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blog Personal Finance | 5min Read

Cryptocurrency: A Financial Fairy Tale

Published on November 27, 2021

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Cryptocurrency: A Financial Fairy Tale

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Imagine creating a payment system as a joke and ending up with a market cap of US$29 billion! Yes, that’s exactly what happened with software engineers Billy Markus and Jackson Palmer after they launched Dogecoin in 2013. It wasn’t until 2021 when Elon Musk vocalized his support towards Dogecoin, that the currency shot up by more than 20,000% in just one year!

If you’ve been seeing a lot of speculation around this but are not sure as to how cryptocurrency works – today’s your day. You will get to know the story behind cryptocurrency and what it means for you.

It is often said that you’re never too young to start saving money. One can start saving after settling down with the family, like your grandfather. Or, one can start saving after launching their first business, like your father. But someone like you can start saving right away – while still in high school.

While the ultimate motto behind saving money has remained the same, the resources from where we get this income and the form in which it has been stored have drastically changed over the past few decades. Cash is no longer the king. With the storming digital revolution, the need and the spread of digital money have seen remarkable growth. So, what is digital currency?

After the COVID-19 pandemic hit, the world has been more rapidly choosing digital money and going cashless. Digital money has brought immense ease of access, but at the cost of cybercrimes. With the world opting for digital transactions, every single day, security has become a major concern. And that’s where blockchain technology and cryptocurrency come into the picture.

What is Cryptocurrency and Why Was It Created?

Just like the dollar, euro, pound, or rupee, cryptocurrency is a digital coin that is used as money in the online medium. This is not physical money that you can pull out of your pocket or fiat currency that the banks can store on their premises. So, where do cryptocurrency, and the transactions made using it, reside? The answer to that is blockchain. Now, what is a blockchain? In simple words, a blockchain network is a ledger or a collection of all digital transactions that take place.

To summarize, you need to observe that physical money is being replaced by digital currency here. Also, all transactions are being done on the backbone of blockchain, which is a decentralized technology. Everyone can access it. No single entity has full control over cryptocurrency which makes it decentralized and hence immune against cyberattacks and sloppy, corrupt transactions. That explains why cryptocurrency was created in the first place.

Types of Cryptocurrencies

Broadly, there are two categories that cryptocurrencies can be divided into – coins and tokens. The major difference between these is that coins have their own blockchain network whereas tokens make use of the existing blockchain.

Bitcoin was the first cryptocurrency, released in 2009, and Satoshi Nakamoto was the developer who created and developed Bitcoin. With the rising demand and growing popularity of Bitcoins, people have created plenty of cryptocurrencies in this digital world. Did you know that there are more than 6,500 cryptocurrencies? This includes Ethereum, Ripple, Polkadot, Stellar, Bitcoin Cash, Chainlink, and yes, the reputed Dogecoin as well. Coins other than Bitcoin are also known as Altcoins.

How Will Crypto Wallets Replace Piggy Banks?

Cryptocurrencies follow a decentralized system, and not a centralized system used in banks and electronic money. Unlike the traditional currencies used in the world, cryptocurrencies aren’t owned by a single country or a person. This transparent technology allows to have more secured transactions and there are not any taxes or transaction charges involved while doing so. You can simply keep your money safe in these crypto wallets, and make use of it whenever required. Although, you cannot make use of cryptocurrency for daily transactions yet, the future surely would have a different story.

Cryptocurrency and Teenagers

Neither the top investors nor anybody else, it’s YOUR pocket money that is growing India’s crypto investments! Yes! The past year has witnessed a huge surge in crypto investments, a huge chunk coming from teenagers. In fact, a survey found that 45% of teens believe they know about cryptocurrency more than their parents. Undoubtedly, the dynamic nature of cryptocurrency makes it a perfect fit for inquisitive young minds.

Not only are teenagers researching and investing in cryptocurrency, but they are also mining their own digital tokens! What is crypto mining? Well, it involves a piece of sophisticated hardware that solves a complex computational problem. In simple words, you can consider crypto mining as a way of creating new coins, as these Texas siblings are doing. Remember we talked about blockchain being a ledger for crypto transactions? A verified crypto miner validates crypto transactions and adds them to the blockchain ledger, thereby earning money from the same.

While Indian crypto exchanges do not allow individuals below the age of 18 to invest yet, won’t it be cool if you could amplify your parents’ or your elder siblings’ investments?

Cryptocurrency is the Future

A decade ago, the concept of flipping your phone, scanning a QR code, and making payments on the go was a fancy dream. Today, it’s an inevitable reality. Innovation often finds itself in the hands of unpredictability.

Believe it or not, cryptocurrencies are here to transform our world and you will soon find yourself in a world that literally runs on them. While there’s still a lot of speculation around the stability of cryptocurrency, the best idea is to start learning about it, before it’s too late. You don’t want to be late to the smart investors’ bandwagon, do you?

Conclusion

The nature of cryptocurrency is volatile but highly rewarding. An investment that yields huge returns is a product of smart decisions and fundamental knowledge. Get your basics right with the Smart Money Camp – a student financial literacy course – and be ready to conquer the world of cryptocurrency. The sooner you start, the greater the edge you have.

The future of your money is in your hands, are you ready to learn?

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blog Communication | 3min Read

6 Habits of Highly Effective Communicators

Published on November 26, 2021

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6 Habits of Highly Effective Communicators

Communication – The bond builder

“Wise men speak because they have something to say.” This age-old adage defines the core characteristic of effective communicators. Communication is the basic bond builder among humans & the more effective the communication skill is, the better the bond will be.

Communication can make the difference between success & failure. The power of effective communication can motivate others to action and inspire new ways of thinking. It carries the potential to change the world.

But, can Communication Skills be developed? Yes!

Developing strong communication skills is especially essential when it comes to building a successful life. Effective communication, being a skill, can be inculcated & nurtured. It can be sharpened by emulating a few techniques, practices, and by participating in Effective Communication Programs.

Most of the effective communicators share a few basic traits among them. We list here a few points that are easy to practice, and when done right, can be life-changing.

  1. Find resources & means to evolve
  2. Prepare to Lead
  3. Curiosity
  4. Face situations
  5. Listening
  6. Emotion Control

1. Find resources & means to evolve

Effective communicators are always on the lookout to improve. They are well aware of their strengths & weaknesses. They think in advance about what they intend to accomplish with their words & plan accordingly. They find resources & means to constantly evolve. Among so many, one of the means is joining a Leadership Workshop or an Effective Communication course.

2. Prepare to Lead

Effective communicators are prepared to seize opportunities & lead. They find new avenues to add value, clarity & inspiration with their words & accelerate success.

3. Curiosity

How? Why? What? What if? Asking questions helps to understand the situation better & involves the people around. Soliciting suggestions is a great trait that helps them move ideas. Curiosity questions lead up to deeper conversations. This would also open up opportunities for a conversation about those conversations. You would need to stretch yourself on each conversation, this way you would come up with a variety of responses to make yourself clear.

4. Face situations

Effective communicators are ready and raring to face any situation. Their self-confidence gives them the ability to stay on top of any situation & work it into their favour through effective words.

5. Listening

Effective communicators do not just like to talk – they love to listen as much. Their interest in people & their opinions is just as genuine. They always want the benefit of other points of view. People like to be interacted with, not lectured to. Listening is as much a skill as communicating is.

6. Emotion Control

The most important trait of an effective communicator is emotion control. Emotions have a way of leading a person’s thought process. Anger, Sadness, Happiness, Fear have a way of finding expression through words. A great communicator must have control over their emotions. Clarity of thought leads to clarity in words.
Communicate better. Make a Difference.
Developing the ability to understand others helps you to connect better & make a lasting impression. Words have the power to influence & change the world. Be wise – speak when you have something to say.

Big Red Education and our Ivy Early Entrepreneur Program

In our entrepreneurial workshop – Ivy Early Entrepreneur, students go through the process of business development and leave the entrepreneur program having completed a business model canvas, competitive analysis, financial model, minimum viable product, and a pitch deck.

Students get an opportunity to learn from successful entrepreneurs who are alumni of reputed universities and are experts in their respective industries.

These experts serve as coaches guiding students through the processes of developing a business concept. Risk-Taking, Decision Making, Critical Thinking, Problem Solving, Communication &

Storytelling, Design Thinking & Innovation, and Opportunity Recognition are a few of the key learning areas of our program.

On successfully completing the entrepreneur workshop, the guaranteed internship will be extended to all the students within our partner firms and with most of the mentors teaching the program. Students will be provided with a certificate of participation by Big Red Education. This certificate can be used for your college portfolio.

Ivy Early Entrepreneur

11th – 17th Jan 2022

Idea Generation | Market Research | Design Thinking | Pitching

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blog | 5min Read

Productive Things Students Can Do During The Pandemic

Published on November 25, 2021

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Productive Things Students Can Do During The Pandemic

When the pandemic struck, all of us were forced to retreat to the comfort of our homes. We spent a year being careful and social distancing. And now, with the new strain of the COVID-19 virus that has erupted in India, we might have to pass another year or so keeping safe in our homes. 

Boredom has grown quite prevalent in this era, especially in the case of teens and kids. We can’t meet our friends, go to the mall or even the park. So, in this time of utter disarray, here’s what students can do in the lockdowns:

  1. Courses/Workshops
  2. Internships
  3. Hobbies
  4. Social Work

Courses/Workshops

Courses are an extracurricular activity that help you keep boredom at bay. Choosing to learn more about a subject you’re interested in only furthers you on the path to success. You can broaden your horizons and have fun at the same time, what’s not to like? Webinars and sessions such as these allow you to learn new skills and ways of thinking, while giving you feedback on your previous shortcomings so you can improve. These courses and workshops let you engage with new people who most probably share similar interests. This way, you can make new friends and further your social skills, too. Plus, furthering your extracurriculars like this shows colleges that you’re actually interested in a subject and are serious about it.

Sparkling up your resume like this is definitely an advantage and could land you in the university of your dreams. One other possible benefit of courses is that they can help you realise whether you truly want to pursue a field of study. Knowing what your passion is is a big part of life, and these realisations could possibly help save you money and time. So, taking part in courses and workshops doesn’t only keep you busy but it also offers you multiple other benefits that are too attractive to ignore!

Internships

Internships for high school students can be considered similar to courses in terms of their benefits, but are different in their own way. An internship is an official programme that is offered by an employer. Internships let high-schoolers and college-students gain valuable work experience that would be otherwise hard to acquire at such an early age. Interns have the opportunity to apply acquired knowledge to day-to-day work experiences, first-hand, fully preparing them to enter the workforce post graduation.

Further through internships, you can explore a career path, and gain confidence in your chosen field of study. They allow you to decide whether the field is right for you and make mistakes in a safe environment, where they are expected. By developing and refining new skills that you gain during the internships, you can give yourself an edge in college applications and in the job market. Even virtually taking part in such experiences, you can learn countless things both from your superiors and your mistakes. Internships provide you with the opportunity to learn from the people around you, ask questions and impress. They are surely a great way to have fun and take advantage of the free time you have available as they will greatly aid you in the future, too.

Hobbies

Finding ways to pass your boredom need not only include extra-curricular activities. Hobbies are a way for you to creatively express what you’re feeling and enjoy your time. They allow you to take a break and carve out time to devote to what you want. Losing yourself in a good book, or immersing yourself in an artwork can keep you productive and instil you with a sense of purpose while having fun. Hobbies benefit you mentally by decluttering your mind and letting you be in the moment. They take you away from stressful thoughts and situations, and their productive nature keeps feelings of guilt at bay. They help you practice mindfulness techniques without even realising it and are a great way of keeping yourself occupied. Physical hobbies such as badminton, yoga, dancing or other sports keep you in shape and provide countless health benefits. These activities keep us active and result in increased confidence and energy levels. Lastly, hobbies can open up your world by stretching the limits of your imagination. They satisfy a curious mind and help you learn new ways to improve. They are one of the best ways to show your passion and leadership in your professional life, and hence are a very advantageous way to chill out.

Social Work

Social work is a way to not only benefit yourself, but also others. Spending even an hour a day focusing on how you give back could possibly change someone’s life. It helps you increase your emotional intelligence by exercising empathy and the practice of giving. You can build unforgettable relationships and learn essential people skills. So how exactly do we engage with it? Well, you can opt to lead a social project . This can provide you with new skills such as long-term commitment and the ability to think on the spot. Even if you only participate in one, it can be highly beneficial as you learn to overcome obstacles and work in a team. Further, doing social work enhances self-esteem as giving back and driving change can make you feel good about yourself. It gives one a sense of accomplishment and is extremely rewarding. Educating yourself in these skills at an early age cements them forever. Occupying yourself by doing social work like this helps everyone learn effectively and is an unparalleled way of passing your boredom.

There are so many things and so many ways to do them, and we’ve only listed a few. Going out there and simply looking for experiences such as the aforementioned is an important way of keeping yourself constructively busy. Co-curricular activities help in the holistic development of students and assist in developing critical skills and abilities to be successful and happy in the 21st century life and workplaces. Plus, you can have so much fun while doing them. Now, it’s your choice whether you want to succumb to boredom or try to be a busy bee.!

Big Red Education and our Ivy Early Entrepreneur Program

In our entrepreneurial workshop – Ivy Early Entrepreneur, students go through the process of business development and leave the entrepreneur program having completed a business model canvas, competitive analysis, financial model, minimum viable product, and a pitch deck.

Students get an opportunity to learn from successful entrepreneurs who are alumni of reputed universities and are experts in their respective industries.

These experts serve as coaches guiding students through the processes of developing a business concept. Risk-Taking, Decision Making, Critical Thinking, Problem Solving, Communication &

Storytelling, Design Thinking & Innovation, and Opportunity Recognition are a few of the key learning areas of our program.

On successfully completing the entrepreneur workshop, the guaranteed internship will be extended to all the students within our partner firms and with most of the mentors teaching the program. Students will be provided with a certificate of participation by Big Red Education. This certificate can be used for your college portfolio.

Ivy Early Entrepreneur

11th – 17th Jan 2022

Idea Generation | Market Research | Design Thinking | Pitching

Learn More

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blog Leadership | 4min Read

How To Identify and Improve Leadership Skills Within Yourself

Published on November 16, 2021

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How To Identify and Improve Leadership Skills Within Yourself

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It is said that great leaders are born and not made. While the truth of this adage is certainly debatable, it is definitely true that leadership skills can be identified, inculcated and nurtured.

Leaders have the potential to influence great changes. What a leader says or does has a great impact. Good leaders always respect themselves and others. A great leader always chooses the harder right rather than an easier wrong. They take responsibility for their actions.

Though each leader is unique, successful leaders share a few common traits. These traits can be identified, developed and nurtured to create great leaders.

Initiators.

Great leaders are excellent initiators. They always strive to help others in any way they can. They proactively look for opportunities, volunteer for responsibilities and are a part of the solution.

Demonstrate a desire to do more than what your role includes. Be ready to assist in other domains. Identify issues and try to develop potential solutions.

Critical thinkers. 

Failures are inevitable. But the ability to think rationally, critically and avoid failures or rise from a setback is what sets great leaders apart. Leaders understand failures may happen, but they do not dwell on the mistakes.

Use failure as a learning opportunity and a way to improve your skills. Learn to think critically and use failure as a motivation to succeed.

Listen. Listen. Listen. 

The biggest problem is that people do not listen to understand – they listen to reply. Leaders listen more than they need to speak. This allows them to gain a better insight into the situation and determine if they need more data before making a decision.

The word ‘Listen‘ contains the same letters as the word ‘Silent.’

Motivate.

Successful people build each other up. Encouraging others to succeed is a trait of a good leader. Good leaders give credit where it’s due and avoid taking credit for others’ work.

Good leaders help others feel confident about themselves. Learn to enjoy seeing others succeed. Be a part of a process. Success is all about what you inspire others to do.

Stay Disciplined.

Discipline is the bridge between goals and accomplishment. Leaders have to remain focused. They have to be able to work in all types of conditions without getting distracted. With self-discipline, anything can be conquered.

Discipline is the key to success. Motivation gets you going, but it is the discipline that keeps you growing.

Keep Learning. 

Learning is a continuous journey. Leaders welcome the chance to learn new skills or ideas. They are constantly on the path of updating and upgrading themselves.

Be willing to learn new things. Learn continually – there’s always one more thing to learn.

Delegate.

Delegating tasks is a vital part of being a leader. Finding the perfect person for the job is a skill that good leaders excel at. Leaders avoid trying to complete every task themselves. They ensure the perfect completion of the job.

If you are good at something, do it. If you are not good at something, find someone who is good at it and get the job done.

Conflict Resolvers.

Leaders work well with others. They have strong interpersonal skills. They effectively sniff out conflicts and snuff them out immediately. A good leader identifies discordant notes and ensures a harmonious working environment.

Play fair, but play tough. Learn to work with others.

Nurture your leadership skills

Leadership development programs help in nurturing and developing leadership skills. They help you develop your strengths and work on your weaknesses. There are various leadership development programs in India that are great places to indulge with qualified professionals. They empower you to reach your full potential.

Lead the change with Harvard YLC Leadership Conference

Youth Lead the Change is a leadership development program created by professors of the Harvard Business School, Harvard Law School, and the Harvard School of education, and held by Harvard students. Held for students in grades 8 – 12, the program aims at empowering students and unlocking their leadership capabilities as they develop tangible solutions to global problems. Over the 7 day course, the students work in a group to understand a global issue and develop a social change project to address it. Through this program, students learn about core leadership skills such as collaboration, public speaking, time management, and self-knowledge.

The Harvard trainers also hold one-on-one sessions with students who continue to serve as mentors after the program. On finishing the program, there is an opportunity to complete mentorship for an entire year, to implement their project. Presented by The Leadership Institute at Harvard College (LIHC), this Harvard student organization aims to provide and promote leadership development opportunities across the world.

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blog | 5min Read

7 Reasons Indian Students Should Get on the Gap Year Bandwagon

Published on November 15, 2021

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7 Reasons Indian Students Should Get on the Gap Year Bandwagon

A gap year is defined as “a period, typically an academic year, taken by a student as a break between school and university or college education.”

Gap years have been all the rage since the 1960’s. Although popular in Europe, it has become popular in other developed countries like the USA, Australia, Canada, etc.

Students in developing countries, especially India, do not consider gap year as an option due to several reasons such as visa restrictions, access to funds, financial dependence on parents, etc.

However, things are changing fast and students in developing countries with their aspiration, access to funds and the internet are getting educated faster and are looking for different options before the start of their college years.

College applications in India are extremely competitive, however, the competition is concentrated on a single aspect – % of marks. Unlike in the west, where applications are evaluated on GPA, work experience, diversity, achievements, etc.

This aspect of admission in the west challenges young students to be more experimental with their lives before they go to college.

If planned well, a gap year in India can truly provide immense benefits and value that no book or school will teach you. If you get on this journey early on, it will have a profound effect on your life.

Entrepreneurs should have the gift of seeing things in the present, even if they are in the future. To start a
successful start-up three simple things are needed – An idea, people who want your idea, and a burning desire to succeed.

Our top reasons for taking a gap year:

  1. Time to think
  2. Work experience
  3. Improved performance
  4. Financial Management
  5. Learn life skills
  6. Awareness to the real world
  7. Well rounded

1. Time to think

A gap year will give you time to think about what your passion truly is. A lot of college students who don’t know what they like, end up paying for an education and realising it is too late. A gap year will help you reduce these costly mistakes both in terms of money and time. It will give you opportunities to experiment with different things. Habitually, humans tend to select short term gains over long term impact and education is no exception to this. Don’t be short sighted. Your career will span for over 35 years.

2. Work experience

A gap year will provide you with plenty of opportunities to pick up work experience. You can choose to work for fun, for social causes, to gain actual experience, to learn something new, work an internship or to find out whether you like something or not. Since you will be starting out, you will be open and flexible to a lot of new experiences.

3. Improved performance

Chances are that you have been learning all your life. A break will help you refresh and increase motivation to do well. With a plethora of new experiences under your belt you will be set apart when you decide to start college. Real life experiences will help you imagine situations far better and how to implement your learnings in a more meaningful way. 

4. Financial Management

A year is a long enough time to pick up a hobby or some other skills that will come in handy for your entire life.  Skills like language, cooking, yoga, writing, public speaking, developing a hobby can all result in happiness and/or opportunities to make money part/full time.

5. Learn life skills

A little help, timely advice and encouragement goes a long way in helping you do better. A good mentor  is a critical asset. Mentors share knowledge, valuable contacts and invaluable nuggets from their oodles  of experience that helps you hack through the thickets of start-up struggle. A mentor is your guardian  angel. Every start-up team and every seasoned entrepreneur needs one good mentor. 

6. Awareness to the real world

A gap year provides the opportunity to travel. Something that most people struggle to do once they start college or work. Travelling exposes one to different cultures, languages, problems, people, etc. that you cannot experience in the environment you grow up in. It helps increase awareness and create empathy towards different sections of the society and world in general.

7. Well rounded

With awareness and new experiences you are able to make better decisions and become a lot more considerate about problems faced by others since you might have faced the same issues during traveling or during cultural exchanges. Besides, all the experience that you have had in terms of dealing with people from different sections of the society and culture will also open you up and make you a lot more rounded as a person.

Conclusion:

While we realise that a gap year in India is quite unorthodox and not a natural path for most Indian students. We feel that there are several tangible and intangible benefits if done well. There are definitely pitfalls like everything else, which we will cover in another blog post.

However, if you set out your goals and plan this year well, it will be one of the best decisions that you would have made.

Your turn, what is your opinion about a gap year? Do you feel there are other benefits to it? Do share your thoughts in the comments below

Big Red Education And Our Entrepreneur Program

In our entrepreneurial workshop – Ivy Early Entrepreneur, students go through the process of business development and leave the entrepreneur program having completed a business model canvas, competitive analysis, financial model, minimum viable product, and a pitch deck.

Students get an opportunity to learn from successful entrepreneurs who are alumni of reputed universities and are experts in their respective industries.

These experts serve as coaches guiding students through the processes of developing a business concept. Risk-Taking, Decision Making, Critical Thinking, Problem Solving, Communication &

Storytelling, Design Thinking & Innovation, and Opportunity Recognition are a few of the key learning areas of our program.

On successfully completing the entrepreneur workshop, the guaranteed internship will be extended to all the students within our partner firms and with most of the mentors teaching the program. Students will be provided with a certificate of participation by Big Red Education. This certificate can be used for your college portfolio.

Ivy Early Entrepreneur

21st June – 29th June 2023

Idea Generation | Market Research | Design Thinking | Pitching

Learn More

Editor's Pick