Do you need a financial college major to work with crypto? In short, no, but it can help quite a bit. Depending on what your aspirations with crypto are, you may benefit even from a different major. As crypto is becoming a hotter topic day after day, the number of those interested in working with the currency of the future grows as well. Let’s read on and see if you can benefit from a financial college major in the crypto industry.
How to Work With Crypto?
When working with crypto, there are several ways to approach it:
- You can code for crypto,
- You can handle crypto,
- You can make crypto-based investment funds, and
- You can invest in crypto yourself (either through purchasing or through mining).
Only the second and the third option may benefit from a financial major in this field. The first kind of dealing with crypto means that you will most benefit from a major in computer sciences and coding, while the last one demands a very general financial literacy and the ability to diversify. With digital marketing being employed to make the idea of crypto-investment to more people than ever, knowing your financial bit pays off tremendously. After all, crypto has broken more people than it has managed to turn into millionaires.
Supply vs. Demand in Crypto
Having said this, we can continue to see how a major in finance can help you with crypto. First things first, knowing how money flows and how supply and demand can influence the price of goods and services is probably the best way to address and predict crypto price fluctuations. Do you need a financial major for this? Not necessarily, although it can definitely help.
Crypto and Price Fluctuations
Dealing with crypto is a very lucrative business, so being able to understand the risks, and the pros and cons of dealing with this new form of currency can help you protect yourself from sudden falls in prices. We could all see, back in 2020, how shorting a stock, for example, can bring a company to the brink of extinction and how just a handful of posts on Reddit can cause a massive response against this malpractice. Knowing how the market works is worth a fortune, so you may decide on a financial major after all.
Crypto and Financial Independence
Furthermore, as many see crypto as a step towards achieving your financial independence, you may be able to double benefit from having a financial major. On the one hand, you will be able to time the market and get in at the right moment. On the other hand, you will also be able to benefit once you sell your crypto coins and know how and where to invest. For this reason, you can find free essays online for college and dedicate more time to crypto exploration. As the number of those wanting to achieve financial freedom in their 20s and 30s grows, so does the need to free up college time and be able to learn more about the changes in the financial market.
Understanding Crypto with a Financial Major
Having a financial major can also help you follow with more understanding of the new streams in the international crypto world. 2020 and 2021 saw a lot of upheaval in governments as the COVID-giving emptied the treasuries around the world. This also meant that the governments had to find novel sources of money for their own operations and crypto started being taxed. On the other side of the world, ruling was being done to determine if crypto was a Ponzi scheme or not. The courts ruled yes, and many countries, including China, forbade crypto mining and handling on their territory.
Final Considerations
Being able to understand the crypto market outside of the box created by hype-erts (as opposed to experts) is necessary considering market fluctuations and the instability of the newly formed currencies. This kind of understanding can only come from having a finance major. For this reason, we recommend not dealing with crypto on a large scale unless you are an expert in the field of finances and cryptocurrencies. If you are in it for simple investment and portfolio diversification, you can go for it even without a major in finance.
Eric Wyatt
Eric Wyatt loves ancient things and loves spending his free time watching documentaries. In the past few years, however, blockchain technology took over his interests, so that now he does a lot of reading on it. He hopes to one day reach financial independence by investing his time and money in a smart, long-term productive way.
