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Nearly every university student is on the lookout for that ideal part-time gig. Face it, classes and homework take up the bulk of your time. That means it can be tough to squeeze work into the mix. The big irony here is that unless you do find some kind of work, your social life will take a major hit and you’ll end up spending weekends alone and missing out on some of the best parts of the college experience. If you’re headed to college or grad school, or already there, consider becoming a cryptocurrency trader in your spare time. There are lots of advantages, including the ability to set your own hours, reach a high-income potential, and not spending too much time learning the trade. You’ll work alone, with no boss, and can earn enough to have an active social life and perhaps even save a few dollars while you’re at it. If this sounds like something that suits you, here are some key points to consider before diving in.
Learn the Trade and Limit Your Hours
You can learn all you need to know via online tutorials and free books. Some people say that you need a total of 40 hours of study to gain a firm grasp of the field as well as the trading methods you’ll be using. Learning the job is not the hard part. The challenge comes during those first weeks when you’re investing your own money. Don’t forget to make use of a trading simulator where you can invest fictitious funds before going live with your own cash. As well, remember to limit the number of hours your trade each week. It’s easy to experience some early profits and become hooked on the job. Some who are new to this kind of a part-time job limit themselves to between 10 and 20 hours of active trading per week.
Cover Your Tuition and School Expenses with Private Student Loans
Use private student loans to cover your full tuition and other educational fees. That way, you won’t be taking on a part-time job out of necessity but because you want to. When you take advantage of education loans to pay for tuition, room, board, fees, and books, your part-time income is yours to spend or save however you wish. The best part is that private loans come with competitive interest rates, reasonable repayment times, and flexible terms. When you structure your financial situation wisely, you’ll have the peace of mind that makes it easier to concentrate on your studies and enjoy your social time as well.
Choose the Right Coins and Exchange
While you’re still learning the basics it’s wise to stick with the better-known coins like Bitcoin, Ethereum, and Litecoin. The smaller, newer issues are just too risky and/or complicated. Equally important is finding an exchange that is set up for beginners. One advantage is that you’ll be able to purchase your cryptocurrency with regular money. That one aspect will make your life as a new crypto trader much simpler. There are several ways to store your coins. In this early stage, it’s smartest and safest to use hardware wallets. That way, no one, not ever a hacker, will be able to compromise your connection and steal your money.