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Understanding Crypto
Understanding Crypto

Quite simply cryptocurrency or crypto for short, is a digital currency and so called because it uses encryption to verify transactions. The encryption providing greater security and safety. There are currently over 20,000 cryptocurrencies in circulation although many are inactive or indeed worthless.

Unless you have been hiding under a rock for the last 5 years you will have heard of Bitcoin (BTC) which is the most prominent cryptocurrency available. BTC is actually in use in the UK, and you can currently buy a Starbucks coffee or purchase items on eBay with BTC and other crypto currencies.

Thinking of investing?

Even the so called “experts” do not know what the future holds and if they say they do then they are talking rubbish.

It is a fact that more than 1.5 trillion GBP (yes trillion!) of speculative crypto market value, evaporated last year.

The two largest currencies, BTC and ETH (Ethereum) have lost over 50% of there value in less than a year.

  • Digital currencies are not going away but what value will be put on them?
  • Will stable coins that are tethered to actual FIAT currencies take over ?
  • Will the central banks bring in further verification methods that help allay their fears and therefore embrace this new era of currency? If they do, then this could be the best time to invest!

It’s the age-old scenario, invest now and lose money if crypto falls, or miss out on the investment of a lifetime if crypto succeeds.

While it could fail, it could also change the world.

Do i personally hold any….no 😊