows that 41% of students have invested at least $10,000 from their college funds. They manage to achieve this due to the simplicity of trading in cryptocurrencies.
A student is only required to have some knowledge of how the market works. They only require a small amount of money to get started. With the right platform or broker, it takes a few minutes to open an account and begin to trade. They may choose to let a broker trade on their behalf and focus their time on education.
Investing in cryptocurrencies while in college is a good option due to various reasons. Blockchain technology is growing fast and has been adopted by many industries. Cryptocurrency is a transformative technology that is destined to change many industries. Based on the current bearish prices, it is a good option for speculation. Cryptocurrencies operate on decentralized systems, which make them stable currencies. It is easy to trade in the crypto market, and a student doesn’t require any experience.
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