Cryptocurrencies like Bitcoin and Ethereum have made a lot of headlines the past few years. We’re still in the early stages of what cryptos could become, and you have to understand they’re volatile by nature…
But a lot of people have been asking for my philosophy behind investing in crypto, and whether I see them as a good investment at all. Spoiler alert, I do — but with caveats.
So in today’s video I’ll break down the two biggest cryptos, Bitcoin and Ethereum.
First the basics: What is a cryptocurrency?
A crypto is a digital currency that’s built on blockchain technology, a digital series of blocks that create a chain allowing people to see every transaction in real time.
Think about if you spent $1. And every time you spent $1, it could be traced back to the original source. That’s the idea behind a blockchain. It’s open-sourced and fully transparent so everyone can see it.
The second big theme is it’s decentralized, meaning it isn’t owned by any government — like the U.S. dollar, Japanese yen and so on. And the way it runs is through the users.
There are of course other reasons more and more people like crypto — like not having to carry cash for one thing — but those are the two big ones.
Crypto is also now being used and accepted by big, mainstream companies like Tesla as form of payment for its cars. Digital payment companies like Square and PayPal are also allowing people to exchange Bitcoin and other cryptos as form of payment.
Coinbase, which is an online brokerage firm that allows you to buy and sell crypto, also just went public this past week. Check out my thoughts here on whether this stock is a buy…
A year ago in March, Bitcoin was trading at $5,000 and change per coin. As of Monday, it was trading around $55,000 per coin… That’s quite the explosion and one heck of an ROI.
So if you’re investing in Bitcoin and Ethereum now, are you early to the move, or too late? And am I bullish or bearish on crypto?
Check out my short video and I will break down both Bitcoin and Ethereum in depth.
And as always, please like and subscribe to our YouTube channel and podcast, “Smart Money Circle,” where I interview some of the most brilliant minds in the business. You can also follow me on Twitter, and read more of my thoughts on the market at WealthPress and on Forbes, where I’m also a contributor.
Miss out on the first crypto boom? Well, one ignored $0.40 crypto could be “the future of banking,” minting new wealth for those who get in before new global partnerships take hold.
Too many people forget that Bitcoin was trading for just a couple of bucks before it hit the mainstream, exploding tens of thousands of dollars higher.
And that opportunity is presenting itself again with this once-ignored, 40-cent coin leading the charge in the next global banking revolution.