Welcome to the world of Crypto Currency!
A whole new exciting world is out there for those who want to learn and take advantage of it. Most of us have heard of the Bitcoin, but you may not know that there are many, many “crypto currencies” being traded, and more are being created almost every day!
So, what makes crypto currency so fascinating? Perhaps the most compelling feature is the lack of any governmental control. Crypto currency is based on true peer to peer transactions, and the values are not based on artificial standards set by some government but by true market conditions of supply and demand.
What gives these currencies a bad name is the use by criminals. Which is kind of surprising, because every transaction is registered and can be tracked! But it is possible to do an anonymous transaction, even though it is registered, hiding the parties involved. So one might expect that the currency could be be attractive to the lower elements of society. But don’t let that put you off, because there really are good uses for this kind of currency, which has a value based more on reality than what most of us carry in our pockets today.
Perhaps most interestingly, crypto currency is built upon “blockchain” technology. The blockchain logs every transaction so that if something goes wrong, it is possible to find the transaction and show every section of the path taken from point A to point B. All this is done in a very secure way using wallets with special codes that can be changed and regenerated even for each transaction as needed.
Some people believe the Bitcoin will be going up to $1m! Probably not, and it can even go down, so we are not personally buyers and holders of the currency. Rather, we like to look for ways to use the movement of Bitcoin and other similar currencies as a way to capture gains. And, we prefer to keep the ability to move back into major currencies as needed.
Please see our DISCLAIMER and be sure you understand that we are not providing any advice on this site. We are completely unqualified to do so! We’d rather you think of this site as “the blind leading the blind” – we are looking at all these options, learning them and trying some, and we will be using this site to let you know our experiences. Beyond that, use your own judgement but remember this: DO NOT put any money into these kinds of investments that you cannot live without. In other words, don’t mortgage your house or take out a loan just because someone says they will pay you 4% a day. Because they won’t be able to do that very long! But there are some companies out there that look good and appear, to us at least, to be reputable enough that we are giving them a try. We’ll be letting you know how things turn out!