Things you should know before getting into the Crypto field

          

India's cryptocurrency craze has recorded a spurt in students investing in cryptocurrencies as this new class of investors: the enterprising teen has found favor with the community as an investment. According to industry trackers, India is mirroring a global trend where more investors are flocking toward the crypto assets, especially teenagers.

Today these enterprising teens are investing their pocket money in crypto assets which are helping in fueling India's surge in crypto investments, which stood at nearly $6.6 billion (Rs 49,189 crore)in May from just $923 million a year earlier. And in this pandemic era, boredom and huge profit promises have brought more kids in buying bitcoins and other tokens -and getting acquainted with markets ups and downs.

Money attracts money! this statement could not have been more true for the crypto industry . A 17-year-old student from Kolkata, named Hashir Hussain said " As an investor, I think cryptocurrencies are a good way to exponentially grow your wealth". This statement in itself can influence a lot more kids to invest their pocket money in buying these coins and tokens. Recently CoinSwitch Kuber, a cryptocurrency exchange ,said that it has raised $260 million from investors including Tiger Global ,Sequoia Capital India and Anderssen Horowitz. The investment values the exchange at $1.9 billion. 

Around globe, more than 300 million people hold and use crypto currency, and in India alone has  100 million users , as per various media sources . But as these assets are not regulated , people have no protection in case something goes wrong  and the fact that transactions happen anonymously on the crypto blockchain network, so no one can trace its origin. On social media we see a lot of celebrities supporting one crypto or the other , or pulling it down . but going with the same flow and getting influenced with them is not going to help you in any manner . Do not fall prey to them instead try to understand its meaning , and  only then invest in it. Acquire adequate knowledge about cryptocurrency before you start investing .Regularly read financial newspapers, magazines, take advices from experienced traders. Invest in your education about logic, techniques, proper selection of coins and a great thing is patience , if you have guts to lose 10x then only you deserve 100x. there's a saying "Give a man a fish and you feed him for a day.Teach a man to fish and you feed him for life." thus focus on bigger picture and make the real money! And of course the knowledge is out there and free to learn .And the most beneficial aspect of crypto today is the time you put into it . It may seem to go against the norm in many ways but trust me that's the value.The time is now to learn skills that's going to add value . For example, coding, developing of programs , cryptos and NFTs knowledge, Decentralised ledger technology  (DLT), trading knowledge , market research techniques and many other like these are going to impact future. Early adopters of these tech in both AI and finance will be many steps ahead of the masses in the near future. Henceforth, when you are confident enough start investing with a small amount such as if you are a student and you have $200 ,instead of investing them on beer and wines spend it on the above  and maybe, just maybe it will be the best thing you have ever done for your future.Good luck and thankyou for reading!