Hi, hivers. If you are looking for information regarding "How Crypto Changes Financial Literacy," then you have landed in the right place. This is the kind of education till now kids are getting. It was always about the credit cards, debit cards, banks, insurance, loans, and retirement, so these were the subjects of financial literacy. Still, with the rise of crypto, this is changing, and now kids need to learn digital currencies as well, so it is like one big chapter has been added to financial literacy.
A few years ago, no one even thought that money could be decentralized. In centralized finance, everything works on a third party's approval, and you have to wait for the approval on the other side. In crypto, you just need a smart smartphone or a desktop with an internet connection, and that's enough, and you can start transacting crypto using a crypto wallet. Using crypto means it is all your responsibility. When you have private keys and a seed phrase, then you have a wallet in your hand, so it is your money in your hand. In a bank, when you forget your atm pin or your net banking PIN, then sometimes you have to rely on the bank.
Crypto is extremely volatile, and crypto's this chapter is a must to learn in financial education. It is important to diversify your portfolio in traditional finance same thing applies to cryptocurrency, so when you are diversifying your money, you are following risk management rules. By experiencing the volatility of crypto, you can learn things like patience, risk, quick profits and dangers, and this is needed.
Crypto's most powerful weapon is inclusivity because bank access is not everywhere, which means not everyone can participate in financial participation, but crypto is opening doors for them. So crypto is for everyone, which is why the digital currency education for the new generation is extremely important, so that they can benefit from crypto because traditional finance is limited, while crypto is beyond the borderline of traditional finance. Feel free to share and comment. Now I am signing off.
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