Bitcoin dragged a lot of attention in the past year and the worldwide investments in cryptocurrencies skyrocketed.
The fever of cryptography struck younger generations significantly since they are the voice of the new generation that will be making payments by transferring Satoshis. As it was a bubble (and probably it is still, though on a lower level than it was) in the beginning, a lot of students embarked on this journey in hope for safe investments that will generate profit one day.
A lot of students have started buying Bitcoin as they consider it to be a significant financial asset that could generate profit one day. The crypto trend went too far to that point that many students quit the studying and opt for Bitcoin trading, while some went for homeschooling. Find out more about homeschooling at http://www.go-green.ae/Home-schooling-and-high-education-The-problems-of-home-school-applicants-at-the-university/964. Now, for the sake of readers, let’s break down a few crucial things about this cryptocurrency so you could understand it better. Later on, find even more information about the countries where students buy cryptocurrency.
What is Bitcoin and who invented it?
It is the first cryptocurrency among many others that exist today, which hit the market in 2008. It is a government-free and bank-free (virtual) currency that is 100% in your control. Unlike in banks, when you make a deposit, the bank can use 90% of your money for investments and it does not need your permission.
It is totally in your possession and you are the only one who has an access to that money on the wallet you decide to use. You are not depending on the bank and its regulations and rules but rather on a controlled, administration-free network, powered by many crypto enthusiasts around the world. That is the key to this concept – to be free from any financial institutions, while you have an opportunity to send your money instantly, almost without any fee.
A very interesting fact regarding bitcoin is that it came out as a simple white paper that hit a cryptography forum and raised attention among the crypto enthusiasts. Officially, it is claimed that Bitcoin was invented by Satoshi Nakamoto, a Japanese programmer who contributed to its development and raise in the early stage. However, there is no concrete evidence that this is true; no one has confirmed this theory but it is instead taken for granted due to the lack of proof.
This virtual currency came into the sight after the Silk Road affair. To that point, a very small number of people were familiar with this currency. After the Silk Road was closed and founders arrested, Bitcoin started showing up in every media, little by little. In almost eight years, it became one of the best online currencies that you can use.
Where students buy Bitcoin mostly?
Since it became well-known over the fortnight, many students wanted to try their luck and they started with crypto trading. One of the biggest reasons why students buy Bitcoin is the fact that they can pay for various services. The fever of Bitcoin trading became popular that some students wanted to use student loan money for Bitcoin trading.
The United States Of America
The USA is home to many crypto startups and concepts and hosts a vast number of Bitcoin ATMs and it is known for a vast number of students. Since 2013. The number of peer-to-peer-bitcoin-transactions has grown significantly. Although the State’s Administration is strictly against Bitcoin, there is a huge crypto community, mainly consisted of young students and crypto fans. There is even a Campus Coin, a college project where students will have a chance to pay for various services and products at their university.
The Netherlands has its Bitcoin city Arnhem that has more than 100 Bitcoin merchants, offering you to purchase accommodation, gas, food or dental services in this currency. As the Netherlands is famous for the high-quality educational system and they have included matriculation exams that have crypto-related subjects to test their students on cryptography subjects.
Denmark has not declared this coin as a fiat currency officially but its administration is not against the use of it. This country also strives to eliminate the cash (paper money) as financial mean. Being one of the happiest countries, Denmark is a popular destination for students and therefore hosts many crypto projects that condition Bitcoin payments.
Sweden is also on the race to eliminate the cash from everyday use and start with alternative finances. The state’s administration and financial experts are keen to see it as a replacement for bills. This country is very crypto-friendly and their students becoming more and more active in the cryptocurrency niche.
South Korea, a home of the highest technology, has a large number of students who are not only engaged in virtual-currency-trading but also in the projects that will initiate other cryptocurrencies in the near future. Although the country has no authority for a sole purpose of control, there many public places where you buy or sell this currency. They have a firm belief that Bitcoin will replace the classic currencies like we know, as well as that the process of crypto payments is much cheaper than the standard way of payments.
Finland, a home to Nokia, has classified this currency as a legal mean of payment and their students have a chance to attend regular Bitcoin sales. In 2016. Tesla’s car was sold for Bitcoins, in the amount of more than $140,000.
Bitcoin is not accepted as a legal mean of payment in Australia but in spite of the hostility of the Government towards the transactions, the number of students who process these transactions is an uprising. There are some speculations that this country will even implement the first blockchain project in the state’s administration, as well as in their monetary system.
Germany is one of the safest counties when it comes to data protection. It accepts all Bitcoin transactions, which is great for students who are paying various services.Even though the coin is not officially recognized as a fiat currency, LocalBitcoin website has experienced a steady growth of people under 30 years old who trade Bitcoin.
Japanese Government acts friendly towards crypto-related payments and transactions and therefore encourages tech students to opt for various crypto startups and projects. In February this year, Japanese spend up to 6 million Japanese Yens in Bitcoin trading. No wonder Satoshi Nakamoto is thought to be from Japan.
The United Kingdom
The UK has already been considering how to implement blockchain-technology and improve the overall monetary system. They even requested from the public to draft a few ideas on how to improve the financial system.