This Teacher's Day, let Bollywood Gurus guide your way into world of cryptocurrency

It’s that time of the year again where we remember and reminisce our teachers who unlocked a completely new world for us every time we saw them-the words of Shakespeare, the law of demand and supply, preparing cash flow statements, deriving square, cube roots, or simply, and most importantly, supporting and teaching us how to overcome rejections, failures and uncertainties, learnings that probably stay with us for a lifetime! 

And another great teacher that most of us encountered and lived with as we grew up was perhaps the many gems of the Indian film industry. Bollywood has, over the years, given us many, many iconic stories and teachers who have made us crush hard, cry harder, but most surely, learn and imbibe the hardest. Let's face it, every time we venture into uncharted, unknown waters, or even in the face of extreme adversity, we always wish for someone to guide, counsel, and direct us.

But who do you turn to when it comes to seeking advice about jumping aboard on your journey into something as nascent, evolving, and new as the crypto-verse? There’s so much to detangle, learn and decipher here that a good teacher can certainly come in handy! And what better than to revisit the advice of some of the legendary Bollywood teachers and students to give you the perfect, right push you need? Read on: Crypto-literacy Remember when Munnabhai endearingly tells Circuit about the number of bones the human body has? “206 type ka sirf haddi hai, todne ke time apun log sochte they kya?” There are currently 11,602 cryptocurrencies in circulation! How do you decide which one to invest in?

According to Sharan Nair, CBO, Coin Switch Kuber, “The nascent cryptocurrency space is constantly evolving with different, newer coins, concepts and players regularly coming to the fore. The adoption of cryptocurrency in India is on the rise, making literacy about the same crucial since it is a new asset class that has many misconceptions floating around. Thus, in order to get the best returns and investment security, investors should proactively educate themselves on the different types of coins available.”

The answer, therefore, is simple! For a Mazza ni crypto-investing/trading life, research is paramount. The whitepaper of the concerned currency is a good place to start off your research, because it provides a deep dive into its practical use cases, scalability potential, roadmap, community engagement, growth prospects, and underlying applications, among others. Turns out, when Ram Shankar Nikumbh from Taare Zameen Par said that, “Har bachche ki apni khoobi hoti hai, apni kabiliyat hoti hai, apni chahat hoti hai”, he didn't just refer to Ishaan. Every cryptocurrency comes with a different value offering. 

For instance, Bitcoin is widely considered to be a great store of value and an upcoming inflationary hedge, while Ethereum aims to usher in Web 3.0, while Cardano aims to negate the real-world massive environmental and energy issues that plague crypto-mining. Hence, it is important that you take a closer look into the underlying technology, fundamentals, and future potential of the coin you wish to invest in, along with assessing their vision, purpose, and the management quality backing it. 

Ramalingam Subramanian, the head of  Brand & Communication at CoinDCX, which launched DCX Learn in 2020 and aims to onboard 50 million investors in the times to come, sees huge, untapped potential in the crypto-education market. “We had identified the need to create awareness about cryptocurrency and blockchain among the public. We strongly believe that having a better understanding of crypto can help make informed decisions and also reap the benefits of investing in digital assets. Having this thought process in mind, we developed the platform to guide people through numerous informative digital content such as articles, online courses, interactive lectures, and much more,” he elaborates.