Should students invest in bitcoins?
The education system has taught various subjects to the students since early on in their lives. The one thing the education system has not been able to assist the students in is how to use their money. Most students earn quite an amount from their side hustle. We barely save; because we are looking forward to a time when all their costs will be covered by the one, huge paycheck they will receive every month after they land that magnificent job.
The reality is quite dire. If and only if this mindset was done away with, students would realize that even their earnings from the side hustles could be transformed into an asset of a significant amount. The total ignorance in the field of investment has led to this predicament.
There are various scopes of investment. People may invest in fixed deposits, recurring deposits, real estates, and even cryptocurrencies like Bitcoins.
Ways to invest
While investing as students, most of us forget that our earning is limited. Here are some ways in which you can keep your money safe while multiplying them.
- Do not invest too much all at one go. Make small investments. Even though there are few places where the returns are almost guaranteed, it is advisable to keep a check on the amount we are spending.
- Invest over time. Spending a lot of money all at once and losing it way too painful. Instead, invest in little amounts. Take a bet, see how the money operates, what prospects it has, and invest again. This helps as a shock relief. We would know that we always had it coming.
- Do not take action under the influence of greed. There will always be an option to earn more money. Taking risks is one thing, being greedy and going out of your way to get the more lucrative option is quite another. Judge the options properly. Do not give in to greed or other emotions which are not reason or logic based.
Why should students invest in cryptocurrency?
There has been a lot of awareness regarding cryptocurrencies like Bitcoin across the world. Today’s students are well aware of the things going on around them. Instead of squandering away our money, investing in Cryptocurrency could be a life changing financial decision very early on in life.
- As a student, we mostly do not have enough money to make committed consistent investments, as would be the case in recurring deposits. We do not have enough money to invest in real estate either. The only possible investment we can do with the little money we procure monthly is to invest in a fraction of the Cryptocurrency available in the market. Bitcoin is the most popular Cryptocurrency.
- The fact that the market forces have no effect on Bitcoins, makes it a very reliable cryptocurrency. Its value is solely dependent on the number of investors. The rarer it gets, its value increases the more. This makes Bitcoin a very sought after Cryptocurrency as well as a good investment.
- With all the applications available, investing in Bitcoins becomes a cakewalk. One may look up the bitcoin trading to take a plunge into the investment world. The application takes care of all your needs based on the choices you make. It will channel your money in the right direction and keep you updated with the movement of the crypto market.
- When you invest in Bitcoins, you are autonomous. There is no involvement of any other financial institution. Bitcoin has its perks owing to its decentralization.
Hence, students would benefit from investing in Bitcoins. Even though they do not have a steady income in the present situation, making small investments would be a large step towards financial security. However, it is imperative to dip your toe in the water before taking a dive. Make yourself aware of all the complexities regarding the crypt market before making a decision.