Money is not an object, and the current financial landscape proves this over and over again. With the development and evolution of cryptocurrency in recent years, this statement is looking even truer. Many individuals of diverse age ranges and groups are moving in the direction of this new wave, and students are not left out.
But what makes it so attractive, and how does it affect the work of students showing interest and investing in it? Read on to understand better.
Why There Are Successes and Failures in the Work of Students with Cryptocurrency
Suppose there is any other advantage that cryptocurrency has over traditional systems of money, it will be volatility. In this case, the volatility makes students profit much more than they would benefit from stocks and other investment types.
In recent and new surveys, student interest in crypto has developed rapidly in recent years. More than 5% of students have invested in cryptocurrency schemes, and many others have considered it.
Why is there such a high interest in this, though?
Apart from the fact that it yields high returns, the lack of financial power (which grew during and after the pandemic) among students is a preeminent factor. The unstable job market, which is a cause of a reduction of earning power with many parents, and low maintenance loans are all factors that have pushed both young and old towards the cryptocurrency option.
Its profitability is a very attractive factor. One example is the most popular cryptocurrency, Bitcoin, which made more than a 5000% increase in a few years. At one point, it had a market capitalization of 850 billion dollars and was primed to go almost double. What else can be more attractive?
When students increase their earning power, they can focus more on their academics and even ease off some of the workloads they get during semesters by getting help with assignments (or buying paper online) which frees up more time to do much more important things. They can also find the time and money to invest in extracurriculars and build a much more fulfilling lifestyle.
However, this advantage is not without its risks. Many students are only blinded by the perceived benefits and are not seeing the risks involved in engaging in this venture.
For instance, the crypto market volatility makes for constant monitoring, which can distract a student during important school periods. If there is anything a student should avoid during school, they are distractions. Therefore, it is no surprise that many students are amassing poor grades while engaging in cryptocurrency activities. It becomes the main “thing” instead of one of those “things” for a student.
Also, the future of cryptocurrency seems unclear at the moment. While certain countries are accepting this currency form and adopting it as legal tender (El Salvador and Argentina), some others (China) and multinational corporations are trying to slow down its adoption and regularization. Also, the use of crypto is endangering the earth.
Crypto entails numerous high-level calculations, which result in the release of high amounts of energy, sometimes on a scale equal to the use of a country’s. Hence, one wonders if there will ever be harmony on this subject.
How does this affect students?
Students will keep turning in poor work due to a shift in focus – they give all their time to their investments and take their foot off the gas of their academics. With the way things are going, they might have no future if cryptocurrency does not live up to the hype. This will make them lose on two fronts; having to live with the consequences of poor grades and losing their investments (both time and monetary wise).
The reasons for the successes and failures of the works of students with cryptocurrency are not a lot, but they are far-reaching and could affect a lot more than just the students’ future. Of course, they might be open to buying papers online to complete assignments online and meet deadlines.
But then, if the future does not include cryptocurrency, it’s safe to say they will buy papers online afterwards. Chase your cryptocurrency dreams, but do not give them up at the cost of your education; they can co-exist.