It doesn’t take a genius to know that the cryptocurrency ecosystem is here to stay. Studying traditional forms of banking and finance hoping that bitcoin, ethereum, dogecoin, and Cardano will one day disappear to oblivion is lying to yourself.
Instead of ignoring the crypto sphere, we suggest that finance students ought to reframe their thought process. In fact, they need to come up with innovative solutions built within the crypto ecosystem.
Moreover, the most crucial thing that you can do as a finance student is learning as much as possible. You need to learn about blockchain technology. cryptocurrencies, nfts, defi, tokes, etc. You’ll also need to learn how you can apply this knowledge with your overall finance class knowledge. This enables you to come up with new crypto solutions to problems faced within the financial industry.
Sadly a number of finance professors have led us to believe that the cryptocurrency market is a bubble. They also go on to falsely claim that is about to pop every time there is a bear market.
However, most of these concerns are not backed by any solid facts and it is just speculation. Therefore you as a finance student you need to research this field deeply and make your own personal conclusion. You need to justify whether the blockchain is here to stay or whether it’s just a passing fad.
We here at tecnalite believe that cryptocurrencies are the future of internet transactions. It is our belief that they will bring about a shift in global economics as well as social change. We look forward to transacting with you on this new technology and growing together. Kindly join us as we explore unchartered territory in this new frontier of finance.
How to invest in the cryptocurrency market as a student (TIPS)
1 DON’T BE AFRAID OF FAILING
The crypto ecosystems may appear confusing and very murky from afar. However, this doesn’t mean that it does not have a bunch of untapped opportunities. What you see as confusing might prevent you from seeing the opportunity that is staring you direct at your face. Paul brothers may appear as YouTubers who don’t know anything about finance but their appetite for crypto earned them millions. This is what happens when you do not let fear overpower you. Therefore, as a finance student reading this let this article reaffirm your desire to succeed. Let this destroy your fear of failure.
2. Identify the worst-case scenario
As a finance student, you are taught to look at things on the basis of strength, weakness, opportunity, and threat. These are always beneficial but sometimes this overthinking can make you hold back when in reality the real reward comes from action and not inaction. When you are about to make a move in the crypto ecosystem you need to ask yourself what the worst that can happen is and what is that possibility of that happening. Once you weigh in your options you will see the moves that you can make and the opportunities that exist.
3. Stop waiting for the right time
There is no such thing as the right time it’s always now or never timing only applies to competitive sports and sometimes in sports spontaneity can change the entire course of the game. The same applies in the cryptocurrency sphere the market is so volatile and an instantaneous decision can change your entire life ask the Winklevoss twins (Tyler and Cameron Winklevoss) about how their appetite for risk made them billionaires.
4. Divide your interests in different cryptocurrencies into manageable clusters
The number of cryptocurrencies in the market is vast and you may feel that look into all of them is an exercise in futility. However, always remember that the great wall of china was built brick by brick and that is how you need to approach cryptocurrencies. You need to look at them one by sorting them based on whatever criteria you feel is applicable. Some people look at the founder’s other people look at the pricing against the market cap others look as their utility and others just wing it.
As a finance student, I do not expect you to wing it. I expect you to come up with a quick and creative hybrid evaluation technique that will inform you on which currencies and projects look promising and which ones are trash and which ones are HOT trash. By hot trash, I mean which projects can make you a lot of money in the short term but you know that they have no future.
Scholarship opportunities for students
5. Ensure that your projections and estimations are realistic
Saying that you’ll invest 10 usd and make 1000 usd in one year is nothing but a pipe dream. As a finance student making such a crazy estimation should warrant you getting suspended. If you do such a thing you will invest your money for a month and withdraw it and write a tweet claiming that the cryptocurrency market is a scam and you will not be able to follow through with the opportunities available within this space. Having a crazy target is not bad in the crypto-verse because insane things have happened over recent history.
6. Make a small purchase within the cryptocurrency market
Buy 10 USD worth of ethereum or any other currency and this can trigger your inquisitiveness to learn more. A majority of successful crypto traders started out as inquisitive speculators. They just bought some bitcoin with no intention of buying again. However, this little action enabled them to learn how the ecosystem operates. They have been able to navigate through the ups and downs and a number of them have made significant wins.
Therefore, if you are a little skeptical about cryptocurrencies, nfts, defi tokens and the likes I implore you to make a small purchase and learn the ropes first before becoming dismissive. Don’t let the crypto train take off without you especially you as a finance student. Don’t let technology make you obsolete and you could have been part of this crazy time in history where the financial system was slightly improved by the internet.
As the Chinese proverb says a journey of a thousand miles starts with one step: It is up to you as a finance student to make that leap and move in a smart manner and maybe you will be the next great innovator we will be reading about on Forbes. NOW GO AND BE GREAT!!