Think about cryptocurrencies As the first taste of cryptocurrency that can be used by anyone, anywhere, anytime.
- We are in an unregulated state, Dangerous experimental stage — 10,000 or more Various digital currencies available globally with minimal government rules or oversight.
- And very little People are buying things with it — not yet.
Important reason: Cryptography is not fashionable. It will change how, where, and what people buy and sell. But for now, it’s like trading high-risk stocks over the internet and trying to pick a long-term, long-term winner.
what’s happening: Cryptocurrencies are the greatest financial discovery and transformation for generations. Some of the smartest young people in the world do not attend law school or Goldman Sachs. They go to cryptocurrencies.
- already a $ 2 trillion Trading market, approximately Microsoft size.
- Young people are crazy about it. Almost half of millennials own at least 25% of their wealth in cryptocurrencies. Every CNBC..
- Bitcoin value soars Thousands of millionaires, and some millionaires, can be mented overnight.But that wealth can disappear as soon as it came Cryptocurrency crashes..
Which cipher it’s not: Blockchain.
- Blockchain is the technology behind your cryptocurrency — just as the Internet is the technology behind your email. Beginners often confuse the two.
- Think of blockchain as a large public database that everyone can share and control. Therefore, it cannot be tampered with.It tracks every day Transactions of specific currencies such as Bitcoin.
What is encryption? Bradydale, author of Axios Upcoming crypto newsletterWe call it “web-specific money”.
- “Did you know that when you’re buying something online, you need to contact your credit card at checkout? Imagine you have money stored in your browser and always available. “
- No, there is nothing you can touch or feel. There are no coins or invoices. Just a record of it on the digital database we mentioned.
Its value is promoted Primarily due to demand and hype — the more popular it is, the more valuable it is.
- This is not much different from what drives sports stocks and betting lines. But we are betting on the idea that there is a future for cryptocurrencies, not sports teams with real players or businesses with real financial information.
- Therefore, like the stock market and gambling, you can make or lose money. However, fewer regulators are monitoring you.
Don’t be careless: Cryptographic news site CoinDesk guide How to find scams, such as how to seek help from an in-house expert. If you are planning to invest, at least open your eyes wide.
Why pay close attention? Look at the crypto as the front door, and front row of the unfolding virtual world, where digital possessions resemble physical ones and virtual experiences resemble real ones.
🏁 Editor’s Note: This article was first published in Axios FinishLine, a new newsletter for the Axios Daily Essentials package.