Cryptocurrency 101

 

Cryptocurrency is just one of those things that is both attractive and frightening at the same time. I presume that is what makes it so strange. It is likewise among those areas that customers ask us about on a regular basis.

Nonetheless, we are not economic or tax advisors. We can not give out recommend on the opportunities or perils of investing in period.

Today, we speak with the Owners of Web3 Studios, that are developing their very own unique cryptocurrencies and also NFTs. We attempt to ask basic questions and get a very simple description of the Cryptocurrency realm.

As you might have seen the cryptocurrency market is very unstable. We all have listened to tales of pizza being paid with Bitcoin and pizza delivery people coming to be over night millionaires.

It is obvious that some individuals have actually ended up being really rich, but where does that leave the daily individual. Just this past October and November 2021 the market was off the chart. It was quite literally the wild wild west.

After that just as unbelievable the gains investors were making, the floor opened and collapsed hard. Over night people saw their freshly produced treasures vanish.

I talked to numerous individuals who had actually spent a couple hundred bucks each and saw gains in the hundreds of thousands of dollars. After that in the blink of an eye everything evaporated. One let it ride as well as delighted in the rollercoaster he really felt lucky to be on. On the other hand, the other overextended himself as well as invested money he assumed he had in the crypto market, and currently he is struggling with financial debt he can not cover.

This post is simply for entertainment reasons and you must always seek the advise of a licensed financial planner. As everybody knows the marketplace has tanked. Riches have been lost. Yet in those loses others see chances. We constantly inform individuals all that glitters is not gold, so everyone should proceed with caution. Just invest what you can willing forfeit as well as will not hurt your livelihood.

Similar to you, we had a great deal of questions. Now probably more than ever is the time to ask those questions.

In today's video we talk to the owners of Web3 Studios. I ask them the basics. What is cryptocurrency? Just how do you buy it? Where do you save it?

We additionally delve into the interesting and also mysterious world of NFTs. They are in the stage of minting their own, and I find it interesting that they and many others are developing in the online space.

I may just be as confused as ever.

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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