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What Is Cryptocurrency? Should I Invest In Bitcoin?
Posted
February 2, 2021
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February 2, 2021
19
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2:42Now PlayingWith Gamestop and Wall St not leaving the news anytime soon, cryptocurrency has also gained a boost of popularity and speculation. But what is cryptocurrency? Should you invest in bitcoin? Our host, David Grasso, is here to tell you everything you need to know regarding “the currency of the future”.
Crypto has been around for about a decade, and it can still be mystifying to some people. It’s money that you can’t really see, touch, or even use most places.
Cryptocurrency is a digital currency that can be used to buy goods and services online. There are many different forms of crypto, with the most popular (and considered the first mainstream) form being Bitcoin.
Bitcoin is currently valued at over $420 billion, and those who came in on the ground floor in 2009 have made a lot of money since then off of Bitcoin.
And today, Bitcoin isn’t the only form of crypto. In fact, many companies have made their own form of currencies called tokens, that you can buy from them online. Think of them like casino chips.
Cryptocurrency has become extremely popular in the last few years, and admirers see crypto as the currency of the future. Some people like that it’s decentralized, it removes banks from the equation. Cryptocurrency supporters prefer to avoid the devaluation of their money that can come with inflation.
And security is a huge factor that cryptocurrency users are attracted to. Cryptocurrency uses blockchain, a decentralized technology spread across many computers that manages and records transactions. This recording system is thought to be more secure than traditional payment systems.
And crypto has been rising in value lately, which is enticing to casual crypto traders. But, the crypto market can be extremely unpredictable and volatile. If you want to invest, be sure to do your research.
Do you own any cryptocurrency? What do you think? Let us know in the comments below!
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