To become wealthy, you don’t have to skip college altogether as some self-empowerment writers will have you believe. Investing in college education alone is indeed risky.
In this twenty-first century, change is going to be specific. This could be the age of upheaval and great fortunes made or lost in head snapping speeds depending on where you stand. In this article, I show how to create wealth by investing in cryptocurrencies while in college, to increase your earnings in three foundational strategies.
The age of Decentralization is here
The age of finance is ripe for significant change. Modern-day investment reached robust maturity in the industrial period and twentieth century. We now stand in the threshold of a new era. The age of decentralization and the uncertainty that comes with it. To exploit the opportunities in the cryptocurrency market as you study in college, here are some tips for you.
Read as much as you can find
The size of the cryptocurrency market today and the role it will play in future warrants a more significant public investment in education. To win big in this token-based economy, keeping your brain active and engaged in the cryptocurrency space is non-negotiable.
The cryptocurrency market is a new economic landscape, altering the fundamental ways people conduct business. Expand your existing knowledge of current affairs in the market to give an edge when identifying value, performance evaluation, and future outlook.
The advent of payment gateways (companies), for instance, links users of cryptocurrencies to fiat (national) currencies, acting as a gateway between traditional finance and blockchain value-transfer systems. What does this solve in the long run? One of the world’s most significant problems, banking barriers.
According to a study by the World Bank, roughly 59% of adults, 1.7 billion people living in the developing world don’t have access to a bank account. With Bitcoin and payment gateways, that could soon change. A significant geographic dispersion of cryptocurrency payment gateways could solve the problem of banking barriers, leveraging the tremendous growth of Bitcoin.
If you read about payment gateways and the World Bank report and made an investment, imagine the returns when Bitcoin starts to solve financial inclusion.
Recognize the Significance of Passive Income and save up to Invest
If you were to visit a financial planner today, the ‘the best advice’ they will offer you as a young investor is to save up for retirement. How do you find the funds to save up to invest? Perhaps you could provide the best college essay writing service and get paid in cryptocurrencies. Your investment will increase with time, and the pay-offs would be adequate for your retirement in the long run.
Considers this; on average, global non-cash transaction volumes are growing. It has fuelled the adoption of cryptocurrencies the world over. As of April 2017, the combined market value of all cryptocurrencies was $27 billion.
This, at the time, represented a level of value creation on the order of Silicon Valley success stories such as Airbnb. Today, the combined market value of the market is $120 billion. Well above the $120 billion valuations of Adobe Systems as of January 2018. Picture how much your investment would be valued at if you had invested when the market was valued at $27 billion.
Invest Strategically: Harness the Power of Compound Interest
Blockchain Technology is reshaping industries. For instance, cryptocurrencies such as Ripple (XRP) are disrupting cross-border payments like never before. Cross-border payments have a higher transactional value than intra-country payments. According to a study by the University of Cambridge, 46% of cross-border payments had an estimated transaction size between $100 and $1000 in 2017.
Clearly, a vast market opportunity awaits XRP. You could invest in XRP now and wait to ride the wave when financial institutions from around the world are prompted to re-engineer their systems and value propositions.
Your focus should be on identifying and exploiting such critical opportunities in the market and leverage the growth-on-growth effect. Compound interest not only makes savings easier but also far more effective.
To Sum Up
These arguments provide the foundation for this article. The purpose of this article is to describe how you can invest in cryptocurrencies for wealth creation. Given this discussion, I suggest that the developments within the Bitcoin ecosystem and competitions within the markets may have an impact on the future success of this technology.