You don’t have to drain your bank account to start investing in cryptocurrencies. Even if you are a student looking to buy tuition and textbooks, you can get started with small investments in promising but affordable cryptocurrencies. Here is a quick guide to eight cryptocurrencies available on a student budget that offers a good mix of stability, innovation, and perceived growth.
Bitcoin (BTC)
You can invest in small fractions of a Bitcoin. Bitcoin is the largest cryptocurrency and has the most liquidity of any cryptocurrency. It is the only one that has made it into mainstream consciousness, and that is likely to continue. With fractional purchasing, you can get started for only a few dollars with this king of cryptocurrencies. Smaller bets often pay off over time, which is likely true of Bitcoin as it continues to make inroads into the world of mainstream finance.
Ethereum (ETH)
Ethereum is designed to be much more versatile than Bitcoin, making it an appealing choice for different uses:
- General Purpose: Ethereum supports trading digital commodities and running decentralized applications on its blockchain.
- Broader Applications: It can handle more complex applications, which may lead to a higher long-term value.
- Attractive Investment: Ethereum’s potential for wider application makes it particularly attractive to investors.
- Fractional Purchases: Like Bitcoin, Ethereum can be bought in fractions, making it accessible even if you can’t afford a whole Ethereum.
- Accessible Technology: This allows students or those with limited funds to start investing and exploring the technology affordably.
Ethereum’s adaptability and potential make it a standout choice for both budding and seasoned investors interested in the possibilities of blockchain technology. If the latter is just a buzzword for you, as a student, you can research this new field and build your understanding of it before investing. If needed, hire a research paper writer to gather information for you. This way, you will get well acquainted with blockchain technology without spending valuable time on tedious research.
Cardano (ADA)
Cardano’s emphasis on security and sustainability makes it particularly attractive to developers and investors. Its low costs and energy expenditure compared with larger cryptocurrencies make it an appealing entry point for students seeking more sustainably oriented investment choices.
Litecoin (LTC)
Nicknamed the silver to Bitcoin’s gold, Litecoin transactions are four times faster and cheaper than Bitcoin, making it our top pick for students. The per-coin price is lower than that of Bitcoin or Ethereum, so you can purchase whole coins instead of fractions.
You can invest in this cryptocurrency to later finance your academic or personal expenses, from discussion board post writing services to a new iPhone. Students who invest have the opportunity to build up their budgets and lay the groundwork for more substantial investments in the future.
Polygon (MATIC)
A project called Polygon is making waves. Its technology creates highly scalable Ethereum-compatible blockchain solutions, and its low usage costs make it an attractive proposition for students looking to diversify their crypto portfolio without spending a lot of money.
Stellar (XLM)
Stellar specializes in cross-border transactions and has partnered with many large technology and financial firms.
By opening up every part of the world to financial services, Stellar’s token XLM is not only cheap, but it might also be a big player in the fast-growing field of fintech.
Chainlink (LINK)
Chainlink is a decentralised oracle network that allows smart contracts to gain access to data from the real world. Its unique technology and degree of integration with other blockchain projects provide good growth potential at this early stage, making it a suitable choice for students investing small amounts.
Algorand (ALGO)
And it’s fast: Algorand is a next-generation blockchain that’s ideal for building decentralized applications (DApps) because of its ‘pure’ and efficient transaction processes. It’s also a good candidate for token – a new blockchain early and wants to pass it, looking to invest in the newest blockchain technologies.
Crafting Your Crypto Investment Strategy
Cryptocurrency investment is a long-term game. If you start small and choose the right currencies, the rewards can be long-lasting, and these investments can pay off. There is a fine line between being a broke student and a savvy investor. As it is, any given student or graduate who wants to invest in cryptocurrency is constrained by a small budget. The key is returning to the drawing board, looking at your budget, and making smart choices. Remember, it is an investment, and just like any other investment, you should do your homework, understand the potential of each currency, and invest money that you can afford to lose. If you’re lucky enough, your small investment today might be able to fund your first house deposit after graduation. Happy investing!
