There has been a new craze of cryptocurrency. A non-gold standard founded nearly a decade ago and has over time shown it could dominate future economies. The leading cryptocurrency is Bitcoin that has risen in value by over 1000% in 2017 alone. This technology that has not been backed by gold or regulated by government institutions like cryptocurrency has revolutionized e-commerce and created a new investment opportunity for some people. Some notable people in the business world have dismissed the technology, but it has continuously broken records and has been at an all-time high. Though occasionally it collapses, and some investors lose money, bitcoin has earned revenue for many speculators and its prominence has caught the eyes of few college students. Kyle Winstanley is one of the students who have been infected by this bug. He has logged over 2000 hours reading and researching on cryptocurrency and he has invested in it. In about four months, his $200 investment had reached $7000 and he shows no signs of slowing down. Momentarily, he has shelved the idea of finishing his education and with few of his friends he wants to invest more by turning his room to a trading room. In the recent past, more college student have taken Winstanley`s route and dropped their studies to grab the opportunities presented by cryptocurrency.
Supplements one’s Income
The business helps students to supplement their income. Sometimes the bachelor’s degree that suits your needs is demanding and your income level is low thus the temptation to generate more income whilst in school is inevitable. According to academic bloggers from Essay Zoo, more students are caught up by the crypto craze and take up cryptocurrency trading instead of pursuing their bachelor’s degree. They dedicate a lot of resources and time to their investments. They form groups and forums to discuss on how to maximize their returns from this technology and some have gone steps further and dropped out of school to tap into the purported returns promised by bitcoin.
Give them the chance to be part of a revolutionary tech innovation
Bitcoin is a new technology that is very promising and likely to revolutionize the finance sector. Bitcoin is not regulated by any institution and has performed very well since its inception showing its ability to take on replace fiat currency. Most millennials who are in college and they really need to evaluate their decisions regarding their future and the decades to come. Some people might argue that they will diversify and get into other businesses and stock options. Those who have successfully diversified their options in stock trading from bitcoin and have made a living out of it. Thus, those who dare to take this route must have a well-thought-out plan of which option can guarantee their later years. Some analysts and economists have dismissed the cryptocurrency technology, especially bitcoin as bubble and a scam that would lead to loss of property and investment value. Thus, they must live with this fact and understand that however unlikely their predictions are, they just may be true and a person ought to have a way out if confronted by that unfortunate turn of events.
Offers them experience of how business at corporate level is carried out
Trading has far reaching significance of the lives of the students who take it up and dedicate their time to it. Trading give students experience of how business at the top-level companies is carried out and how it influences their lives. They therefore gain experience of how to make money by strategic investment such that they become their own bosses. They get to experience how money markets operate and how they can make money out of them. In the end, their college degrees might not give them the financial freedom they need whilst in employment but understanding trading they can achieve their goals. Bitcoin can also open the minds of students to the possibilities of the stock market if they do it in school. The stock market has great potential on how to amass wealth and those who delve into bitcoin can take a lesson or two regarding how stock options work. These invaluable lessons can go a long way into their future in making investment decisions and diversify their income.
Could be an unwise decision bearing in mind it is unverified
Dropping your education goals to dedicate your efforts to an unverified financial system that promises huge returns is not a very wise decision. Analysts have labelled cryptocurrency a bubble and a scam and it could turn out to be one. At that point you will have lost a lot of resources and wasted time pegging your future on a Ponzi scheme. It will be a regrettable decision they will have made for neglecting education to chase money. They will not recover the money they had invested in the scheme and other resources. Rejoining school at a later date has its challenges that they must face and the labour market is selective and thus they may be axed for seeking entry level jobs at an old age. Much is at stake for their future carers if they decide to drop their education endeavours and pursue the opportunities presented by Bitcoin. Additionally, their friends who ignored the crypto craze will have found settling careers and built their lives while you struggle to find papers to seek employment. Their careers will have blossomed and you will be at square one with more responsibilities and less time.
The threat of other cryptocurrencies is growing
Bitcoins is not the only available cryptocurrency and other more powerful and realistic versions of the technology are being produced each day. Bitcoin is continually losing market share as the leading cryptocurrency and eventually it might be replaced by other cryptocurrencies. This casts a shadow on investing only on the Bitcoin as it is likely that it is not the future but the upcoming versions of the same. It is still a new technology and it hasn’t yet shown dependable trends that can be used to predict its future or value and thus it is a very risky option to trade for your education.
Concisely, there is undoubtedly some great potential presented by bitcoin and as a student, you can reap its benefit. We can criticize your reasons for abandoning education and pursuing the opportunities presented by bitcoin and other stock options but at the end of the day, there is undoubtedly some rewards that can back them. Some of the great tech moguls who have amassed billions of dollars by riding on technological innovations today have no regrets for dropping college educations. Thus, these opportunities are worth the chase but each student opting for them must have their fingers crossed that the system works in their favour. The most important decision is to weigh the pros and cons of your decision against the aforementioned reasons and make an informed choice.