Cryptocurrency 101

 

Cryptocurrency is one of those things that is both appealing and terrifying at the same time. I think that is what makes it so mystical. It is also one of those areas that clients ask us about on a regular basis.

However, we are not financial or tax advisors. We can not offer advise on the opportunities or hazards of investing period.

Today, we talk to the Creators of Web3 Studios, that are developing their very own unique cryptocurrencies and also NFTs. We try to ask basic queries and obtain a really simple explanation of the Cryptocurrency realm.

As you may have seen the cryptocurrency market is incredibly volatile. We all have heard tales of pizza being paid with Bitcoin as well as pizza delivery folks coming to be over night millionaires.

It is undeniable that some individuals have become very wealthy, but where does that leave the daily trader. Just this previous October and November 2021 the marketplace was off the graph. It was rather literally the wild wild west.

Then equally as extraordinary the gains investors were making, the floor opened up and crashed hard. Overnight individuals saw their freshly minted riches disappear.

I talked to a number of individuals that had actually spent a pair hundred bucks each and saw gains in the hundreds of thousands of dollars. Then in the blink of an eye all of it vaporized. One let it ride and enjoyed the rollercoaster he felt fortunate to be on. On the other hand, the other overextended himself and also invested money he believed he had in the crypto market, and now he is dealing with financial debt he can not cover.

This article is simply for enjoyment objectives and you need to always look for the advise of a certified personal financial advisor. As everyone understands the marketplace has actually tanked. Riches have been lost. Yet in those loses others see chances. We constantly tell individuals all that glitters is not gold, so everybody must proceed with caution. Only invest what you can willing lose and will certainly not hurt your source of income.

Much like you, we had a lot of questions. Currently possibly especially is the moment to ask those things.

In today's video we talk with the creators of Web3 Studios. I ask the fundamentals. What is cryptocurrency? Exactly how do you buy it? Where do you save it?

We also delve into the exciting and mysterious realm of NFTs. They are in the process of minting their own, and I find it interesting that they as well as numerous others are developing in the online area.

I may simply be as confused as ever before.

This article originally, by Stephen Cortes (http://stephencortes.com), appeared on the Cortes Law Firm website and on YouTube. For entertainment purposes only. Always consult with an attorney and/or certified financial adviser.

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