Cryptocurrency 101

 

Cryptocurrency is just one of those things that is both attractive as well as scary at the same time. I presume that is what makes it so mystical. It is also one of those areas that clients ask us about often.

Nonetheless, we are not financial or tax consultants. We can not provide encourage on the possibilities or perils of investing in period.

Today, we talk to the Founders of Web3 Studios, who are developing their very own unique cryptocurrencies and NFTs. We try to ask fundamental questions and also get a very basic explanation of the Cryptocurrency realm.

As you might have seen the cryptocurrency market is very volatile. All of us have listened to tales of pizza being paid with Bitcoin and also pizza delivery people ending up being overnight millionaires.

It is obvious that some people have become extremely rich, however where does that leave the everyday individual. Just this past October and November 2021 the marketplace was off the graph. It was rather essentially the wild wild west.

Then just as amazing the gains individuals were making, the floor opened and crashed hard. Over night individuals saw their newly produced fortunes vanish.

I talked to a number of people that had invested a pair hundred bucks each and saw gains in the hundreds of thousands of us dollars. After that in the blink of an eye everything vaporized. One let it ride and appreciated the rollercoaster he really felt lucky to be on. However, the other overextended himself and spent money he assumed he had in the crypto market, and currently he is struggling with debt he can not cover.

This short article is simply for entertainment objectives and you must always look for the advise of a certified personal financial advisor. As everybody understands the marketplace has tanked. Fortunes have actually been lost. However in those loses others see possibilities. We constantly tell people all that shines is not gold, so everybody ought to proceed with care. Only invest what you can willing lose and also will not hurt your resources.

Just like you, we had a lot of concerns. Now probably especially is the time to ask those questions.

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

We also delve into the interesting and also mystical realm of NFTs. They are in the stage of producing their very own, and I find it remarkable that they and lots of others are producing in the virtual area.

I might simply be as overwhelmed 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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