In our fast-growing platform for improvisation called the world, even currencies have changed their course. Currencies have become digital. If like most other trends in Twitter, you do not understand what cryptocurrency is, this article is for you!
Digital currencies are called cryptocurrencies. The most common example of cryptocurrency is bitcoin. Almost all of us have heard about bitcoins in someplace or the other. Many students pursuing MBA or BBA have researched and wrote their dissertation papers on the modern use of cryptocurrency. There is still an active discussion going on. Students these days are lucky to have dissertation proposal help where they get expert guidance which helps them to score better. They can help you not only score better but also let you employ more time on other parts of the curriculum.
Students are making extremely wise choices for themselves these days and investing in crypto is one of them. But what is this cryptocurrency? How to use it? Are students advised to make investments? Let’s find out.
What is Cryptocurrency?
What
Cryptocurrency is a virtual currency which was first used in 2009. The first decentralized form of cryptocurrency was bitcoin. After that there were several other coins in use like litecoin, ripple, tether, libra, etc. Now we have over 6,700forms of cryptocurrency. Think of them as casino chips or arcade tokens if you like. You cannot fill your pockets with these but you can definitely fill your bank accounts. You can exchange real currency for cryptocurrency anytime you find it suitable.
How
Cryptocurrencies work through a technology called the blockchain, A blockchain is a decentralized technology which is spread across the computers to record your investments. The list of records is continuously growing as you are reading this article. This information is stored into blocks and is secured using cryptography. Blockchain records as well as manages all your transactions.
Where
As you know, currencies like Euros and Dollars are completely controlled by respective governments. But cryptocurrency is not at all controlled by any government. The central bank or any other bank for that matter cannot dominate cryptocurrency. So, currencies like bitcoin or litecoin do not follow the traditional baking system.
Why Use Cryptocurrency?
There are a number of advantages that come flying into your bank account if you invest in cryptocurrency. Technology makes our lives easier if we have proper education and the right senses. Some of the benefits you will get if you use cryptocurrency are noted below.
- With a touch, you can pay anywhere for anything you like.
- You do not need to worry about conversion when it comes to international payments.
- You pay almost nothing if you want to make a heavy transaction.
- There is no middle man interrupting the flow.
- You can pay more securely and the recorded transactions are more confidential.
Is It Safe for Students to Invest in Cryptocurrency?
One of the most important topics in this article is if cryptocurrency for students is a good option or if they would be serious about it. But first, let us talk about a guy from the UK. His name is Thomas Bloor. He is a student of Chemical Engineering at University College London, who one sunny morning decided to invest in Bitcoin. He had invested £3.5k in Bitcoin and now he has made £30,000 for himself. This not only cleared out his university debts but also opened a new path for his career.
However, on the other hand, there are also people who lose everything on bitcoin and other cryptocurrencies. Therefore, you should be careful before learning a lesson.
Here are a few things you should check if you’re searching for the right cryptocurrency, look for these signs:
- What were the graphs in previous years?
- What is the present value in the market? (Eg: 1 bitcoin= 40,276.50 USD)
- If you can actually afford it at ease. Even if you do not get huge returns, would it be of any loss? If yes, think again.
- Whatever app or device or website you’re using, is it trusted?
Final Words
Cryptocurrency for students is proving to be a good investment if and only if they are well informed about the process, many students have been helped build their career. Everything is useful if used with proper guidance and attention.
