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Learning more about cryptocurrency may be on your bucket list and if you do it will be helpful to find out how it fits into the world of Fintech.

So what’s Fintech?

Well, it might be covered by your crypto tutor, when you find one, but here is a short overview so that you don’t enter your cryptocurrency classes completely in the dark.

Short for financial technology, Fintech, refers to the technology that is a growing alternative to the area of traditional financial services.

Cryptocurrency is enabled (amongst other things) by a technology known as Blockchain. Bitcoin, which is the most well-known cryptocurrency to date, is the reason why Blockchain was created.

Cryptocurrency: A Brief History  

Bitcoin, was built to be secure, open and democratic. It was meant to be so private that nobody could scrutinise anyone else’s financial records or operations. Unfortunately, its first renditions were anything but that because, despite its many security features, the criminal underworld found ways to leverage it to its advantage

After about four years, the financial and investment community began to take cryptocurrency seriously but it wasn’t until 2015 that Vitalik Buterin recognised the possibilities of blockchain and leaned on it to bring Ethereum online.

Ethereum’s features put Fintech and the genius of the Blockchain created by Satoshi Nakamoto in a brand new light.

As a side note, did you know that the real identity of Satoshi Nakamoto is unknown?

It is not even confirmed whether he is a real person or not.

How Did Fintech Start? 

It is widely thought that the early days of Bitcoin, paved the way for the age of Fintech. The true history of Fintech, however, goes all the way back to the second Industrial Revolution, when bankers began to use telegraph lines to transmit their financial information across distances.

As early as 1851, American entrepreneur Samuel Selden founded Western Union and later took advantage of both computers and telex to expand its reach as one of the world’s largest money transfer services.

It took about 100 years to build the basic Fintech infrastructure and it was only in 1967 when analogue became digital that Fintech’s second era kicked off with the advent of personal computers, cash machines and stock markets.

Enthusiastic banks that were unregulated began to speculate with investment portfolios and retirement funds which led to risk-taking activity that raked in huge profits. Eventually, Wall Street traders were betting on thin air and a disastrous implosion that led to a global economic meltdown in 2008 ended the second era of Fintech.

Working in Fintech

Traditional careers within the financial sector have been reputed to be stable, secure and lucrative. Today, those who join the Fintech industry are those with bright minds who like to think critically and problem-solve within the realms of cutting-edge technology. It is considered a stable career choice with a demand for finance-savvy coders.

Enterprises underpinned by Fintech are by definition collaborative, exciting and dynamic. Company culture is usually entrepreneurial and transformative as opposed to the traditional systems of the past.

If this sounds like a viable career option for you, then a good place to supplement your economics course would be to find a regular cryptocurrency lesson to help keep you up to speed.

Take a Cryptocurrency Lesson Online or Near You

Finding the right crypto tutor could completely change your journey into the world of fintech. On a website like Superprof, you could take cryptocurrency classes with an investor or entrepreneur who also happens to be a bitcoin expert. Most tutors who can offer a cryptocurrency lesson are also from teaching backgrounds which means that their cryptocurrency classes should be easy to understand.

When you find a cryptocurrency lesson with a private tutor you will experience flexible and relaxed teaching that is deliberately aimed at meeting your objectives.

It’s no secret that Fintech degree programmes are not widely offered, but good advice from the right crypto tutor can help to point you in an education direction in Fintech that is right for you.