Cryptocurrency and Bitcoin are one of the things in today’s world, that makes everyone feel a "fear of missing out". Cryptocurrency is the buzzword of our times and has been called everything from “future currency” to outright gambling, scam, a Ponzi scheme, and a bubble ready to burst. But it remains a hot topic in the news and online conversation. This makes everyone wonder if they should jump on the bandwagon, or play safe.
If you are not tech-savvy and you don’t know enough about money either, well, cryptocurrencies are a combination of both. Let’s explore what it really is.
There are literally thousands of cryptocurrencies out there like Bitcoin, Litecoin, Ripple, Ethereum, etc. These can be purchased through cryptocurrency exchanges like Coinbase, Cash App, Binance, Bitpay, etc. A cryptocurrency WALLET which is web or app-based is required to access your account.
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There have been numerous people who have advised against buying cryptocurrencies including Warren Buffet who said cryptos have no value. Charlie Munger called it a "rat poison” Peter Thiel went from being a pro-crypto to wondering if it is a part of the Chinese financial weapon against the U.S. Mark Cuban highlighted similarities between cryptocurrencies and gold. Carl Ichan said he does not understand cryptocurrencies because he is too old for them. Elon Musk went from being a skeptic to allowing customers to purchase Tesla cars with bitcoin.
#cryptocurrency #bitcoin #dogecoin
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