Recently, there has been a rise in the use of cryptocurrencies around the world and with the advanced technology, the number of platforms and virtual exchange methods used has also evolved. With the surge of interest in cryptocurrency, there has also been an increased interest in the desire to do an internship focused on cryptocurrency.
At its initial stages, the exchange of virtual currencies was limited to social and gaming economies. Now, countries like China, U.S., U.K. and Germany have begun to implement cryptocurrencies as an option of currency exchange.
What is Cryptocurrency?
Cryptocurrency is a digital or virtual currency that is secured by cryptography. This means that it is hard to counterfeit or double-spend the currency. It works by using the technology called blockchain to distribute and record all the transactions.
A defining feature of cryptocurrency is that it is not issued by a central authority. This results in the currency not being easily manipulated by the government. Cryptocurrency can act as real money in the form of digital monetary funds. Many companies have begun to use their own currencies or tokens to trade specifically for the goods and services that they provide. As of Feb 18, 2021, the total value of cryptocurrencies was more than $1.6 trillion.
In 2009, the first cryptocurrency, Bitcoin, was created by a group or an individual that used the pseudonym, Satoshi Nakamoto. This established a new way of payment that was decentralized, transparent and which can be used internationally.
Types of Cryptocurrency
Currently, there are more than 6,700 cryptocurrencies that are traded publicly, and they continue to grow in number and value. The most popular and well-known cryptocurrencies are ten in total. They include Litecoin (LTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Bitcoin Cash (BCH), Stellar (XLM), Chainlink, Binance Coin (BNB), Tether (USDT) and Monero (XMR).
Figure 1. Types of cryptocurrency (Source: Pexels)
Out of all the cryptocurrencies, Bitcoin is considered the original cryptocurrency. It allows users to make transparent transactions with each other. The users control the sending and receiving of money from any part of the world and can remain anonymous.
Cryptocurrency in Thailand
The cryptocurrency wave began to pick up momentum in Thailand in 2014 and since then, the government has rapidly set up policies to properly regulate the flow of the currency. In 2019, four currencies had been approved by the Thai Securities and Exchange Commission to be used for business transactions.
A year later, research conducted in 2020 showed that about 12% of the Thai population owned Bitcoin or some other kind of cryptocurrency. The country’s willingness to integrate cryptocurrencies into the system is a clear indication of Thailand’s interest in entering the digital currency world.
Currently, there are six crypto services that have been approved by the Thai government. These include Bitkub, Satang Pro, BX, Huobi Thailand ERX and Zipmex. The laws set in place regarding cryptocurrencies are made to be relatively flexible.
Since the idea of cryptocurrency is still fairly novel in the country, the aim is to create laws that can be quick to adapt to changes in the market. This will ensure that the growth of digital currencies will increase.
At the same time, strict penalties have also been imposed in order to curb the illegal trading of these currencies. As mentioned before, digital currencies are still a very new idea in the country. Therefore, while the government wants to grow the market in the country, they are also cautious of the unauthorized selling and trading of these currencies.
Figure 2. Cryptocurrency market (Source: Pexels)
Now is a great time to do an internship in one of these companies. By doing an internship with AIP, you will be secured a company that is willing to educate and provide hands-on experiences on the field.
Start with AIP in Thailand
There are many reasons why people in Thailand are increasingly using Bitcoin. One of them is because transactions being made by digital currency are instant. Furthermore, people are able to maintain their anonymity online. In a time when personal data and information is easily stolen, staying anonymous is becoming more appealing.
With the growing digital currency market in Thailand, there are more job opportunities on offer as well. But the job description is not limited to only engineers and developers. Product designers and research analysts also have a chance of participating and contributing to the market.
If you want to improve and increase your experience in this industry, an internship is a good way to start. By starting with AIP, you will get the opportunity to have a first-hand experience of how the market works, you will learn new skills that will be relevant and applicable to real-time problems, and you can get ahead in the game when it comes to how the financial world functions and regulates itself.
AIP ensures that you are placed with a company in Thailand that is one of the biggest players dabbling in cryptocurrency at the moment. You will get the chance to garner new skills and knowledge of the digital currency market. You will also get to experience the rich and diverse culture of Thailand while learning the tips and tricks of how to grow the digital currency market in the country.
Apply to AIP!
Explore and expand your knowledge of cryptocurrency internship in Thailand. AIP will ensure you find a company that will teach you the skills and techniques needed in this business. If you want to learn more, visit the website and apply to our programs!