Let’s forget about the prices for a minute, and focus on the aspect that over 120 universities have started accepting cryptocurrency as payment. It is a big deal.
The reason it matters is that it is going to be the next generation of workers who will know about cryptocurrencies in school. It means they will be more familiar with crypto than generations before them, making them much more likely to adopt cryptocurrencies in their everyday lives. It can lead to increased cryptocurrency usage, which can cause even more universities to start accepting crypto as payment. It is a pretty cool cycle, and I hope it happens!
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The Rise of Cryptos in College
It is no secret that cryptos are becoming more popular in colleges. A recent study has found that a third of students are evaluating “why should I buy DOT or any crypto?” It is a great start to a journey to culminate toward finally joining the trend.
But what is driving this trend? It is a combination of the rise of blockchain technology and the availability of coins to trade through exchanges. This trend is mirrored in the real world as well. For example, many people think that blockchain technologies will become as ubiquitous as the internet. If you are interested in purchasing crypto assets yourself but do not know where to start, check out this article on how to find the best cryptocurrency exchange for your needs!
Students at university can take advantage of cryptocurrencies in many ways. These include:
- Paying for tuition, fees, and dormitories
- Paying for rent in off-campus student housing
- Paying for food, travel, and other expenses (e.g., cellphone bills, shopping, and entertainment)
- Buying furniture
Students can even pay for college with cryptocurrency.
Why Are Students Buying Cryptos in College?
If you are a college student, you might be wondering:
- Why should I buy cryptocurrency?
- How to buy Polkadot?
- How to buy DOT, Bitcoin, Ethereum, or other cryptos?
There are many reasons for people get into cryptocurrency. College is a time in your life when you have the freedom and flexibility to explore new ideas and concepts that interest you. Cryptocurrency fits perfectly into this format because it is relatively new and still poorly understood by most people.
The above translates to the availability of tons of things for you to learn that no one else has learned yet! Learning about cryptocurrency can help set you apart from other job candidates after graduation because it shows an interest in the future of technology, which is becoming more important every day.
It’s also fun, and you will find yourself excited by all of the possibilities offered by blockchain technology and its potential impact on society. So how do we get started?
How to Buy Cryptocurrencies as a College Student?
You must always buy cryptocurrency from a reputable seller. It’s also important to make sure the crypto you are buying is widely accepted.
There are two main ways to buy cryptocurrencies: through an exchange or a broker. An exchange is a market where people can trade cryptocurrencies with each other, and the broker receives some of the profit from those trades. A broker buys and sells crypto for you, usually for higher fees than using an exchange.
You should use a debit card when purchasing cryptocurrency rather than your credit card. It will ensure that you don’t get into debt trying to afford your new investments!
Once you have read some reviews and decided what type of coin or token you would like to try out yourself, it is time to find an online retailer or website where that will sell them directly and not just accept them as payment but give away their stock.
A quick guide on buying cryptos for college students
To buy cryptos, you will need to select an exchange where you will exchange your fiat currency for the crypto of your choice. After finding a cryptocurrency exchange that accepts your fiat currency, follow these steps:
Fund your account with fiat money. Social media sharing tools allow users to invest in cryptocurrencies by linking their bank accounts or even credit cards directly to the platform and making a transfer or purchase there. Other exchanges have different rules. Although a few accept credit cards, college students should use a bank account when funding an exchange because of potential fees related to using other payment methods.
Choose which crypto you want to buy (and how many!). Bitcoin is the most popular cryptocurrency by far, but it’s worth researching other options. If you are interested in investing smaller sums, your best bet is probably Etherium or Litecoin; both are easier and cheaper than bitcoin, thanks to their shorter transaction times and lower fees.
What Are They Using It For?
You may be wondering why college students are interested in buying cryptocurrencies. The biggest thing that draws them to it is the possibility of making money. Everyone loves making money, and there is a chance they could make a lot if they buy cryptos at the right time and then sell them later.
They also like that crypto investing can happen online with relative ease and privacy (a rare commodity in the age of social media). It provides a way for people to take control of their finances instead of having someone else do it for them (like parents, who are often more conservative about investments).
It is important to note that buying cryptos is not as simple as investing in stocks or bonds, which can get done with just a few clicks on an online brokerage website. Cryptocurrencies do not have centralized institutions like banks behind them – instead, users rely on a technology known as the blockchain.
Students have a lot of reasons to invest in cryptocurrencies. You can have fun turning your extra $20 into your monthly Netflix subscription fee, or you can get serious about turning a big profit if holding over the long-term. Cryptocurrency investment is also valuable for education and building skills that will help students prepare for our increasingly digital future.
If you are ready to jump on in, remember: buy cryptos early, buy them often.