Securing Your Financial Future

Now that you’ve learned about cryptocurrencies and participated in discussions about the many aspects that will impact our societies, it’s time to turn that learning into action. Depending on your interests and what’s happening in your local area, you might try some of the following ideas.

Stay Informed

As new financial technologies emerge, staying informed is one of the most important ways to be involved. Your monitoring might help you anticipate changes in global finance and ensure you’re financially savvy.

• Read the news. When consuming information, it’s always best to do your research and cross-reference with reputable sources of information. All major news organizations will cover cryptocurrency when it has national attention, but some dedicated sites like Cointelegraph, Coindesk, and Decrypt can provide you with regular news updates.
• Learn about FinTech. Cryptocurrency is but one part of the larger future of financial technology. Keeping up to date on the rapid change in the financial sectors will prepare you to make informed decisions.
• Join the conversation. Cryptocurrency is a hot topic on social media. #Crypto on Twitter and r/Cryptocurrency on reddit are two places where you can follow the news, learn from other interested individuals, and share your ideas.
• Connect with others. As you keep up-to-date on the conversation and develop a critical mindset, you can share your knowledge with your friends and family. Being involved in an organization is also a great way to learn; Meetup boasts 3907 cryptocurrency-focused groups. Check with your local colleges and libraries to see if they have any offerings.

Develop Your Financial Literacy

• Assess your financial situation. What are your current assets and debts?
• Set financial goals. What are your financial goals for the next five years, ten years, and thirty years?
• Monitor the conversation, monitor your finances. How will you regularly monitor and adjust your financial plans? As we’ve discussed in the Teach-Out, the statuses of global finance, banking, currencies, payment methods, asset management, and much more are rapidly changing. It is likely that there will be large changes in these areas over the next few years that will necessitate changing your financial practices. By keeping your ear to the ground, you will be able to make more informed decisions as you monitor your finances.

Explore Further

If you are interested in getting hands-on experience with cryptocurrency, you can consider investing. Guides are freely available on the internet (Investopedia, NerdWallet, 99BitCoins to mention but a few) but there are some key steps: researching coins, getting a wallet, choosing an exchange, and safely managing your investment. However, as you’ve learned, cryptocurrencies work using blockchain technology, but cryptocurrency is only one of many uses of blockchain. It may behoove you to learn more generally about blockchain technology and the future of financial technologies.

Discussion: Reflect upon your own interests. In what area would you like to learn more? Have you come across any other ways to further your understanding of cryptocurrency, blockchain, or other financial technologies?