It can seem like crypto is everywhere with all the fresh stories and hashtags that are appearing almost everyday! Its popularity is growing, which cannot be disputed. Actually, one-third of UK students plan to purchase Bitcoin, and a quarter of them already own it. (dissertationproposal.co.uk, 2022)
Nearly everyone is talking about what Bitcoin is, who created it, and how it can be used these days. Many professional assignment writers UK based have produced university assignments on Bitcoin. As with any other topic, this one too takes extensive research and analysis.
Frighteningly, 72% of students believe they know too little about cryptocurrencies. It’s crucial that university and college support staff believe they comprehend cryptocurrency trading and are prepared to speak with students about it because there is a financial risk involved. They should also stay current on cryptocurrency news.
Here is everything support staff need to know, starting with a brief explanation of what cryptocurrency is and how to purchase it, as well as:
What Draws Young People To Cryptocurrencies
How students are attempting to use cryptocurrency for profit
- the risks to pupils
- How to read a bank statement for bitcoin trading by staff
- What can be done to ensure that students who wish to utilise cryptocurrencies do so safely?
Why Does Cryptocurrency Attract Young People?
With 24% of students already owning cryptocurrencies and 1 in 3 wanting to purchase within the next three months, cryptocurrency is the second most popular way for adults in the UK to acquire “fast cash.” More information about the usage of cryptocurrencies by young people may be found here.
In schools, operations management is becoming more and more common. Students are offered a variety of operations management assignment help in UK, USA, Australia, and other nations.
When we questioned our staff community if they had noticed a rise in the presence of cryptocurrencies in students’ bank statements during fund applications, 72% of them replied yes.
1. Kraken
One of the first Bitcoin exchanges, Kraken offers cheap exchange fees and supports trading and buying of more than 120 different coins. It is noteworthy because it supports both spot trading at current market rates and cryptocurrency futures.
For those searching for minimal trading costs and access to a variety of cryptocurrencies, both new and seasoned cryptocurrency investors and traders can consider Kraken.
You might like Kraken or Kraken Pro depending on your bitcoin and trading background. There is a platform available for everyone, from novices to specialists, in either scenario.
2. BlockFi
BlockFi provides cryptocurrency investors with institutional-quality financial services. Everything they do, including their customer service and goods, is based on tried-and-true procedures to deliver a superior experience.( Miśkiewicz. 2022)
Your default account is your BlockFi Wallet. Without any rehypothecation on the back end, BlockFi Wallet is a non-interest-bearing account that enables you to quickly buy, sell, store, and protect your cryptoassets and stablecoins.
You have the opportunity to earn extra cryptocurrency while holding it for long-term cryptocurrency wealth creation with the BlockFi Interest Account (BIA)*. The potential earnings of long-term account holders are greatly increased by the compound monthly payment of cryptocurrency interest.
With a BlockFi loan, you can get USD to your bank account while using cryptoassets as security. Without having to sell your cryptoassets outright, borrowing against them is a terrific option to give liquidity now.
Trading between your various assets on the BlockFi platform is simple with BlockFi Trading. The best thing is that trading allows you to earn compound crypto interest. For seamless transaction execution and pricing, BlockFi combines liquidity. When you place a trade, the rates shown represent the total cost of the transaction.
3. Gemini
Gemini is an accessible cryptocurrency exchange that can be an excellent option for both new and seasoned traders.
Gemini is a good alternative if you’re interested in trading or investing in cryptocurrencies because of its own hot wallet, industry-leading security features, and extensive help centre.
An easy-to-use trading experience is provided by both the Gemini website and mobile app. Gemini’s easy-to-use purchase and sell options and comprehensive support page are both welcome features for new users.
Advanced charting tools, a variety of order types, and speedy trade execution are all features of its ActiveTrader platform that seasoned traders will find appealing.
Account holders must go through an identity verification process before they can use all of Gemini’s trading capabilities. A driver’s licence or passport with a photo must be uploaded throughout this procedure.
4. Binance
To give traders the finest trading experience, Binance Futures offers a vast variety of cryptocurrencies. Actions using cheap trading costs, a substantially large range of leverage, and great liquidity.
To guarantee that users are protected round-the-clock, several security measures are in place, including a $300 million Insurance Fund.
The trading of crypto derivatives is gaining popularity. More traders are using these tools every day since they have the potential to make money regardless of the direction of the market. Every month, trillions of dollars are actually moved, and the variety of products keeps growing.
Countless cryptos are available on Binance Futures. The ability to trade anything from DeFi tokens to memecoins like Dogecoin and Shiba Inu is made possible by the more than 530 crypto-to-crypto trading pairs available. In order to offer traders the optimal trading experience, new currencies are continually being published.
5. Coinbase
Users of Coinbase have access to many platforms for trading. Users can buy cryptocurrencies with US dollars using the original Coinbase platform, which has a user interface that is quite straightforward.
Users can conduct crypto-to-crypto transactions and place market, limit, and stop orders using Coinbase Pro’s sophisticated charting features. The Advanced Trade option on Coinbase’s standard interface recently allows users to access some of Coinbase Pro’s functionality and cheaper prices.
6. Crypto.com
Crypto.com can be the best option for you if you’re seeking for a cost-effective, all-in-one cryptocurrency platform. You will gain additional advantages from this exchange as you are able to stake more Cronos (CRO). It’s a reliable low-fee cryptocurrency exchange even without the CRO bonuses, with access to over 250 coins, especially if you desire a crypto debit card.
7. FTX.US
One of the biggest cryptocurrency exchanges in the world has a U.S. platform called FTX.US. It’s fantastic for aggressive traders because it has reasonable trading commissions. You may maintain all of your investments in one spot because it also provides a superb range of NFTs and equities.
8. eToro
The American market is a relatively new one for eToro. It provides an exchange where 65 cryptocurrencies can be traded, as well as an online brokerage platform where a small number of stocks and exchange-traded funds are available (ETFs).
Be aware that eToro has relatively high trading costs if you’re seeking for a cheap cryptocurrency exchange while providing a transparent pricing structure and a vibrant user base.
It is clear that students are becoming more interested in cryptocurrencies, but why?
1. Traditional assets seem out of reach
Many young individuals feel that acquiring traditional assets is out of their reach. It can be alluring for folks who feel this way to consider alternative revenue streams, such as cryptocurrency.
2. It is considered a method to “beat the system.”
Cryptocurrency may be viewed as a way to circumvent the system by some young people, fuelling their mistrust of conventional financial models. Why should they bother remaining with the system if it isn’t working for them? Cryptocurrency is viewed as a disobedient means of making money.
In fact, 27% of people between the ages of 18 and 34 prefer Bitcoin to stocks.
The bottom line
Cryptocurrency is extremely risky, unregulated, and volatile. Additionally, there are many people (apparently) making a lot of money, which causes FOMO to be prevalent, especially among young people, and crypto is here to stay.
The best thing we can do for students is to assist them in making educated decisions by assisting them in understanding the risks, dangers, and drawbacks.
