Hello again! So we’ve successfully overcome the series of blockchain with huge details and now we are ready to dig into the enchanting and spellbinding world of cryptocurrency.
Cryptocurrency is decentralized digital money, based on blockchain technology. You may be are no stranger to the most popular editions, Bitcoin and Ethereum, but there are more than 5,000 different cryptocurrencies in circulation, as CoinLore says.
You can play with crypto to buy basic stuff like routine goods and services, while many people invest in cryptocurrencies as they would in other deep pockets, for example, stocks or precious metals. While cryptocurrency is all fun and exciting it could seriously put your life in peril. This is one of the reasons why you should only invest what you are prepared to lose, or maybe try sticking to conventional investment for maintaining a long-term wealth-building program.
Here’s an exemplary verse for you to understand the talk we just did more precisely. Frederick Stanfield, a CFP with Lifewater Wealth Management in Atlanta, Georgia, told NextAdvisor recently, that:
“If you were to wake one morning to find that crypto has been banned by the developed nations and it became worthless, would you be OK?”
More of cryptocurrency:
- Founder of SpaceX, Elon Musk recently stated that Tesla, his own company did an investment of $1.5 billion in bitcoin (BTC) and will accept cryptocurrency as a method of payment
- Facebook continues to work on its blockchain-based payment system and cryptocurrency called ‘dime’
- United States’ one of the most primeval insurance companies, Massachusetts Mutual Life Insurance, bought $100 million into bitcoin back in December 2020.
- Users of Google Pay, Apple Pay, and Samsung Pay will now be capable of making transactions with cryptocurrency by simply using BitPay.
- Bank of New York Mellon, the elderly bank in the US, freshly publicized that it will set about financing bitcoin and further digital currencies.
- Mastercard has given a sign that it will launch ‘select cryptocurrencies’ on its payment network. PayPal on the other hand already gives its users authority to buy, sell and hold cryptocurrency.
Now, the only cryptocurrency is not taking advantage of the blockchain — medical industries, insurance, financial technology, and much more problems the technology will be able to detangle in our everyday life.
We are truly confident that crypto will transform the technical world just like a Fairy Godmother who transformed a broken girl into a real Cinderella.
