Cryptocurrency 101

 

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

Nevertheless, we are not financial or tax consultants. We can not provide recommend on the possibilities or hazards of investing in period.

Today, we talk to the Founders of Web3 Studios, that are developing their very particular cryptocurrencies and NFTs. We attempt to ask fundamental questions as well as obtain a very simple description of the Cryptocurrency world.

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

It is obvious that some people have actually come to be extremely rich, however where does that leave the day-to-day investor. Just this past October and November 2021 the marketplace was off the chart. It was rather literally the wild wild west.

Then equally as unbelievable the gains investors were making, the floor opened and crashed hard. Over night individuals saw their recently produced treasures disappear.

I talked to numerous people who had invested 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 lucky to be on. However, the other overextended himself and also invested cash he believed he had in the crypto market, and currently he is dealing with debt he can not cover.

This post is purely for enjoyment purposes and you should always look for the advise of a certified personal financial advisor. As everyone understands the marketplace has actually tanked. Fortunes have actually been lost. However in those loses others see possibilities. We constantly tell individuals all that glimmers is not gold, so every person needs to proceed with caution. Just invest what you can willing forfeit and will not hurt your livelihood.

Much like you, we had a lot of concerns. Currently possibly more than ever is the moment to ask those questions.

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

We additionally look into the interesting and mystical realm of NFTs. They are in the stage of minting their very own, and I find it fascinating that they and also many others are producing in the online space.

I may just be as overwhelmed 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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