Cryptocurrency, in simple terms, refers to the digital or online payment system that does not rely on any third-party organization. There are many coins available that people can buy off of crypto exchanges, for example, Bitcoin, Ethereum, and Dogecoin.
Cryptocurrency has been a slow and steady burn for the boomers and millennials. However, Gen Z has accepted this new phenomenon wholeheartedly. Ever since its inception in 2009 – Bitcoin and other popular cryptocurrencies have been at the disposal of the young generation.
Especially students – as they can juggle their degrees with treading crypto as a side hustle. Taking the conversation forward, here are five reasons how students can benefit from cryptocurrency.
1. Their data is secure
In earlier times, people used to be particular about the security of their property, etc., but now times move forward – people are scared of their privacy getting breached on the Internet.
Especially, as students rely heavily on public WIFI and other facilities, there is always a chance of someone getting access to their private information or payment credentials.
However, with cryptocurrency – whether you are doing something as complicated as you buy Dogecoin or order some ramen, the payment details will be kept safe.
2. They can save time
We all know how essays and assignments can take the best of you. Most students are always running behind schedule while juggling a hundred different things in a day.
In all this mess, there is no time left to go to banks to open a bank account. This is where cryptocurrency comes in – students can do end-to-end transactions that are totally encrypted while just clicking a few buttons on their phones or computers.
Therefore, cryptocurrency saves their time and effort so they can utilize it somewhere else.
3. They learn about new technology and make money.
Technology is the new gold of this generation. This industry is growing by leaps and bounds with a very secure future. And because of this reason, students are more open to learning new skills.
Cryptocurrency is helping them learn something out of the box. As students start earning while studying, they do not have to struggle after graduation in pursuit of a job.
There are plenty of skills that are required to be successful at trading cryptocurrency. Therefore, in the process of earning money – the students get to learn skills like coding, negotiation, etc.
As the market value of cryptocurrency increases, students can use this knowledge to get jobs in the market. On the other hand, taking forward the spirit of entrepreneurship, students can build their own business using this experience. For example, many websites that let you create courses and pay you as people buy the lessons.
4. They can acquire an asset
Owning an asset in current times where inflation is through the roof can be challenging for students. For example, very few people can afford a house or gold in their early 20s.
On the other hand, students feel a sense of ease in acquiring cryptocurrency as an asset. Even if they cannot get their hands on Bitcoin or Ethereum, they can buy other altcoins like Ethereum or Dogecoin.
As the value of these coins soars, students can take their profits and invest them somewhere else or buy more coins.
5. They can break away from the rigid banking system.
How many times have you waited at the bank to get a tiny piece of work done? Yes, there have been many times that students have been through this trouble.
On the flip side, cryptocurrency takes less than a second to make any transaction anywhere in the world. Now that so many more companies are accepting crypto as a payment option, students can avoid transaction fees and save time while using their crypto wallets.
To sum it all up
Students have plenty of tasks on their plates: assignments and essays piling up with student debt hanging over their heads. It all can be overwhelming, especially when they have to deal with the rigid banking system and waste hours trying to do a simple task at the bank.
In this regard, cryptocurrency is like a knight in shining armpit for them. While giving students an easy way to make quick cash, cryptocurrency also allows them to save money and time while doing transactions.
Similarly, as they learn to use crypto chains and trading, there are so many new things students can benefit from while also being able to make money.
And finally, students can escape the rigid banking system and find a way to earn money quickly so they can pay off their student debt in time as the cryptocurrency market will undoubtedly continue to soar.