London, UK, 4 Sep 2021, ZEXPRWIRE – The number of students turning to cryptocurrency trading is rising, with some earning thousands in profits while still at university.
The student finance dilemma has been a hot topic over the last few years, but things are looking up for future graduates as more and more are turning to crypto investing. So, what are the benefits of making money through cryptocurrencies?
TrueNorthBit broker, Richard Walton, says for students, the biggest benefit is likely to be freedom. Life as a student can be difficult due to a lack of financial means, and this means it is hard for them to enjoy their lives as much as they would want to. Cryptocurrencies can give students a certain amount of financial freedom, which allows them to live without worrying about money. This can make it much easier for students to focus on what they want out of life, i.e., academic success, without worrying about their financial problems.
The second big benefit is security. Because cryptocurrencies are based online, the risk of theft (or loss) is significantly reduced compared with traditional fiat currencies like pounds or dollars. This means that students who invest in cryptocurrencies don’t need to worry about having money stolen from them.
The final benefit is diversity. There are now more than 1,500 different types of cryptocurrency that students can trade with, which means a much greater opportunity for investing than other markets such as stocks or commodities.
There are also some risks associated with cryptocurrency investing, but they are fairly small for the most part.
It is always a concern that students will invest in cryptocurrencies and then lose their money to hackers or other criminals. However, whilst this is possible, it only takes one winning trade to make up for all of your previous losses!
Which Cryptocurrency Should Students Invest in?
Choosing the right cryptocurrency to invest in is essential because this will be key in deciding your success. There are many different cryptocurrencies to choose from, and understanding them can be difficult at first.
Perhaps the easiest cryptocurrency for students to use would be Bitcoin (BTC). This was the first-ever cryptocurrency which means that it benefits from a high level of trust, which is usually difficult for new cryptocurrencies to achieve.
Using Bitcoin allows students to make use of the huge range of exchanges that are available online. These exchanges allow you to buy and sell Bitcoins using different currencies, making it simple for students studying abroad or internationally to access these markets.
For those looking for something a little different, there are other cryptocurrencies worth checking out.
Ethereum (ETH) is a good one for students looking to invest in the long-term because it has some very beneficial features which allow for more advanced trading. These include smart contracts and decentralized apps, allowing you to develop new using the Ethereum blockchain. Ethereum also benefits from allowing users to create their own tokens, which means huge growth potential.
Cordano: The New Kid on the Blockchain
The newest kid on the block is Cordano – a relatively unknown cryptocurrency that literally shot up in value by over 200% in less than 24 hours! What’s more, it hasn’t stopped going up since then. This makes it a fantastic investment opportunity for anyone looking to get involved with cryptocurrencies for the first time. Cordano uses a special technology called Ouroboros, which can verify transactions using mathematical proof. This makes it incredibly secure, and, unlike some other cryptocurrencies, there is no scaling risk with Cordano. This is because the system can produce more blocks at any time without any lag or downtime.
Dogecoin: Taking Cryptocurrency Mainstream
Another cryptocurrency that is rising in popularity is Dogecoin (DOGE). This was developed as a joke and started life as a meme, but it has since become one of the most popular cryptocurrencies around. One benefit of Dogecoin is that transactions take very little time to complete, making it perfect for students looking to send money overseas.
Dogecoin was also the first cryptocurrency to reach a market cap of over $2 billion; this makes it one of the most valuable cryptocurrencies around at the moment and a great choice if you’re looking for a long-term investment.
Why Invest in Cryptocurrencies?
One reason why students are turning to cryptocurrencies is because of the returns. Whilst investing in stocks or forex may not be as profitable at this point, crypto offers a huge potential for growth which you will find nowhere else.
You might also be interested in buying cryptocurrencies if you are concerned about currency fluctuations and want to hedge against inflation. This could be a good investment for students studying abroad and looking to protect themselves against currency fluctuations in their home country.
The Future of Cryptocurrency Investing for Students
Cryptocurrency is still quite new, and many doubt that it will continue to grow. However, with the financial market becoming more digital by the day, it is clear that cryptocurrencies will become increasingly common. For this reason, they represent a great opportunity for students who want to make some money whilst studying.
It can be difficult to find the best cryptocurrency to invest in, but it is worth taking your time. After all, if you want to benefit from this financial revolution, you need to pick the right investment!
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.