Cryptocurrency is not a new term to any of us. The market recession in 2008 paved the way for cryptocurrencies into the global market. Bitcoin was the first to join this league and people are enjoying Bitcoin as a financial medium.
Following these steps, other cryptos have made a strong market presence. It is estimated that 14K+ cryptocurrencies is now circulating globally. As of 2021, the total market capitalization of cryptocurrency has reached $2 trillion.
This increasing number seems to confirm the fact that the crypto craze is not going to end soon.
The return on investments is another motivating factor attracting investors. Investors have made large profits by investing, trading, and selling cryptocurrencies. With growing interest in crypto investments, there is also an increase in total exchanges dealing with cryptos.
Why is the student community attracted to crypto investments?
The cryptocurrency market indeed saw a large increase in investors in the last 5 years. But, an interesting factor here is the growth of the student community and their investments.
Recent studies suggest 20% of student investments are in the age group of 18-20 years. Compared to previous years, there is a 400% increase in student investors. Other statistics suggest that more than 30% of this investment group either pursue engineering or have a technology background.
The growing acceptance of cryptocurrency investments is an added advantage. Multinational companies including Tesla, Microsoft, Deloitte, and JP Morgan Chase support cryptocurrency payments. Retail industries including healthcare, insurance, gaming, and e-commerce sites accept cryptocurrency payments.
Buyers can pay using cryptos in exchange for goods and services. Most online platforms have configured their payment gateways to accept cryptocurrencies.
The growing interest in cryptocurrencies globally has attracted young investors to this industry. Listed below are the five best cryptocurrencies for young investors to place their money. these currencies are affordable and proved to provide long-term benefits.
Cardano
A safe and easy cryptocurrency to invest in. Cardano is currently priced at $2.18 and has a total market capitalization of $71 billion.
The entry of Cardano into the crypto market was in 2017. This cryptocurrency adopts a similar working model as that of Ethereum.
It can execute smart transactions along with decentralized finance. This feature has attracted many investors to this crypto coin.
Algorand
Launched in 2019, this cryptocurrency sustains on its own. This cryptocurrency adopts a decentralized finance model backed with blockchain technology.
It can support many applications. Algorand has become a safe and secure cryptocurrency for your investment. Another attractive factor is its support to execute strong computations with reliable logic.
Algorand is currently priced at $2.01 and has a total market capitalization of $12 billion.
Polygon
Polygon has spent close to a decade in the crypto industry. Besides young investors individuals and institutional investors backing funds with Polygon.
One polygon token is priced at $1.78 and has a total market value of $12 billion today. Transactions are undertaken using a user-friendly platform.
The core infrastructure of this coin uses Polygon SDK. This logic has the scalability to support many applications.
Fantom
Launched in 2019, Fantom is pricy as compared to other cryptos listed here. Fantom is currently priced at $3.41 and the total market currency is at $8 billion.
Smart contracts, decentralized finance platform is what attracts investors to this crypto. Fantom aims at solving issues related to the execution of smart contracts. This includes reducing the processing time and speed of transactions.
Polkadot
This crypto was under development for three years. Polkadot entered the crypto market as a strong competition to bitcoin and Ethereum. Polkadot deploys simple logic. It aims at connecting many networks of blockchain into a single network.
The market price of Polkadot is at $17.82 today and is a bit pricey compared to other cryptos. Polkadot has been able to provide strong competition to its peers. This crypto continues to provide a reasonable return on investments as well.
While the cryptocurrency market may seem lucrative, it is important to understand before investing. One of the common factors about cryptocurrency is its price fluctuations and volatility.
Being a student investor, it is important to consider long-term investment goals. Do to invest in any crypto in haste. Take time to study the market and make the right investment decisions.
