Cryptocurrency 101

 

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

However, we are not economic or tax consultants. We can not give out recommend on the opportunities or risks of investing in period.

Today, we speak to the Founders of Web3 Studios, that are producing their very particular cryptocurrencies and NFTs. We attempt to ask simple questions as well as obtain a really simple description of the Cryptocurrency arena.

As you may have seen the cryptocurrency market is extremely volatile. Most of us have actually listened to tales of pizza being paid with Bitcoin as well as pizza delivery people coming to be overnight millionaires.

It is indisputable that some individuals have come to be very wealthy, yet where does that leave the everyday investor. Only this past October and November 2021 the market was off the graph. It was rather literally the wild wild west.

After that equally as amazing the gains investors were making, the floor opened and collapsed hard. Over night people saw their freshly produced riches go away.

I spoke with a number of people that had invested a pair hundred dollars each and saw gains in the hundreds of thousands of dollars. After that in the blink of an eye all of it vaporized. One let it ride and took pleasure in the rollercoaster he really felt fortunate to be on. However, the other overextended himself and also invested cash he thought he had in the crypto market, and now he is having problem with debt he can not cover.

This post is solely for enjoyment objectives and you need to always look for the advise of a certified financial advisor. As everybody knows the marketplace has tanked. Fortunes have been depleted. However in those loses others see possibilities. We always inform people all that glimmers is not gold, so every person should proceed with caution. Only spend what you can willing lose and also will not hurt your income.

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

In today's video we speak to the founders of Web3 Studios. I ask the basics. What is cryptocurrency? Exactly how do you buy it? Where do you store it?

We also explore the exciting and mystical realm of NFTs. They are in the stage of minting their very own, and I find it remarkable that they and also several others are developing in the online area.

I may simply be as baffled 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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