If you’re ready to make yourself a crypto player, our guide can help you navigate common risks.
Cryptocurrency is quickly becoming a red-hot tool for some people bent on making money through investing in digital coinage. Crypto is also controversial and can be wildly volatile. To some, bitcoin, stablecoin and NFTs represent a step forward for investors — a kind of “Money 2.0.” Advocates point to crypto’s potential to democratize finance and power the metaverse. To others, cryptocurrency is simply a new, digital form of an old con primed to swindle and scam. Still others consider the whole endeavor an empty bubble, destined to burst.
In simple terms, cryptocurrency is a digital token whose ownership is recorded on a blockchain, a distributed software ledger that no one controls — this is designed to make it more secure, in theory. Bitcoin and ethereum are the two most widely known flavors of crypto, but more than 18,000 tokens are traded under different names (Dogecoin is one infamous example).
CONTINUE READING AT: CNET.com